The Houthi capture of Mocha port in Yemen has created a new threat to international shipping as the Iran-backed group pushes closer to the strategic Bab al-Mandeb Strait. The development comes as tensions around the Strait of Hormuz crisis continue to disrupt energy markets. Together, the two flashpoints are raising concerns about what could happen…
The prolonged Middle East oil crisis in 2026 is beginning to affect the global energy market beyond crude oil prices, with refinery disruptions expected to cut worldwide crude processing by an estimated 1.4 million barrels per day (bpd) in the fourth quarter. Wood Mackenzie said the extended conflict is expected to reduce global crude runs…
The Dangote Refinery profit 2026 figures show a dramatic turnaround for Nigeria’s biggest refinery, with the company reporting ₦2.55 trillion in profit after tax on ₦19.47 trillion in revenue during the first half of the year. The results are particularly significant because they come ahead of the refinery’s planned Initial Public Offering, giving potential investors…
The Brent crude oil price above $100 has returned to global markets as the latest escalation in the Middle East raises fears that oil supply disruptions could last longer than previously expected. Brent crude futures briefly climbed above $100 a barrel on Wednesday, reaching about $100.19 before easing slightly. It was the first time the…
The Dangote Refinery IPO 2026 is shaping up to be more than a huge fundraising exercise. Aliko Dangote wants the ₦2.15 trillion share offer to bring millions of ordinary Africans into the ownership of one of the continent’s biggest industrial projects. The refinery’s IPO documents were signed in Lagos on Monday, with 4.1 billion shares…
Oil prices are moving towards $100 per barrel after Yemen’s Iran-aligned Houthi rebels launched a major wave of attacks on southern Saudi Arabia, hitting civilian and energy facilities and raising fresh fears about global oil supplies. The Houthi attacks on Saudi Arabia in 2026 injured at least 73 people, including women and children, according to…
The Dangote Refinery IPO has received approval from Nigeria’s Securities and Exchange Commission, setting the stage for what could become Africa’s biggest-ever share sale. The company plans to offer 4.1 billion ordinary shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion, if fully subscribed. The order book is expected to open on…
Nigeria’s power sector contracted by 10.63% in Q2 2026, extending its decline for a second consecutive quarter even as the wider economy recorded stronger growth. The figures raise a bigger question than the latest contraction: can Nigeria sustain economic growth without fixing its electricity supply chain? Power Sector Moves in the Opposite Direction According to…
Brent crude has climbed above $95 per barrel as renewed US-Iran tensions raise fears of disruptions to oil supplies through the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent reached about $95.40 in early trading on Wednesday, while WTI moved above $90. For Nigeria, the immediate concern is not simply…
US President Donald Trump has announced what he called the “biggest oil deal in world history”, saying the US Venezuela oil deal gives American interests majority control of more than 65 billion barrels of Venezuela’s proven oil reserves. The announcement could reshape the relationship between Washington and Caracas while giving US companies a major role…
