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…
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…
Nigeria’s push to rely more on local petrol production is facing an unexpected problem. The Dangote Refinery says rising Nigeria petrol imports are making it harder to plan production and could force it to export excess fuel instead of selling it at home. The warning comes as imported petrol accounted for about 43% of the…
The Dangote Refinery petrol supply to Nigeria’s domestic market fell sharply in July, while petrol imports increased, highlighting the delicate balance between local refining and foreign fuel supplies. New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that domestic petrol receipts dropped from 32.5 million litres per day in June to…
Nigeria says its subsidy reforms freed up ₦15.8 trillion between June 2023 and December 2025. But as crude oil prices climb again, the latest petrol price increase from the Dangote Refinery shows why the real test of the reforms is not simply how much government saves, but whether Nigerians can actually feel the benefit. Finance…
Global oil markets are once again being pushed higher by the standoff between the United States and Iran over the Strait of Hormuz, with Brent crude climbing sharply as hopes of a quick reopening of the strategic waterway fade. The U.S. Energy Information Administration has raised its 2026 Brent price forecast to about $87 per…
The continuing conflict involving Iran is creating a strange situation in the global energy market: oil companies are making much more money at the same time that higher energy prices are putting pressure on consumers and businesses. Saudi Aramco, ExxonMobil and Chevron are among the major energy companies benefiting from the sharp changes in oil…
