Iran’s parliament has approved the closure of the strategically crucial Strait of Hormuz, a vital waterway for global oil shipments, in a significant escalation of tensions in the Middle East region. This decision, if effected, could push global oil prices up from below $80 to $150 per barrel. The decision comes after a US-led airstrike…
Vice President Kashim Shettima’s political future may be hanging in the balance as signs from within the All Progressives Congress point to his exclusion from the 2027 presidential ticket. Credible sources in the Presidency and the APC told Sunday PUNCH that there are ongoing political permutations that could compel President Bola Tinubu to drop him…
Amid the deepening military conflict with Israel, Iran’s Supreme Leader Ayatollah Ali Khamenei has reportedly shortlisted three clerics as potential successors, while choosing not to nominate his son Mojtaba. The revelation, cited in a New York Times report, comes at a time when Khamenei is said to be operating from a secure underground bunker due…
BRICS member China is negotiating a new economic deal with 53 African countries that will eliminate all tariffs and give special market access. The latest development could significantly benefit all the least developed countries (LDCs) in Africa and boost their respective economies. “China is ready to welcome quality products from Africa to the Chinese market”,…
Olufemi Soneye has announced his decision to step down from his role as the chief corporate communications officer of the Nigerian National Petroleum Company Limited (NNPC Ltd). Soneye, who assumed the position 20 months ago, expressed deep gratitude to his team and professional associates, crediting them for their support, dedication, and collective effort in building…
Filling stations across the Lagos metropolis Saturday morning responded to the hike in the ex- depot price of Premium Motor Spirit(PMS), otherwise called petrol by Dangote Refinery late Friday. The Dangote Refinery on Friday adjusted it’s ex- depot petrol price from N825 per litre to N880, representing an increase of N55 per litre. In a…
Filling stations across the Lagos metropolis Saturday morning responded to the hike in the ex- depot price of Premium Motor Spirit(PMS), otherwise called petrol by Dangote Refinery late Friday. The Dangote Refinery on Friday adjusted it’s ex- depot petrol price from N825 per litre to N880, representing an increase of N55 per litre. In a…
-says the UK energy giant’s activities in the region have led to the destruction of fishing and farming. An influential traditional chief in Nigeria’s oil-rich Niger Delta yesterday demanded that Shell pay US$12 billion for environmental pollution before it leaves the region. Bubaraye Dakolo of the Ekpetiama kingdom appeared before a federal high court in…
The Transmission Company of Nigeria (TCN) has said that it is owed N457 billion as of March for services rendered within the Nigerian Electricity Supply Industry (NESI). The Managing Director of TCN, Mr Sule Abdulaziz, made this known on Wednesday at the opening of a capacity-building workshop for journalists in Keffi, Nasarawa State. Abdulaziz was…
The Chief Financial Officer (CFO) of Nigerian National Petroleum Company Limited, Adedapo Segun, has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023. According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs….
