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The Independent Petroleum Marketers Association of Nigeria (IPMAN), has blamed diesel scarcity on the recent clampdown on illegal refineries in the country. According to the association, the illegal oil facilities were producing diesel in manageable volumes for the market, which reduced the cost of locally produced diesel when compared to the imported product. BizWatch Nigeria understands that as of Friday, March 11, 2022, a litre of diesel was sold for N655. Continue reading Marketers Blame Diesel Hike On Clampdown On Illegal Refineries at BizWatchNigeria.Ng.

Amid an exodus of Western European and U.S. companies from Russia, Chinese businesses are seeking to take their place, Bloomberg reported this week, citing unnamed sources in the know. It was only a matter of time, really. Nature abhors a vacuum, and so does business. Chinese business, in addition to this, is quite pragmatic, unlike …

As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India''s GDP forecast for the fiscal year beginning April 1 by 50 basis points to 7.9 per cent

Read more about Morgan Stanley cuts India GDP growth forecast to 7.9% for FY23 on Business Standard. As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India''s GDP forecast for the fiscal year beginning April 1 by 50 basis points to 7.9 per cent

Bidding for 75 small and marginal oil and gas discoveries, mostly of ONGC, that are being offered in the DSF-III bid round, will begin on April 1 and close on May 16, according to the DGH.

The Kremlin''s all-around invasion of Ukraine has heavily stirred fear of a global economic impact with expenses rising to skyrocket level especially crude oil and energy prices.

UK Prime Minister Boris Johnson is expected to travel to Saudi Arabia next week for talks about oil with Crown Prince Mohammed bin Salman. MP''s are calling on the Prime Minister to persuade the Saudis to release more oil to ease Britain''s cost of living crisis.

The historic surge in oil is reshaping the outlook for Asian equity and currency markets, as the specter of prolonged high prices exposes the vulnerability of energy-dependent countries.

Germany said Saturday it aims to be nearly free of Russian oil imports by the end of this year, as countries look to squeeze Moscow over its invasion of Ukraine.

The workshop was attended by officials of DGMS, OIL, ONGC, GeoEnpro, HOEC, CAIRN Vedanta, union officials and various other contractors.

In keeping with the resolve of President Muhammadu Buhari’s administration to diversify the national economy and reduce dependence on oil exports, the Nigerian Ports Authority … The post Promoting Exports: NPA flags off export processing terminals appeared first on The Guardian Nigeria News - Nigeria and World News .

Scott Morrison believes Australians understand why petrol prices are going up but won’t say whether there will be help in the budget at the end of the month through a cut in fuel excise. Some parts of the country are paying well over $2 per litre as a result of global oil prices spiking due […]

The joke cracked by one senior Coalition figure last week was that the sharp drop in the cost of a barrel of oil on Wednesday was in response to the Irish G overnment''s announcement of a temporary reduction in excise duty on fuel.

The US president is courting Venezuela and re-engaging with Saudi Arabia to overcome his oil sanctions against Moscow.

SA Premier Steven Marshall writes to the federal government asking it to reduce the fuel excise in the next budget, amid record petrol prices across Australia.