LONDON, Aug 26 (Reuters) – Oil prices lost more than 1% on Tuesday after surging nearly 2% in the previous session as traders monitor developments surrounding the war in Ukraine and potential disruption to Russian fuel supplies.Brent crude was down $1.08, or 1.57%, at $67.72 a barrel by 1040 GMT, having hit its highest since...
Category: Oil Prices
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Star Oil Revises Fuel Prices Effective August 25
Star Oil has announced new fuel prices, which took effect from 8:00 a.m. on Monday, August 25, 2025. Under the revised pricing, Super now sells at GH¢12.77 per litre, up from the previous rate, although some outlets are expected to retail at GH¢11.97m. Diesel has been reduced to GH¢13.45 per litre, with certain stations pricing...
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Global oil markets will face record surplus in 2026, says IEA
(Bloomberg) – Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million bpd, surpassing even the average buildup during the pandemic year of 2020, data from the IEA’s monthly report showed....
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NPA Cracks Down on Unlicensed Fuel Stations, Warns of Immediate Closure
The National Petroleum Authority (NPA) has issued a stern warning to fuel stations operating without the necessary licenses, cautioning that such outlets face immediate closure and possible decommissioning. In a statement, the regulator reaffirmed its mandate under the National Petroleum Authority Act, 2005 (Act 691), as amended, to oversee all commercial activities related to the...
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Non-oil exports boom, hit $3.2bn in six months11th August 2025.
Nigeria’s non-oil exports soared to $3.225bn in the first half of 2025, marking yet another milestone in the sector’s growth, the Nigerian Export Promotion Council announced on Sunday. This figure represents a 19.59 per cent increase over the $2.696bn recorded in the same period of 2024. The Executive Director/Chief Executive Officer of the NEPC, Nonye...
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Star Oil Announces Revised Fuel Prices Effective August 2, 2025
Star Oil has announced new pump prices for its petroleum products, effective 8:00 AM on Saturday August 2, 2025 The latest pricing sees a drop in the cost of Super and Diesel, bringing some relief to motorists amid ongoing economic pressures. According to the company: Star Oil says the revision is in line with its...
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Exxon, Chevron profits to drop to lowest point since pandemic, analysts say
(Reuters) -Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting pressure...
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Transparency and Reform in NPA’s Fund Management: Decoupling Roles for Accountability
The Centre for Environment Management and Sustainable Energy (CEMSE) is calling for urgent reforms within the National Petroleum Authority (NPA), advocating a clear separation between the Authority’s regulatory role and its management of petroleum-related funds. CEMSE argues that the NPA’s dual mandate has led to a lack of transparency and accountability, with significant revenue surpluses...
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Rockway Oilfields Services Earns Triple ISO Certification, Underscoring Commitment to Quality, Safety, and Sustainability
Rockway Oilfields Services Ghana Limited, a wholly indigenous Ghanaian company, has achieved a major milestone with the official award of three internationally recognized ISO certifications — ISO 9001:2015 (Quality Management), ISO 45001:2018 (Occupational Health & Safety), and ISO 14001:2015 (Environmental Management). The certifications were issued by the UK-based Accreditation Service for Certifying Bodies (ASCB) Worldwide,...
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Gold-for-Oil Was Just a Cash Deal – Finance Minister Discloses
Finance Minister Dr. Cassiel Ato Forson has debunked claims that the much-touted “Gold for Oil” initiative introduced by the previous administration was a true barter arrangement involving the direct exchange of gold for petroleum products. Speaking on JoyNews’ PM Express, Dr. Forson revealed that contrary to public belief, the policy never involved any actual trading...