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UKRAINE BRINGS THE WAR TO MOSCOW AS HUGE BLASTS SHAKE REFINERY.
Ukraine has brought the war closer to the heart of Russia after launching another major drone strike on a strategic oil refinery in Moscow, causing a powerful explosion, a large fire and widespread disruption across the capital. The attack, which targeted critical energy infrastructure located just 16 kilometres from the Kremlin, is part of Kyiv's growing campaign to weaken Russia's oil industry, disrupt revenues used to finance the war and demonstrate its ability to strike deep inside Russian territory. The incident has also raised concerns about fuel supplies, transportation disruptions and the broader economic consequences of continued attacks on Russia's energy sector as the conflict enters a new and increasingly complex phase.
- 1 month, 4 weeks
OIL FALLS TO LOWEST LEVEL SINCE THE START OF THE IRAN WAR AFTER CEASEFIRE DEAL IS SIGNED
Oil prices fell by more than 1% on Thursday, reaching their lowest level since the Iran war began.
- 1 month, 4 weeks
UAE'S OIL PRODUCTION SET TO EXCEED 5 MILLION BARRELS PER DAY AFTER OPEC EXIT.
The United Arab Emirates is set to become one of the world's fastest-growing oil producers after leaving OPEC, with the International Energy Agency forecasting output to exceed 5 million barrels per day next year. Backed by massive investments from ADNOC, expanding export infrastructure and a strategy focused on maximizing production capacity, the UAE is positioning itself to play a larger role in global energy markets while strengthening its ability to supply customers despite ongoing Middle East geopolitical tensions.
- 2 months
NIGERIA'S CRUDE OIL PRODUCTION HITS 15-MONTH HIGH
Nigeria’s crude oil production climbed to a 15-month high in May, highlighting the country’s ongoing efforts to increase output. According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), crude production reached 1.53 million barrels per day (bpd), the highest level recorded since January 2025.
- 2 months
PRESIDENT SAMIA’S GOVERNMENT SCRAPS EV AND CNG TAXES IN MAJOR CLEAN ENERGY TRANSFORMATION.
President Samia Suluhu Hassan’s government has unveiled one of Tanzania’s boldest clean energy reforms by removing key taxes on electric vehicles, compressed natural gas (CNG), and critical clean transport infrastructure in a move aimed at lowering energy costs, accelerating industrial growth and positioning Tanzania as a regional leader in sustainable transportation. The sweeping tax exemptions announced in the national budget signal a major business, economic and geopolitical shift as Tanzania moves aggressively to reduce dependence on imported fuel while promoting local energy solutions and green investment.
- 2 months
OIL FALLS TO THREE-MONTH LOW AS U.S.-IRAN PEACE DEAL SIGNALS RETURN OF HORMUZ OIL FLOWS.
Global oil prices dropped to their lowest levels in three months after the United States and Iran announced progress toward a peace agreement expected to reopen the Strait of Hormuz and restore disrupted energy flows. The sharp decline reflects growing confidence in global markets that tensions in the Gulf may ease after months of conflict that severely disrupted oil and gas exports. The development carries major business, economic and geopolitical implications as traders, governments and energy companies closely monitor how quickly Middle Eastern supply chains and shipping routes can recover.
- 2 months
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