Oil prices soared and stock markets slid Wednesday after US President Donald Trump said the ceasefire with Iran was over, following renewed strikes in the Middle East.

The latest bout of fighting was sparked by Iranian attacks on ships in the vital Strait of Hormuz shipping route.

Trump said at a...

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Indigenous oil producers have warned that Nigeria’s upstream petroleum sector is being weighed down by more than 270 different taxes, fees and statutory levies.

They maintain that the multiplicity of charges is beginning to erode the investment gains recorded under the Petroleum Industry Act...

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A 700,000-bpd East African oil refinery proposed by Africa’s richest man, Aliko Dangote, will be built in Kenya, a senior company official said Tuesday, putting a lid on speculation over the location of the mega-project.

The massive refinery, similar to Dangote’s sprawling complex in Nigeria,...

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has pledged to run the sector with stricter standards of transparency, equity, and predictability as the country navigates three major industry shifts in five years.

Authority Chief Executive Mallam Rabiu A. Umar gave the...

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The Economic and Financial Crimes Commission (EFCC) is poised to arraign the former Managing Director of Warri Refining and Petrochemical Company Limited (WRPCL), Jimoh Yisawu, on Friday, and the former Managing Director of Port Harcourt Refining Company Limited (PHRCL), Ahmed Dikko, on Wednesday,...

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