Oil
US considers naval blockade on Cuba amid oil supply tensions
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Reports indicate the Trump administration is weighing a naval blockade to halt oil imports to Cuba, prompting strong condemnations from Havana and international allies. Cuban officials have labeled the potential move a brutal act of aggression, while China and Russia voice support for the island nation.
Japan's largest oil refiner, Eneos Holdings, plans to expand its team for oil-derivative trading at overseas offices including Singapore. This initiative aims to boost its presence in major trading hubs amid high volatility in oil markets at the start of the year.
Reported by AI
Nigeria’s economic outlook gains support from rising global oil prices and stronger foreign exchange inflows, which are boosting the naira.
Residents in Nigeria's Niger Delta are raising concerns about public health risks and environmental harm from oil theft and spillage.
Reported by AI
GeoPark reported an average annual production of 28,233 barrels of oil equivalent per day (boepd) in 2025, exceeding its guidance range of 26,000 to 28,000 boepd. In the fourth quarter, production reached 28,351 boepd, driven by optimizations and key divestitures. The company operated six drilling rigs and completed 16 wells over the year.
Former prime minister Carl Bildt testified in the Lundin Oil trial at Stockholm District Court about the company's operations in Sudan. He described the company as a positive force in a complicated conflict zone and questioned reports of abuses. The indictment concerns suspected complicity in war crimes from 1999 to 2003.
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JP Morgan released its first report of the year on global markets strategies, highlighting a potential rebound in Venezuelan oil supply to 1.2 million barrels per day in coming months. For Colombia, it forecasts 2.8% GDP growth this year and 6.1% inflation by year-end. The report also covers geopolitical tensions and the US labor market.
SERAP sues NNPCL over missing ₦22.3bn, $49.7m oil money
January 31, 2026 19:54Cuba condemns US escalation of oil blockade
January 31, 2026 03:35GeoPark acquires Frontera Energy assets to triple its production
January 30, 2026 12:35Debate on changing oil royalties distribution divides opinions
January 29, 2026 06:51Oil exploration consultant seeks equal FG appointments for Ogonis
January 22, 2026 03:44Tinubu approves oil drilling at Ogun Waterside, okays Olokola deep seaport takeoff
January 21, 2026 15:22Egypt pays $5bn of arrears to foreign oil partners
January 19, 2026 21:30Finance Ministry secures oil revenues for 2026 with hedges
January 19, 2026 09:05Grupo Carso acquires Ichalkil and Pokoch oil fields from Lukoil
January 17, 2026 20:10Oil geopolitics shifts with Maduro's downfall