Oil

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited for failing to account for missing funds amounting to ₦22.3 billion and $49.7 million from oil revenues.

31 Mwezi wa kwanza, 2026 Imeripotiwa na AI

The Cuban government has issued a strong condemnation of a new US executive order aimed at imposing tariffs on countries supplying oil to the island. The Foreign Ministry's statement labels the measure as a blatant violation of international law and a threat to regional peace. Cuba reaffirms its willingness for respectful dialogue and rejects any form of coercion.

President Tinubu has approved oil drilling at Ogun Waterside. He has also okayed the Olokola Deep Seaport's takeoff. Governor Abiodun disclosed this.

21 Mwezi wa kwanza, 2026 Imeripotiwa na AI

Prime Minister Mostafa Madbouly announced that Egypt has paid approximately $5bn in outstanding arrears to foreign partners in the petroleum sector, while committing to settle regular monthly invoices. He made the statement during a weekly cabinet meeting in the New Administrative Capital. The arrears are projected to drop to $1.2bn by June 30, 2026.

US President Donald Trump criticized ExxonMobil and threatened to bar its investments in Venezuela after the company's CEO called the country unviable for investment. The remarks followed a White House meeting aimed at securing $100 billion in private investments to rebuild Venezuela's oil sector. Despite initial skepticism, Exxon plans to send a technical team to the country soon.

11 Mwezi wa kwanza, 2026 Imeripotiwa na AI

A U.S. military incursion captured Nicolás Maduro, but analysis shows a tactical success without strategic gains. Goals to restore democracy, control oil, and displace China in the region remain unmet. One week after the event, long-term impacts are in question.