In a striking turn of events, oil prices have plummeted, with Brent crude futures dipping to $66.37 per barrel and U.S. West Texas Intermediate (WTI) crude settling at $62.37 per barrel, marking declines of 1.7% and 2.0%, respectively. This sharp downturn has sent ripples through global markets,
What happens when a nation’s tax policies choke its own industries, pushing giants to seek refuge in foreign markets? Pakistan’s largest refiner, Cnergyico, finds itself in this very predicament, forced to pivot dramatically as domestic sales crumble under the weight of punitive taxation. With
In the heart of Nigeria's bustling oil and gas sector, a potential disaster loomed large as tensions between workers and management at one of the country's most significant industrial projects threatened to boil over into a full-scale strike. Dangote Refinery, a cornerstone of national economic
In a rapidly evolving global energy landscape, Iraq is taking bold steps to secure its position as a key player in the international oil market by forging a strategic partnership with ExxonMobil to establish crude oil storage facilities near major demand centers. This initiative, driven by the
In a world where global trade is already under strain, imagine a critical industry like petrochemicals facing an additional 15% decline in trade volume due to policy barriers. This alarming scenario unfolded as a central concern at the Asia Pacific Petroleum Conference (APPEC) in Singapore, where
In a transformative development for the U.S. energy sector, Plains All American Pipeline has made a bold move to strengthen its foothold in one of the nation’s most vital oil-producing regions. The company recently announced a $1.57 billion acquisition of a 55% stake in EPIC Crude Holdings, a deal
