NNPC Denies Allegations of Staged Fuel Loading at Port Harcourt Refinery
The Nigerian National Petroleum Company (NNPC) Limited has refuted claims that the recent loading of petrol at the rehabilitated Old Port Harcourt Refinery involved old petroleum stock. The allegations, made by Timothy Mgbere, a representative of the Alesa community stakeholders, accused the NNPC of staging the refinery’s re-streaming and truck-loading activities. NNPC spokesperson Femi Soneye […]
Dow Hits Record High Despite Trump’s Tariff Pledge
The Dow Jones Industrial Average closed at a record high on Tuesday, rebounding swiftly less than a day after President-elect Donald Trump’s announcement of sweeping tariffs on Canada, China, and Mexico sparked fears of market turmoil. The Dow rose 0.25% during the trading session, closing at 44,860.31. The S&P 500 also hit a record, climbing […]
Dangote Refinery Reduces Fuel Price to ₦970 Per Litre, Assures Stable Supply
Dangote Petroleum Refinery has announced a price reduction for Premium Motor Spirit (PMS), lowering it from ₦990 per litre to ₦970 per litre for marketers. The company described the move as a gesture of gratitude to Nigerians and recognition of the government’s support for domestic businesses. In a statement on Sunday, Anthony Chiejina, Group Chief […]
New U.S. Inflation Data Set for Release as Economic Growth Fuels Optimism for ‘Soft Landing’
The U.S. government is set to release new inflation data on Wednesday, providing an updated view on price trends just over a week after inflation concerns seemed to contribute to former President Donald Trump’s re-election victory. Since reaching a peak of 9% in 2022, inflation has significantly cooled, now close to the Federal Reserve’s target […]
Shell Wins Appeal in Landmark Dutch Climate Case, Overturning Ruling to Cut Emissions by 45%
Oil giant Shell has won a landmark appeal in the Dutch courts, overturning an earlier ruling that required the company to cut its carbon emissions by 45%. The Hague Court of Appeal concluded that while Shell has a duty to limit emissions for the public good, it could not establish a specific “social standard of […]
Boeing Workers End Seven-Week Strike After Accepting New Contract with 38% Pay Increase
Boeing workers have voted to accept the company’s latest pay offer, bringing an end to a seven-week strike that had significantly impacted operations. The new contract grants workers a 38% pay increase over the next four years. The International Association of Machinists and Aerospace Workers (IAM) union announced that striking workers could begin returning to […]
Alibaba Agrees to $433.5 Million Settlement in U.S. Class-Action Lawsuit Over Alleged Monopolistic Practices
Alibaba Group Holding Ltd., China’s leading e-commerce company, has agreed to a $433.5 million settlement in a class-action lawsuit filed by U.S. investors alleging monopolistic practices and misleading statements that inflated its stock value. The lawsuit, initiated in 2020, accused Alibaba of anti-competitive behavior and making false statements, which the plaintiffs claim led to financial […]
Boeing Machinists Reject New Contract Proposal, Extending Weeks-Long Strike
Boeing machinists have rejected a new contract proposal, extending a weeks-long strike against the aerospace giant. According to the International Association of Machinists and Aerospace Workers (IAM), which represents 33,000 workers in Washington, Oregon, and California, 64% of members voted against the proposed contract on Wednesday. Boeing representatives did not offer a comment following the […]
UK Responds to Festus Keyamo’s Call for Air Peace Access to Heathrow
The United Kingdom has responded to the recent threat by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, to restrict British carriers from flying out of Lagos and Abuja if Air Peace is not granted slots at Heathrow Airport. The minister had argued that in line with the Bilateral Air Services Agreement (BASA) […]
Dangote Refinery to Withdraw ₦100 Billion Lawsuit Against NMDPRA and NNPCL
Dangote Refinery has announced plans to withdraw its ₦100 billion lawsuit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Corporation Limited (NNPCL), and five other petroleum companies. The suit, filed in September 2024, challenged the NMDPRA’s decision to continue issuing import licenses for petroleum products, despite the refinery’s local […]
