Commodity markets are helping to stabilise the global economy. PHOTO/Pexels/Kamaji Ogino. By BUSINESS CORRESPONDENT [email protected] Global commodity prices are projected to fall to their lowest level in six years in 2026, marking the fourth consecutive year of decline, according to the World Bank Group’s latest Commodity Markets Outlook. Prices are forecast to drop by seven…
The World Bank Group has projected global commodity prices to fall to lowest level in six years in 2026, marking the fourth consecutive year of decline. According to its latest commodity markets outlook, the organisation forecast prices to drop by seven percent in both 2025 and 2026, driven by weak global economic growth, a growing…
Bernd Debusmann Jr,at the White House, Max Matza and Ian Aikman ‘It was time’, says Trump on increase in Russia sanctions The US has announced new sanctions targeting Russia’s two largest oil companies in an effort to pressure Moscow to negotiate a peace deal in Ukraine. The announcement came one day after US President Donald…
Abuja — Despite controlling at least 60 per cent of West Africa’s $80 billion oil market, Nigeria’s cost of drilling per barrel is about 40 to 50 per cent higher than its peers, a report by Deloitte, a global firm which provides audit, consulting and financial advisory services across various industries, has said. Besides, the…
An aerial view of Chevron crews attempting to extinguish a large fire and explosion that occurred at Chevron Refinery in El Segundo Thursday, Oct. 2, 2025. Allen J. Schaben | Los Angeles Times | Getty Images A huge fire broke out on Thursday night at a Chevron oil refinery in California, one of the largest…
LOS ANGELES — A massive fire erupted at a Los Angeles-area Chevron oil refinery Thursday night, sending a fireball in the air and startling residents, according to officials and video that captured the scene. There were no injuries, Chevron said. The fire was seen at the refinery around 9:32 p.m. (12:32 a.m. ET), according to police…
·Nigeria, 7 others sign AFRIPERF charter Emmanuel Addeh in Abuja Nigeria and seven other African countries yesterday signed a charter to birth the African Petroleum Regulators Forum (AFRIPERF), a demonstration of the country’s leadership in Africa’s oil and gas sector. The charter seeks to enhance cooperation and collaboration among African petroleum regulators, to ensure a…
No, applying castor oil to sanitary pad won’t solve reproductive health issues IN SHORT: Facebook posts claiming that castor oil applied to a sanitary pad can fix issues such as endometriosis and stomach cramps are being shared widely. But there’s no scientific evidence to support these claims. “Try this and thank me later” reads the…
An oil and gas rig. PHOTO/AEC By SPECIAL CORRESPONDENT [email protected] Shell’s plans to explore for oil and gas in South Africa’s Orange Basin, recently granted environmental authorization to drill up to five deepwater wells, now faces a court appeal from environmental groups and coastal communities. While legal challenges are a natural part of democratic governance,…
This report is from this week’s CNBC’s “Inside India” newsletter. Like what you see? You can subscribe here. The big story If refineries are the oil industry’s children, India’s got plenty of mouths to feed — and U.S. tariff threats over Russian crude are imperiling a distinctly affordable meal ticket. This week, U.S. President Donald Trump…
