Tag: OIL
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US President Donald Trump has called on NATO countries to halt Russian oil purchases and impose up to 100% tariffs on China. While he criticized NATO’s commitment to Ukraine, arguing that reliance on Russian fuel by countries like Turkey, Hungary, and Slovakia weakens their negotiating position. Trump also downplayed recent Russian drone incidents in Poland…
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Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has refused to approve extensions for over 50 expired oil licences, mostly from the 2020 marginal fields bid round. Of the 60+ licences awarded, fewer than six have made the required investments to begin production. Lokpobiri argues that granting extensions to inactive holders is counterproductive, emphasizing the need…
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President Trump has hosted a White House summit with leaders from Senegal, Liberia, Guinea-Bissau, Mauritania, and Gabon to boost trade and counter Russia and China’s influence in West Africa. Trump emphasized Africa’s economic potential, focusing on trade-based partnerships while cutting foreign aid, including shutting down USAID. Discussions also covered security, drug trafficking, and immigration, with…
