Iran's Oil Minister Resigns as US Blockade Cuts Crude Exports
B. Stephanie Okorie
Iran's oil minister, Mohsen Paknejad, has resigned, and Hamid Bovard, head of the National Iranian Oil Company (NIOC), has been named acting minister.

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08024545197B. Stephanie Okorie
Iran's oil minister, Mohsen Paknejad, has resigned, and Hamid Bovard, head of the National Iranian Oil Company (NIOC), has been named acting minister.


Petrol prices in Calabar and Port Harcourt have fallen as much as ₦22 per litre below Dangote Petroleum Refinery’s ex-gantry rate, driven by increased product availability and intense competition among depot operators in the two markets

OPEC+ has kept its November oil production target unchanged at 31.01 million barrels per day for its seven core members, despite a recovery in crude flows through the Middle East and signs that supply constraints are beginning to ease

The estimated spot landing cost of diesel in Nigeria has fallen by ₦127.28 per litre in two days, dropping to ₦1,696.40 per litre on October 2 from ₦1,823.68 recorded on September 30, according to the Major Energies Marketers Association of Nigeria (MEMAN)

Fresh petroleum product movements are continuing across Nigeria’s coastal supply chain, with PMS, AGO, Jet A1 and Butane cargoes recorded across key receiving terminals in Lagos and Port-Harcourt.
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