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Dangote refinery minor incident, no threat to production

The Dangote refinery has resumed production after a minor fire outbreak, ensuring continuous supply. Looking ahead to the second half of 2024, Dangote promises to guarantee the supply of quality petroleum products at prevailing international prices.

Brent increases to $86pb, 2.5% above the price in May

Brent crude prices increased by 1.03% to $86.13 per barrel on Thursday due to escalating Middle East tensions, amplified by Turkish President Erdogan’s backing of Hezbollah. Similarly, oil prices are expected to remain bullish in the near term due to mounting geopolitical tension.

Cooking gas prices increased by 70% in May

The average price of a 5kg cylinder of cooking gas in Nigeria has spiked by 70.12% (YoY) to N7,418.45 up from N4,360.69 in May 2023, At this level, there may be a threat to transition from coal and kerosene fossil to green sources of energy.

FDC’s M.D., Mr. Bismarck Rewane, and senior analyst, Terver Kumeka, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link  to watch the video.

Enjoy your read!