Saudi Arabia has announced its decision not to renew its 50-year petro-dollar agreement with the United States, which had mandated oil sales exclusively in US dollars. This agreement expired on June 9, 2024.Â
According to Rep. Philip Agbese, the Deputy Spokesman of the House of Representatives, the Nigerian Navy has surpassed expectations in maritime security, anti-piracy operations, and crackdown on oil theft menace.Â
The price of oil ended a four-day losing streak by rising 1 percent on Friday, but fell for the week on concerns that strong US economic data would keep interest rates high.Â
The Independent Petroleum Marketers Association (IPMAN) has issued a stern warning that it will shut down its 30,000 stations nationwide if the Federal Government's outstanding debt of N200 billion isn't settled promptly.Â
