COGNICURRENT

Nigeria is focusing on enhancing non-oil exports through air cargo reforms aimed at improving infrastructure and revenue generation.

President Bola Tinubu's executive order bans the deduction of management fees by the Nigerian National Petroleum Company Limited, affecting substantial revenue streams for the Nigerian federation.

The U.S. government has imposed new economic sanctions aimed at Iranian individuals, companies, and oil tankers to reduce Tehran's revenue ahead of upcoming nuclear talks in Geneva.

Nigeria has launched its first gravimetric flow metering calibration facility aimed at reducing oil losses and increasing government revenue.

Experts warn that Nigeria's anticipated N14.57tn oil revenue may not be effectively utilized by governments amid concerns about governance.

The war in Ukraine has escalated into international waters as Ukraine and its Western allies declare war on the Russian shadow fleet to cut off oil revenue funding Russia's war efforts.

The ongoing conflict in Ukraine now extends to international waters, where Kyiv and its allies target Russia's oil revenue infrastructure amid escalating Western sanctions.

The Niger Delta Safety Watch has called for President Bola Tinubu to reassess the pipeline surveillance system in the South South region due to ongoing security challenges affecting oil production and national revenue.

The Revenue Mobilisation Allocation and Fiscal Commission has endorsed President Bola Tinubu's executive order mandating direct remittance of oil and gas revenues to the federation account, citing it will enhance revenue inflows and reduce leakages.

The Nigerian Federal Government is conducting an investigation into the Nigerian National Petroleum Company Limited's financial activities to address revenue leakage issues.

The Nigerian Minister of Finance announced that a forensic audit of the National Petroleum Company is currently being conducted to enhance transparency in oil revenue management.

The Revenue Mobilisation Allocation and Fiscal Commission has stated that President Bola Tinubu’s Executive Order on oil and gas revenue remittance will enhance funds to the Federation Account and reduce revenue leakages.

The Nigerian Senate has threatened to cut the 2026 budget proposal due to unrealistic revenue projections and poor performance in oil benchmarks.

President Bola Tinubu's new Executive Order could lead to an additional N14.57 trillion in allocations for federal, state, and local governments in Nigeria.

The article discusses how Europe's failure to address Russia's shadow fleet allows it to maintain significant oil revenue, essential for supporting its economy and military actions against Ukraine.

Russia expects its revenue from oil and gas to decrease nearly 50% in February 2025 due to a stronger ruble and lower oil prices.

President Bola Tinubu has issued an Executive Order mandating the Nigerian National Petroleum Company to directly remit taxes and royalties to fiscal authorities, suspending previous fees collected.

Cuba faces a severe fuel shortage and increasing electricity outages due to the U.S. oil blockade, leading to a significant decline in tourist revenue and looming food scarcity for its population.

Cross River State is expected to be re-listed as an oil-producing state following the submission of a final report by a Federal Government committee.

Ecuador's Petroamazonas has awarded the export of 14.4 million barrels of crude oil to four international firms, generating an estimated $644.8 million in revenue for the state.

India is reportedly gradually reducing its purchase of Russian oil, impacting Russian revenue and raising questions about support for Ukraine in the ongoing conflict.

The purchase of Russian oil has declined following the India-U.S. trade deal, leading to increased tensions for Putin due to cargo shifting from India to China and the pressure on Russia's oil revenue caused by sanctions and fake destinations shown to Singapore.

The Nigerian government aims to achieve a revenue target of N40.7 trillion by 2026, focusing on enhanced non-oil collections and improved compliance measures.

According to the Russian Ministry of Finance, the budget deficit surged to 1.7 trillion rubles in January, almost half of the Kremlin's annual deficit target, due to a 50% drop in oil and gas revenue and falling prices for Russian oil.

President Lula's plan to phase out fossil fuels will highlight Brazil's opportunities in this transition, along with risks like wasted clean energy due to storage shortages and the economic burden of the oil industry.

The Federal Revenue Service seized 240 kg of cocaine hidden in a shipment of soybean oil at the Port of Santos, destined for Portugal with a stopover in Morocco.

Russia is facing increasing budget challenges due to declining oil and gas revenues, with the potential loss of India as a major customer exacerbating the situation.

Russia's oil and gas revenues dropped to their lowest level in five years in 2025, due to falling crude oil prices and declining gas exports, with state budget revenue decreasing by 24% compared to 2024.

President Trump has enacted an emergency executive order to safeguard Venezuelan oil revenue in US accounts from legal claims, aligning with US foreign policy goals.

Supporters of ousted Venezuelan leader Nicolas Maduro protested in Caracas following his capture by US forces, while Trump signed an order to safeguard US-held revenues from Venezuelan oil.

President Trump has signed an executive order to protect Venezuelan oil revenue from legal actions, aiming to bolster U.S. foreign policy objectives and ensure economic stability in Venezuela.

President Trump has issued an executive order preventing U.S. courts from seizing Venezuelan oil revenues in American accounts, citing national security and foreign policy concerns.

The US plans to sell Venezuelan oil indefinitely and deposit the revenue into Washington-controlled accounts, following a military operation in Caracas that resulted in significant casualties.

China's significant oil-for-loan debts to Venezuela are threatened in the wake of a change in government, although crude oil exports to China are likely to continue as the new administration seeks revenue.

Donald Trump announced that Venezuela will only purchase American products using its oil revenues, under a conditional agreement involving revenue oversight by the U.S.

President Donald Trump announced that Venezuela will use its oil revenue to purchase exclusively American products, following news of Venezuela preparing to sell sanctioned oil to the United States.

Donald Trump claimed on Truth Social that under a new oil deal, Venezuela will use its oil revenue to purchase American products exclusively.

Trump announced that Venezuela will deliver up to 50 million barrels of oil to the USA, and he will personally oversee the revenue from the sale.

President Trump stated that U.S. oil companies may need to invest significantly to restore Venezuela's energy infrastructure, with the expectation of recovering costs either directly from the U.S. or through revenue generated.

Donald Trump asserts that he will lead Venezuela towards a safe and appropriate transition while American oil companies will repair the damaged infrastructure and start generating revenue for the country.