Author: <span>backcom_webt</span>

Nigerian Firms Lead Historic Shift in Oil Asset Ownership

Local producers are stepping in to fill the gap left by departing foreign companies in Africa’s largest oil producer. A New Era in Nigeria’s Oil Industry Osayande Igiehon, CEO of Heirs Energies, grew up in a region of Nigeria marked by oil pipelines—legacy infrastructure from decades of foreign energy investment. Today, he stands at the […]

U.S. Watchdog Warns Tariff Turmoil Could Undermine Appeal of American Assets

The head of the Congressional Budget Office (CBO) has raised concerns that market volatility triggered by President Donald Trump’s tariff policies could become a “tipping point” for foreign investors, potentially weakening demand for U.S. assets and undermining economic stability. Market Turbulence Raises Alarm Phillip Swagel, Director of the CBO, told the Financial Times that the […]

Trump Says U.S. Will Maintain 10% Tariff Baseline Even After Trade Deals Are Reached

WASHINGTON, May 9 (Reuters) — President Donald Trump announced on Friday that the United States will maintain a baseline tariff of 10% on imported goods even after trade agreements are signed, signaling a shift in the nation’s long-term trade policy. He also stated that exceptions may be granted if countries offer significant concessions in future […]

Mexico’s Finance Minister States Pemex Aims to Return to Capital Markets When Conditions Improve

On May 9, 2025, Mexico’s Finance Minister, Edgar Amador, revealed that the country’s state-owned oil company, Pemex, hopes to re-enter the capital markets in the medium term. This statement comes as Pemex faces an enormous debt burden of $101 billion, and has not been able to raise capital from the market for several years due […]

UK Imposes Sanctions on Key Figures in Russia’s Oil Trade

The UK has recently imposed sanctions on key individuals it believes are involved in Russia’s oil trade, aiming to intensify economic pressure on Moscow amid ongoing peace negotiations for Ukraine. The latest measures are described by UK Prime Minister Keir Starmer as “the largest ever sanction package” targeting oil tankers in Russia’s so-called “shadow fleet.” […]

ECB’s Schnabel Warns Tariffs May Limit Scope for Interest Rate Cuts

A senior official at the European Central Bank (ECB) has warned that ongoing trade tensions and higher government spending may elevate inflation across the eurozone, potentially limiting the central bank’s ability to continue cutting interest rates. Tariffs and Defense Spending Raise Inflation Risks Speaking at Stanford University in California on Friday, Isabel Schnabel, a member […]