WTI Crude Advances as Brent Futures Narrow to 9-Month Low
Oil – Bloomberg reported that West Texas Intermediate crude rose 0.7% on Nigeria clashes, as Iran talks ended without agreement.
Articles Tagged "Nigeria"
Gunmen Abduct Six Foreign Oil Workers Near Nigeria Coast
Oil – Bloomberg reported that gunmen took six foreign oil workers in Bayelsa and demanded $1.3 million to free them.
Tantalum in Africa
Tantalum – Tantalum from Africa is often overshadowed by conflict in one country, but the metal can be found across the continent.
First Half: Oil Output Dropped For Nigeria, Gas Rose
Oil – Crude output from Nigeria, Africa’s top oil producer, fell 2.3 percent in the first half to 382 million barrels as gas production ascended almost 25 percent to 34 billion cubic meters, a central bank report showed.
Nigeria’s Ratings Risk Downgrade If Its Oil Savings Fall
Oil – Nigeria’s credit ratings may be drop if the country raises its proposed oil benchmark price and fails to increase its savings, President Goodluck Jonathan said.
Sinopec buys Totals Nigerian Oil Field for $2.5 Billion
Oil – Total SA (FP), France’s largest oil company, sold its 20 percent stake in an offshore Nigerian field to China Petrochemical Corp. for roughly $2.5 billion as part of an asset-disposal program.
Has Nigeria Lost $37 Billion in Oil Underpayments?
Oil – Bloomberg reported that Goodluck Jonathan, the president of Nigeria, received a report that indicates that over the last ten years the country may have lost $37 billion or more in revenue due to underpayments for oil. Jonathan plans to launch an investigation to get to the bottom of the matter.
Flooding Brings Nigerian Oil Output Down by 500,000 Barrels a Day
Oil – Bloomberg reported that in the last couple of weeks, Nigeria's oil output has declined from 2.6 million barrels a day to 2.1 million as a result of flooding of the oil fields on its Niger River delta.
Shell in Dutch Court Over Oil Pollution Accusations
Oil – Platts reported that a legal case brought against Royal Dutch Shell plc's (LSE:RDSA) Nigerian unit by Friends of the Earth Netherlands and four Nigerian plaintiffs is kicking off in a Dutch court today. The groups have accused Shell and some of its holdings companies of not cleaning up pollution caused by three leaks that occurred from 2004 to 2007.
Oil Pirates Thwarted by Nigerian Navy
Oil – Reuters reported that the Abu Dhabi Star, a Singapore-registered oil tanker that was hijacked by pirates, was freed when approached by a Nigerian naval ship and helicopter.
