NIGERIA

Oil falls to $69 on recovery concerns

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Oil fell to around $69 a barrel on Monday, extending the previous session's drop, pressured by jitters over the pace of U.S. economic recovery and easing concerns about Iran and Nigeria.

Oil falls below $69 on recovery concerns

International Business Times Logo
Oil fell to below $69 a barrel on Monday, extending the previous session's drop, pressured by jitters over the pace of U.S. economic recovery and easing concerns about Iran and Nigeria.
International Business Times Logo

Oil falls towards $69 on recovery concerns

Oil fell toward $69 a barrel on Monday, extending the previous session's drop, pressured by jitters over the pace of U.S. economic recovery and easing concerns about Iran and Nigeria.
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Nigeria says not offered disputed licences to China

Nigeria is not offering oil licences currently operated by Chevron, ExxonMobil and Royal Dutch Shell to China while renewal negotiations are ongoing, a government minister said on Tuesday.
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Sci-fi movie, Sony ad prompt Nigerian image angst

A blockbuster sci-fi movie which caricatures Nigerians as gangsters and cannibals and a Sony PlayStation advert which implies they are fraudsters have infuriated a government battling to improve the country's image.
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Global poll sees support for spending stimulus

Most people around the world support significantly increasing government spending to counter the economic crisis, according to a 20-nation opinion poll released on Monday.
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Chevron pumps first oil from $3.8 bln Angola area

Chevron Corp has started pumping crude oil from the Tombua-Landana project offshore Angola, with plans to raise output to 100,000 barrels per day by 2011, the company said on Wednesday.
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India patent rejections welcomed by HIV/AIDS groups

India's rejection of patent applications on two life-saving HIV/AIDS drugs last week has been welcomed by health officials, who say it will ensure wider access to the medicines.
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Lead-laden paint still widely sold around the world

Even as the US lowers the lead levels allowed in paint dramatically, paint with dangerously high lead levels is still being sold for household use worldwide, putting hundreds of millions of young children at risk of permanent brain damage,
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MTN sees adj H1 headline EPS up to 13.6 pct lower

South Africa's MTN Group said half-year adjusted headline earnings per share could fall by between 8.6 and 13.6 percent for the six months to the end of June, worse than market forecasts, it said on Tuesday.
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Hardy Oil posts H1 loss, cuts FY production forecast

Britain's Hardy Oil and Gas Plc (HAOG.L: Quote, Profile, Research, Stock Buzz) posted an operating loss for the first half on lower crude oil prices and higher costs, and cut its 2009 production forecast as its only producing field was shut for repairs.
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Clinton presses Angola to fight corruption

U.S. Secretary of State Hillary Clinton pressed Angola on Sunday to do more to fight corruption during a two-day visit to the oil-producing country aimed at bolstering ties between the two nations.
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Oil rises over 3 percent

Oil rose more than 3 percent to above $71 a barrel on Monday as positive manufacturing data in the United States and China raised optimism for an economic recovery that could bolster energy demand.
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Oil rises over $2 on US, China factory output

Oil rose more than $2 a barrel to hit a one-month high above $72 on Monday as positive manufacturing data in the United States and China raised optimism for an economic recovery that could bolster energy demand.
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Nigeria's Oando seeks 200 bln naira for expansion

Nigeria's top fuel retailer and gas distributor Oando Plc plans to raise 200 billion naira ($1.3 billion) through debt and equity over the next two years to expand its business, a senior executive said on Monday.
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More than 700 killed in Nigeria clashes: Red Cross

More than 700 people were killed during a five-day uprising by a radical Islamic sect in northern Nigeria and the search for bodies is continuing, Red Cross and defense officials said on Sunday.
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Clinton to meet Somali president in Africa trip

U.S. Secretary of State Hillary Clinton plans to meet the president of Somalia's transitional government during a seven-nation trip to Africa next week, the State Department said on Monday.
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ONGC taps Citi for Kosmos Ghana stake bid: sources

India's leading oil producer ONGC has hired Citigroup to advise it on a bid for Kosmos Energy's stake in an oil field in Ghana in a deal that could be worth between $3 billion and $5 billion, sources familiar with the deal said.
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Oil climbs over $60 as global equities rally

Oil prices rose by around 1 percent to above $60 on Tuesday as renewed confidence across financial markets helped to reverse some of last week's falls.
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Oil above $60 as global equities rally

Oil prices rose by around $1 dollar to above $60 on Tuesday as renewed confidence across financial markets helped to reverse some of last week's falls.
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G8 pledges $20 billion in farm aid to poor nations

G8 leaders pledged $20 billion (12.3 billion pounds) in farm aid to help poor nations feed themselves, surpassing expectations on the final day of a summit that has yielded little progress on climate change and trade.
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Chevron says Q2 hit by U.S. refining, weak dollar

Chevron Corp warned that second-quarter earnings would be hit by a sharp decline in U.S. refining margins and that any benefits from higher oil prices were largely offset by a weaker dollar, sending its shares down 1.8 percent.
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Chevron says Q2 downstream hit by U.S. refining

Chevron Corp said on Thursday it expected second-quarter earnings to be hit by a sharp decline in U.S. refining margins, while better prices on the production side would be largely offset by foreign currency effects.
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Oil rallies above $64 after four-day fall

Oil rose above $64 a barrel on Tuesday, after falling for four consecutive sessions on doubts over global economic recovery and potential improvement in demand for fuel.

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