Nigeria

Nigeria opened an international economic summit on Monday to discuss Africa's investment opportunities abroad and the growth of the private sector.

The latest surge in energy prices may prove the undoing for a U.S. economy already pressured by a housing slowdown and accelerating inflation.

Oil prices topped $78 per barrel Friday and held near record highs as intensifying violence in the Middle East raised concerns of possible supply disruptions.

Crude oil futures rose to record highs on Thursday, hitting European stocks and the dollar, with worries over rising tensions in the Middle East and North Korea affecting sentiment across the board.

A Nigerian court has given Royal Dutch Shell a Monday deadline to pay $1.5 billion in damages for pollution in the oil-producing state of Bayelsa, the energy giant said on Saturday.

Oil fell below $72 on Thursday, deepening losses from the previous session, as worries over U.S. gasoline supplies eased slightly ahead of the summer driving season.

Chief executives of the world's top energy companies met ministers from the biggest producers on Saturday with record oil prices of above $75 a barrel speeding the race for supply investment.

A blistering four-year rally in crude oil shows no sign yet of running out of steam and crude could top $80 a barrel this year, boosting fuel costs for consumers and businesses, analysts said on Tuesday.

U.S. crude oil prices hit $70 on Monday, the highest level for nearly eight months, as Iran's pursuit of its nuclear programme heightened fears the U.S. might take military action against the oil-producing nation.

Rich countries' spending on official aid to the world's poor leapt to a record high in 2005 due to large debt relief packages for Iraq and Nigeria, the OECD said on Tuesday.