Activities of the Niger Delta militant groups also known as the Movement for the Emancipation of the Niger Delta people, has affected major oil facilities belonging to Agip, Shell and Chevron, and have also resulted in adverse consequences on oil production in Nigeria. For full story, click here
Nigerian crude oil output was around 1.6 million barrels per day excluding condensate before the latest Niger Delta unrest late last week. For full story, click here
Nigeria’s main militant group declared that it would blockade key waterways in the Niger Delta to try to prevent crude oil exports after days of military helicopter and gunboat raids on its camps. For full story, click here
As the prices of crude oil tumbled to a five-month low, American Airlines parent AMR Corp., Delta Air Lines Inc., Continental Airlines Inc. and other carriers rose in US trading. Jim Corridore, a Standard & Poor’s equity analyst in New York, said: If this is the start of a nice downward trend, it is extremely [...]
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