Business Africa

  • Oil Pump

    Oil prices settled slightly higher Friday, clawing back above $125 a barrel after Israel raised new concerns about Iran's nuclear program. But more concerns that high prices are eating into demand limited the gains.

  • Oil prices ended lower Thursday, pulling back from the previous day's rally, as disappointing data on the U.S. economy signaled further cutbacks in energy demand for the world's thirstiest consumer.

  • oil_new_5.jpg

    Oil prices shot up as much as $5 a barrel, halting a dramatic two-week slide, after the US government reported a surprise drop in gasoline supplies.

  • oil_price_down2.jpg

    Oil fell to its lowest level in nearly three months, extending a steep slide since mid-July on mounting evidence high prices and a souring economy were cutting into world energy demand.

  • Royal Dutch Shell declared force majeure on Tuesday on its Nigerian Bonny Light crude oil exports for July to September following an attack by militants on an oil trunk pipeline in the Niger Delta on Monday.

  • oil_new_4.jpg

    Oil prices rose Monday, approaching $125 a barrel after militants sabotaged two oil pipelines in Nigeria and Iran claimed that it had doubled the size of its nuclear program but signaled a willingness to work with the U.S.

  • Militants in Nigeria's Niger Delta said on Monday they had attacked two major oil pipelines belonging to Royal Dutch Shell, forcing the firm to halt some production and helping push world oil prices higher.

  • Oil Pump

    Oil dropped $2 to a fresh seven-week low on Friday, extending a decline that has knocked more than $23 off crude in two weeks as high fuel prices continue to batter demand.

  • U.S. oil major Chevron said on Tuesday production has been restored at its 120,000-barrel per day Escravos crude oil pipeline in Nigeria, nearly a month after armed youths sabotaged it.

  • Nigerian senior oil workers union and Chevron are expected to resume talks on Thursday in a last-ditch effort to avert an all-out strike that could sharply cut output from the world's eighth largest exporter.

  • U.S. oil major Chevron declared a force majeure on its Nigerian Escravos crude oil exports after armed youths blew up a supply pipeline last week, a company official said on Wednesday.

  • Royal Dutch Shell said it shut down production at an offshore oil installation that produces about 200,000 barrels per day after the most powerful militant group in Nigeria said it launched an attack there Thursday.

  • Musicians Akon and Peter Buffett pose for a photograph as they announce a socially conscious musical collaboration and website.

    Two musicians with very different styles who didn't know anything about each other are now working together to promote social action.  One of them is Akon, the internationally famous Senegal-born "soul singer."  The other musician is Peter Buffett, son of the internationally famous investor Warren Buffett.

  • Frontier markets grabbed the headlines Monday after Kenya’s biggest IPO sent shares of one stock surging 60%. But is the risk worth the reward?

  • Oil Refinery

    Oil rose on Wednesday after U.S. government data showed a bigger-than-expected decline in gasoline stocks ahead of the summer driving season, offsetting a build in crude inventories.

  • oil_barrel.jpg

    Oil surged more than $2 to close at a record settling price near $120 a barrel on Tuesday as supply concerns from Nigeria and the North Sea propelled crude higher.

  • oil_new_2.jpg

    Crude oil prices hit a record closing high over $117 a barrel on Monday as rebel attacks cut Nigerian supplies and a Scottish refinery strike threatened North Sea crude production.

  • oil_pump3.jpg

    U.S. light, sweet crude settled up 36 cents, or 0.4 percent, at $101.22 a barrel on the New York Mercantile Exchange Tuesday after a day of choppy trading.

  • picks_pans_badge.jpg

    Is Africa worth a look for the American investor?  Tim Seymour of Seygem Asset Management and Terrence Gray of DWS Scudder answer emphatically in the affirmative.

  • nigerian_militants.jpg

    Nigeria’s main militant group, the Movement for the Emancipation of the Niger Delta, reportedly fired on six oil industry ships today and threatened an attack that will cause an “economic tsunami” in the world’s oil market.