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  • The violence erupted in Nigeria's restive south as the military mounted an offensive in the oil rich south-central Niger Delta and separatists protested in the southeast. Over the weekend, soldiers fired on speedboats believed to be carrying Niger Delta militants preparing to strike oil installations and killed or wounded an unknown number, army...

  • PORT HARCOURT, Nigeria, May 26- Slumped in a chair at Port Harcourt airport in Nigeria's Delta region, community leader Udengs Eradiri warns that attacks on oil facilities there are likely to escalate unless the government "changes its body language". Intensifying attacks in the Niger Delta this year have driven the OPEC member's oil output to a more than 20- year...

  • JOHANNESBURG— Uber is expanding in Africa. The ride-hailing company said Thursday that it plans to start operating in the capitals of Ghana, Uganda and Tanzania within a month. Uber already operates in the cities of Nairobi and Mombasa in Kenya, Lagos and Abuja in Nigeria and five cities in South Africa— Johannesburg, Pretoria, Cape Town, Durban and Port Elizabeth.

  • ABUJA, May 24- Nigeria's central bank abandoned its naira peg to the dollar on Tuesday in favor of a flexible currency regime, a policy U-turn designed to boost local manufacturing and exports and stave off a recession. However, Governor Godwin Emefiele sparked confusion in Africa's biggest economy by declining to say how the shift from a naira fixed at 197 to the...

  • Oil prices get a lift amid tightening supplies

    Three major factors are helping WTI and Brent crude trade higher on Friday.

  • John Kilduff

    Goldman turned bullish on oil recently but John Kilduff says he thinks oil is more likely to fall back to $35 a barrel.

  • LAGOS, Nigeria— Militant attacks on oil installations and the threat of a nationwide strike drove Nigeria's petroleum production and its naira currency to new lows Tuesday. Nigeria's oil output dropped to 1.4 million barrels a day, Oil Minister Ibe Kachikwu said Monday, endangering a budget based on production of 2.2 million barrels. Nigeria's National...

  • Motorists queue to buy petrol at a fuel station in Ahaoda in Nigeria's oil state in the Delta region.

    Shares of oil and gas companies were higher Monday as crude prices neared November highs.

  • Deal at Vienna meeting?

    Discussing global oil production, after news of Nigeria's falling oil output, with Helima Croft, RBC Capital Markets, and John Kilduff, Again Capital.

  • Amrita Sen, chief oil analyst at Energy Aspects, says she believes the crude’s rebalancing process has begun and is likely to stay.

  • ABUJA/ WASHINGTON, May 15- Nigeria's central bank denied a report that it planned to devalue the naira, while the International Monetary Fund reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Hours earlier, Nigeria had cut petrol subsidies, lifting pump prices by up to 67 percent, a move the IMF...

  • *Explosion hits Chevron facility in Nigeria's delta. SINGAPORE/ LONDON, May 13- U.S. oil major Exxon Mobil Corp said on Friday it has suspended exports from Nigeria's top crude stream, adding to economic strains from unrest and violence that have cut production to its lowest in decades. The outages adds to production problems at two of the other largest crude...

  • *Nigeria in middle of worst economic crisis in decades. LAGOS, May 11- Nigeria's government raised fuel prices by 67 percent and urged the central bank to adopt a more flexible currency policy to spur investment, top officials said on Wednesday as Africa's largest economy battles its biggest crisis in decades. A fall in global oil prices has hammered state income,...

  • LAGOS, May 11- Nigeria needs a "substantial" review of its foreign exchange policies and will see very soon a more flexible approach, Vice President Yemi Osinbajo said on Wednesday, as it faces dollar shortages and investor complaints about a high naira rate. Asked whether Nigeria needed to devalue the naira, Osinbajo said that "there is an ongoing debate" in...

  • LAGOS, May 11- Nigeria is counting on foreign investment to help diversify its oil-dependent economy. Fears its naira currency is overvalued have deterred many investors, but some, including China, see its fast-rising population as a powerful long-term draw. The International Monetary Fund has recommended a more flexible exchange rate but the 73- year-old...

  • ANKA, Nigeria, May 11- Arriving on motorbikes after midnight, a dozen gunmen opened fire on gold miners sleeping at a camp in northern Nigeria last month, killing one of them and stealing their equipment before fleeing into the bush. The site, a collection of huts and tents flanked by Baobab trees where locals sell nuggets they get from crushing and washing rocks, is...

  • UK PM: Afghanistan, Nigeria ‘fantastically corrupt’

    Casey Kelso, advocacy director at Transparency International, talks about the changes coming from key countries when it comes to fixing corruption.

  • UK PM insults Nigeria and Afghanistan

    David Cameron, U.K. Prime Minister, was caught on camera calling Nigeria and Afghanistan the most corrupt countries in the world.

  • An oil tanker is seen off the port of Bandar Abbas, southern Iran.

    As the world focuses on the effect of the Canadian wildfire on oil, Barclays points to a longer term problem.

  • Writing was on the wall for Ali Al Naimi: Barclays

    The outage in Nigeria is the event that’s “really spooking” oil markets, says Miswin Mahesh, Barclays oil analyst, while making additional comment on the reshuffle in Saudi Arabia.