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  • A Niger Delta fighter poses with a heavy machine-gun at his militia's creek camp.

    A new wave of attacks on Nigeria's oil infrastructure appears to make good on militants' threats to target repaired facilities.

  • Excess gas is burnt off at a pipeline at Rumaila oilfield in Basra, Iraq.

    With OPEC unable to make good on production cuts, the oil markets are in for another rough year, says John Kilduff.

  • Pipelines and oil storage tanks in Cushing, Okla.

    U.S. crude oil in storage rose by the largest amount on record, and analysts are looking overseas for answers.

  • Mark II Unitorque electric pumping unit at a crude oil well site outside South Heart, North Dakota.

    The oil market is up against this vicious cycle and breaking out will be hard, says trader Anthony Grisanti.

  • LAGOS, Oct 31- Nigeria's largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday. Privately owned Arik Air needs more planes as it aims to add international routes and increase services, including daily flights to New York, to offset a slowdown at...

  • *Militants fight for greater share of oil money in Niger Delta. *Buhari due to meet Niger Delta leaders on Tuesday. LAGOS, Oct 31- A Nigerian militant group threatened on Monday to step up attacks on oil facilities in the Niger Delta if the president pursues a military campaign, casting a shadow over peace talks between the government and groups due to start on...

  • ABUJA/ LAGOS, Oct 27- Nigeria launched a $10 billion infrastructure programme on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end the attacks, Oil Minister...

  • ABUJA/ LAGOS, Oct 27- Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end the attacks, Oil Minister...

  • LAGOS/ LONDON, Nigeria, Oct 27- An angry crowd blocks access to a Chevron facility in Nigeria's oil-producing south to demand jobs and housing, a common refrain from poor communities in the Niger Delta swamps. The incident shows what the government must address when it meets community leaders and militants in Abuja next week in an attempt to end armed attacks on...

  • A general view shows an Iraqi national flag flown in front of excess gas as its being burnt off, at a pipeline in the newly opened section of the oil refinery of Zubair, southwest of Basra in southern Iraq

    Iraq is OPEC's second largest producer, but analysts say the odds of Baghdad being exempt from planned output cuts are actually good.

  • WEDNESDAY, OCTOBER 26 SEOUL- Bank of Korea Governor Lee Ju-yeol to hold a regular meeting with professors etc to discuss economic issues- 2230 GMT. CAPE TOWN- South African Finance Minister Pravin Gordhan presents the medium-term budget policy statement to parliament, with the Treasury's latest budget deficit and the economic growth projections for the next...

  • ABUJA, Oct 24- Nigeria will hold a meeting with community leaders and representatives of militants from the Niger Delta next week in Abuja to end the insurgents' attacks on oil facilities in the southern region, two government sources told Reuters on Monday. Nigeria has been holding talks for months to end the violence but no lasting ceasefire has been agreed do...

  • *Property prices drop sharply in Nigeria due to recession. *Nigeria attractive only for high-risk investors with patience. LAGOS, Oct 20- A property market crash in Nigeria offers opportunities for brave investors betting that Africa's most populous nation will deliver high returns when it climbs out of recession.

  • ABUJA, Oct 19- Nigeria needs more time to negotiate a railway concession project with U.S. company General Electric, the transport minister said on Wednesday. Both sides have confirmed talks on GE being granted a railway concession in the OPEC member worth around $2 billion.. The West African country has already signed two deals worth around $5 billion with China...

  • *Nigeria struggles with first recession in 25 years. LAGOS, Oct 18- A row between the Nigerian President Muhammadu Buhari and his wife has brought cracks in the ruling party right into the open, as frustration grows over government inertia in trying to drag the country out of its first recession in 25 years. Buhari came to power backed by his All Progressives...

  • *Nigeria struggles with first recession in 25 years. LAGOS, Oct 18- A row between the Nigerian President Muhammadu Buhari and his wife has brought cracks in the ruling party right into the open, as frustration grows over government inertia in trying to drag the country out of its first recession in 25 years. Buhari came to power backed by his All Progressives...

  • DUBAI, Oct 18- Emirates airline could reduce the frequency of flights to Africa or cut routes entirely if current economic and financial challenges on the continent continue, the company's President said on Tuesday. Emirates has expanded rapidly in Africa to benefit from increased demand that accompanied growing links between the Middle East and the...

  • DUBAI, Oct 18- Emirates airline could reduce the frequency of its flights to African cities or cut routes completely if current economic and financial challenges on the continent continue, President Tim Clark told reporters on Tuesday. Emirates has started a detour to Accra, Ghana to refuel its daily Abuja- bound flight, a spokesman said last month; the airline...

  • A man looks on as flares burn from pipes at an oil flow station in Idu, Rivers State, Nigeria.

    Chinese investors could lift Nigeria’s ailing economy, but not necessarily through investment in the country’s vulnerable oil industry.

  • LAGOS, Oct 14- Nigeria's central bank will sell two-month dollar forwards at an auction on Friday to clear a backlog of demand from airlines, manufacturers and other companies, traders and the ministry of transport said, as the country's currency crisis deepens. Dollar shortages have caused many firms to halt operations and lay off workers, compounding an...