Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Analysts are warning that militants could soon wreak havoc on Nigeria's oil industry, plunging the African petrostate back into a cycle of sabotage.
Nigeria, Africa's largest oil producer, has seen a period of relative calm in its restive southern delta region over the last year. Early in 2016, a series of spectacular attacks carried out by a mysterious group called the Niger Delta Avengers cratered Nigeria's oil production, exacerbating an economic crunch triggered by low oil prices.
Nigeria's oil output has rebounded to 1.8 million barrels a day more quickly than anticipated this year. That has frustrated OPEC's efforts to drain a global crude glut through coordinated output cuts. A reversal would likely put upward pressure on oil prices.
"Militant groups are running out of patience, the government is unable to deliver on its promises, the president is a 'lame duck', and the umbrella group negotiating on behalf of the militants shows signs of disintegration," Malte Liewerscheidt , senior analyst at Verisk Maplecroft wrote in a briefing this month.
"All of this suggests that the current period of ostensible tranquility in the oil-producing Niger Delta could be over soon as the country heads towards elections in 2019," he said.
Attacks by the Niger Delta Avengers, who want the south to get more of the nation's energy revenue, caused billions in lost revenue and sidelined hundreds of thousands of barrels per day of output. The Avengers appear to be cooperating with a group of Niger Delta leaders engaged in talks with the federal government, but several other militant groups have signaled they've run out of patience with negotiations.
A group called the Niger Delta Revolutionary Crusaders vowed in July to resume attacks at the end of September, and various other militants have made similar threats. The same day, the Pan Niger Delta Forum said it would pull out of talks if the government did not address its list of 16 demands by November.
Manji Cheto, a political risk analyst at Teneo Intelligence, said these developments reaffirm her view that the peace deal was always temporary at best. There are too many militant groups with competing interests, and many of PANDEF's demands are too ambitious to achieve in the short term, she said.
"It's rather hopeful to say peace in the Niger Delta will hold," she told CNBC.
The odds of attacks resuming by year end are low, perhaps 30 percent, according to Cheto. But the chances will ramp up next year to about 60 percent as campaigning begins for Nigeria's February, 2019 presidential elections. A major factor will be whether southerners perceive that Vice President Yemi Osinbajo, who has spearheaded negotiations, is being sidelined, she added.
Eurasia Group, a risk consultancy, takes a more sanguine view. It believes President Muhammadu Buhari's government will strive to keep the peace during the campaign year. The firm notes that Buhari has increased payments to former militants through an amnesty program and awarded new security contracts to militant-linked firms.
New groups will likely carry out attacks in the hopes of securing similar payouts, Eurasia Group says, but it's uncertain if they can carry out sophisticated attacks similar to strikes by the Niger Delta Avengers and MEND, a group that waged a three-year campaign in the south.
"While not our base case, it is possible that one such group could acquire the resources to pull off a major attack that significantly disrupts oil production. But, even in that scenario, the administration will likely respond promptly with diplomatic overtures, reducing any further impact on production volumes," Eurasia Group's senior Africa analyst Amaka Anku wrote in a research note this month.
An outbreak of violence would add to a growing number of risks in OPEC nations. Those include $3.5 billion in debt payments coming due for Venezuela's beleaguered state oil giant, threats by President Donald Trump to reimpose sanctions on Iran's energy industry and a growing dispute in Iraq between the central government and the crude-producing Kurdish region.