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Warning about Nigeria shakes the oil markets
The U.S. consulate warned Friday that Nigerian militants may be planning to expand their activities beyond the country’s restive oil-producing southern regions.
Crude prices in New York rose more than $1 to settle above $59 a barrel, in part because of worries over the consulate’s statement.
The warning by the U.S., which receives more than 10 percent [...]
Oil prices jump more than $1 per barrel
Oil prices jumped more than $1 per barrel Friday, led by gains for heating fuels, in another volatile trading day for crude. Light, sweet crude for March delivery rose $1.40 to settle at $59.39 a barrel on the New York Mercantile Exchange after dipping as low as $57.59 earlier in the session.
Helping to push up [...]
CNOOC profit tops forecasts
HONG KONG (Reuters) – CNOOC Ltd. (0883.HK: Quote, Profile, Research), China’s top offshore oil and gas firm, beat forecasts with a 38 percent jump in first-half earnings on Tuesday after higher oil prices offset a hefty windfall tax payout.
The company reaffirmed its output targets for 2006.
Analysts expect CNOOC to sustain growth in the second half [...]
In Africa, China Trade Brings Growth, Unease
Every time newspaper publisher Trevor Ncube visits his native Zimbabwe, he said, there seem to be more Chinese. He sees them shopping at boutiques, driving fancy cars, picking up their children from elite private schools.
And as in much of Africa, Ncube said, China’s reach into Zimbabwe’s economy is equally pervasive: The roads are filled with [...]
