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OPEC Pres. Expresses Nigeria's Interest for Ethanol

OPEC president Edmund Daukoru met the chief executive of Brazil's state-owned oil company on Tuesday to discuss the country's rapidly growing ethanol industry.

World can cope now with Alaska, Nigeria oil loss: IEA

The world can cope for now with the loss of about 1 million barrels per day (bpd) of oil from Alaska and Nigeria, but the pressure is on exporter group OPEC to fill the gap, the International Energy Agency said on Friday.

Nigeria Gets Partial Funding For Railway Makeover

Nigeria is set to receive a $2.5-billion loan from the US Federal Government to assist government plans to rehabilitate and modernize the country's dilapidated railway system, President Olusegun Obasanjo said on Wednesday.

Chinese labor policies mar African welcome

When Chinese investors bought struggling copper producer Chambishi Mining Plc, miners in this Zambian town gave them a heroes' welcome for averting its closure and for creating more jobs.

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Nigerian Oil Pipeline Leak Stops Production

An oil leak found in a shared pipeline in Nigeria has forced oil companies to shut down their daily production of 180,000 barrels of crude oil.

World Bank Pres. Commends Liberia on Progress

World Bank President Paul Wolfowitz ended his visit to Liberia by addressing the nation's legislature on Friday where he praised the country's economic progress, but warned there is a need for more improvements.

Africa Needs Better Infrastructure: Former UN Envoy

Africa needs better infrastructure in order to maintain the continent's social and economic balance, former UN ambassador Andrew Young said in an interview with the World Bank on Tuesday.

Nigeria Seeks Investors at Economic Summit

Nigeria opened an international economic summit on Monday to discuss Africa's investment opportunities abroad and the growth of the private sector.

Latest energy price surge may undo economy

The latest surge in energy prices may prove the undoing for a U.S. economy already pressured by a housing slowdown and accelerating inflation.

Oil prices hover above $78 per barrel

Oil prices topped $78 per barrel Friday and held near record highs as intensifying violence in the Middle East raised concerns of possible supply disruptions.

Stocks, dollar hit on record oil, political worries

Crude oil futures rose to record highs on Thursday, hitting European stocks and the dollar, with worries over rising tensions in the Middle East and North Korea affecting sentiment across the board.

Shell Gets Nigerian Deadline for $1.5 Bln Damages

A Nigerian court has given Royal Dutch Shell a Monday deadline to pay $1.5 billion in damages for pollution in the oil-producing state of Bayelsa, the energy giant said on Saturday.

Oil below $72 as Worries Over US Gasoline Ease

Oil fell below $72 on Thursday, deepening losses from the previous session, as worries over U.S. gasoline supplies eased slightly ahead of the summer driving season.

Top Oil Execs Meet at Summit

Chief executives of the world's top energy companies met ministers from the biggest producers on Saturday with record oil prices of above $75 a barrel speeding the race for supply investment.

Oil set to hit new peaks this year

A blistering four-year rally in crude oil shows no sign yet of running out of steam and crude could top $80 a barrel this year, boosting fuel costs for consumers and businesses, analysts said on Tuesday.

Oil hits $70, fears mount over Iran

U.S. crude oil prices hit $70 on Monday, the highest level for nearly eight months, as Iran's pursuit of its nuclear programme heightened fears the U.S. might take military action against the oil-producing nation.

Debt relief lifts aid to record high in 2005

Rich countries' spending on official aid to the world's poor leapt to a record high in 2005 due to large debt relief packages for Iraq and Nigeria, the OECD said on Tuesday.