What have we learned this year? That $50 oil is a thing of the past. These stocks will thrive as crude prices stay high. By Jim Jubak The first two months of 2006 should end any dreams that oil will drop below $50 anytime soon. They make a good case that the new price range [...]
Posts on ‘February 23rd, 2006’
Vanguard (Nigeria): Hostages may be freed tomorrow: Federal Government, Shell lose $27.3m per day
By Funmi Komolafe, Omoh Gabriel, Kingsley Omonobi & Victor Ahiuma-Young Posted to the Web: Thursday, February 23, 2006 ABUJA— THERE were strong indications in Abuja yesterday that the nine foreign oil workers kidnapped by Ijaw militants may be released in the next 24 hours following Federal Government’s agreement not to carry out any military attack [...]
THE NEW YORK TIMES: Nigeria Militants Won''t Release Hostages
By THE ASSOCIATED PRESS WARRI, Nigeria (AP) — Militants holding nine foreign hostages said Wednesday they have no plans to release their captives soon and accused Nigeria's government of wasting time in securing their freedom. The oil workers, who include three Americans, two Egyptians, two Thais, one Briton and one Filipino, were seized Saturday by [...]
THE NEW YORK TIMES: NYMEX Oil Ends Nearly $2 Down on Stock Build View
By REUTERS Published: February 22, 2006 Filed at 3:23 p.m. ET NEW YORK (Reuters) – U.S. crude oil futures ended sharply lower for the first time in four sessions on Wednesday as analysts predicted a further increase in already ample petroleum stockpiles in the United States. Crude for April delivery (CLJ6), the new front-month contract, [...]
AFX Europe (Focus): Oil prices drop further in Asian trade
Feb 23, 2006 SINGAPORE (AFX) – Oil prices continued lower in Asian trading hours, as expectations of a buildup in US crude and gasoline stockpiles offset concerns about supply disruptions in Nigeria, dealers said. At 11.00 am (0300 GMT) here, New York's main contract, light sweet crude for delivery in April, was down 0.26 usd [...]
Lloyds List: Nigerian troubles worrying brokers
Martyn Wingrove Feb 23, 2006 Tankers NIGERIAN oil export problems could knock back otherwise strong tanker markets if lower output continues in the medium term. Royal Dutch Shell has shut in 455,000 barrels of oil per day of production and exports after militant attacks damaged tanker loading facilities. The Anglo-Dutch oil major also extended force [...]
AP Worldstream: Oil prices dip on expectations of higher U.S. stocks, but Nigeria, Iran concerns linger
Feb 23, 2006 Crude oil prices slipped Thursday as expectations of higher U.S. oil inventories calmed a market that has been rattled recently by supply disruptions in Nigeria and Iran's nuclear program. Light sweet crude for April delivery fell 27 cents to US$60.74 a barrel in electronic trading on the New York Mercantile Exchange. The [...]
Irish Independent: Shell fights 5m action over leak
Feb 23, 2006 Ann O'Loughlin MEATH County Council has brought a 5m action for damages against Irish Shell Ltd. The case arises from the leakage of petrol and diesel hydrocarbons from a Shell filling station to the adjoining site of the council's new civic offices at Trim. The council wants up to 5m damages, plus [...]
Financial Times: China winning resources and loyalties of Africa
By FT correspondents Some see it as a late-blossoming relationship, others as a new kind of colonialism. Either way, China is resolutely and rapidly extending its presence and influence across the African continent as its companies move into terrain where western businesses hesitate to tread. The Chinese advance – government-backed, led by state-run corporations and [...]
THE WALL STREET JOURNAL: How Foreign Banks Scaled the Chinese Wall
Titans Acquire Minority Stakes With Little Control of Their Own; Will the Strategy Prove Wise? By KATE LINEBAUGH February 23, 2006 The world's banking titans, including Bank of America Corp., Royal Bank of Scotland PLC and Merrill Lynch & Co., have spent billions of dollars buying small stakes in China's biggest lenders. So far, they [...]
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