Shell Shuts Some Nigerian Oil Output as Tension Rises
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Royal Dutch/Shell Group&#39;s Nigerian venture, which pumps almost half the oil in Africa&#39;s biggest oil producer, closed an oil-pumping station and reduced the movement of staff after rebels threatened to attack oil installations.
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Crude oil output from the Forcados export terminal in southern Nigeria is back up to "between 150,000 and 200,000 barrels per day" after a pipeline repair, Royal Dutch Shell said Tuesday.
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Oil prices slid from record highs above  $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire.
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Royal Dutch/Shell has shut in another 30,000 barrels per day of oil output in Nigeria due to a protest by villagers over jobs, bringing its total cut to 100,000 bpd, a spokesman said on Tuesday.
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Multinational oil giant, Royal Dutch/Shell has disclosed that its out put remains unchanged despite its evacuation of non-essential staff from two oil production plants in its eastern operations area in the Niger- Delta where Nigerian troops are engaged
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Oil prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Nigerian unions on Thursday called off a  general strike which had jeopardized oil supplies from the  world's seventh largest exporter for four days, but threatened  more action within weeks unless the government cut fuel prices.
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Oil prices rose to near $63 a barrel on Friday, after BP Plc shut in output at an oil field in Alaska and OPEC members Nigeria and Venezuela pledged to cut production.
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Oil prices pierced the $50-a-barrel  mark again on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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Crude oil in New York rose for a fifth session as a gas leak closed two North Sea oil platforms, causing the shutdown of 205,000 barrels a day of production.
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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NEW YORK - Oil prices reached a new high yesterday before retreating to close below Thursday&#39;s record level, after the Iraqi insurgency increased its pressure on the country&#39;s oil infrastructure and traders feared that growing unrest might interrupt crude ...
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Multinational oil companies began talks with hundreds of Nigerian villagers occupying three oil platforms on Monday in a dispute over jobs which shut 90,000 barrels per day of oil production.
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Business & money: Nigerian strike and Iran worries add to pressure as cost of crude oil rises to its highest level this year.
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Multinational oil giant Royal Dutch/Shell  has evacuated non-essential staff from two oilfields in Nigeria  where troops are fighting a major offensive against rebel  militia, a spokesman said.
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A disruption to loadings from  Shell's vast Nigeria Bonny Light oilfield and an attack on an  Agip pumping station cut deeper into exports from Africa's  biggest producer and sent prices higher still on Wednesday.
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LAGOS, Nigeria - With world oil prices surging to new highs, union leaders in Nigeria imposed a four-day strike yesterday across this volatile West African nation to protest the rising cost of fuel at home, shutting down huge swathes of the commercial