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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Oil prices eased on Monday after  rebels in Nigeria withdrew a threat to target oil operations,  but lingering concerns over stretched supplies ahead of winter  kept prices close to $50.
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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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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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Oil prices eased on Monday after rebels in Nigeria withdrew a threat to target oil operations, but lingering concerns over stretched supplies ahead of winter kept prices close to &#36;50.
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London crude prices hit record highs on  Monday as Nigeria emerged as the new focus of worries about  supply security on world oil markets.
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By Rosie Murray-West, City Correspondent (Filed: 01/11/2004). Nigeria&#39;s union leaders yesterday declared embattled oil business Shell to be an &quot;enemy of the Nigerian people&quot; and called for protests against the company.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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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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The Anglo-Dutch oil giant, Shell, withdraws hundreds of workers from oil facilities in Nigeria's troubled Niger Delta.
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Oil prices remained just below record  highs 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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Nigerian unions have clashed in court with the oil giant Shell as the labour movement flexed its muscles ahead of a nationwide general strike.
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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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Nigerian villagers have ended their three-day occupation of three oil installations in the Niger Delta. Anglo-Dutch energy giant Shell said the protestors on its two plants had departed to nearby village Freetown, on Tuesday.
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Nigerian unions 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 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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Oil-rich Nigeria has hiked the pump price of petrol by 15 percent, raising fears of a dispute between unions and the government.