Nigeria&#39;s oil rebels fuel fears of global shortage
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A revolt in the African state is threatening to disrupt the country&#39;s most important export. Christian Allen Purefoy reports from Lagos on the latest conflict driving up the price of crude.
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PORT HARCOURT, Nigeria  - Lolo Oluchi has painted over the bullet holes in the ceiling of her karaoke bar in this Nigerian oil city, where gunmen seized seven foreign oil workers last August, but the regulars haven't come back.
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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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The threat of violence in petroleum-rich Nigeria this week, followed by a spike in oil prices, underscored yet again that country&#39;s importance and danger to companies that work there.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting in Nigeria's  oil-producing delta region, where a two-day truce between rebel  militia and government forces was holding.
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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 Andrew MItchell LONDON  - Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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Oil futures were little changed after touching a record $50.47 a barrel on concern Nigerian rebels will follow through on threats to cut shipments from the fifth-largest supplier to the US.
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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 a barrel.
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ENVIRONMENTAL activists claim the latest outbreak of violence in Nigeria is simply the beginning of a civil war that could force Shell into a huge shake-up of its activities in the oil-rich country.
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Oil should continue to flow from Nigeria, the world&#39;s seventh largest exporter, despite a rebel threat to attack foreign oil workers in an &quot;all-out war&quot; due to start on Friday, multinational energy companies said.
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Nigeria is working to soon restore losses in oil production because of militant attacks on some pipelines, the country's finance minister said Tuesday.
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There are some signs of progress in resolving the Nigerian conflict that is riling global oil markets. The leader of militia fighters threatening to widen a battle for control of Nigeria&#39;s oil-rich south has
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Nigerian rebels fighting government  troops in the southern Port Harcourt area are poised to launch  an uprising across the entire oil-producing delta region to  force political reforms or gain sovereignty, a rebel leader  said on Sunday.
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LONDON, England -- Oil prices have surged to historic levels as a threat of civil war in Nigeria adds to concerns over tight global supplies.
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Insurgents in Nigeria's southern Niger Delta will begin an armed struggle to wrest control of the region's oil riches from the federal government starting Oct. 1, a rebel spokesman said Tuesday.
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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.