America's LargestPosts Tagged Niger Delta
Nigeria Extends Amnesty to MEND Rebel Leader Amid Increasing Violence
Nigeria is Africa’s biggest oil producer and the world’s eighth-largest, but a years-long struggle between rebels in the Niger Delta and the Nigerian government has seriously hampered oil production. As reported earlier this month on The HEAT Zone, the Movement for the Emancipation of the Niger Delta, better known as MEND, has launched repeated attacks [...]
Read More »Oil Prices Up on Nigeria Attack and Stock Rally
The price of crude rose 3.3 percent today to close at $71.49 a barrel and the price of heating oil gained 2.9 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail price per gallon): UP $0.06
Crude and heating oil prices posted another big rally today, boosted by supply concerns stemming from a Nigerian rebel attack [...]
Oil Prices Up on New Attack in Nigeria
At 10:02 am EDT, the price of crude had gained 2.2 percent to reach $70.70 a barrel and the price of heating oil had risen by 2.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.04
Morning projection (for Tuesday’s average price per gallon): UP $0.03
Despite signals that both sides would abide [...]
Oil Prices Close Lower on Nigeria Cease-Fire, Falling Stock Market
The price of crude fell 1.6 percent to $69.14 a barrel and the price of heating oil lost 2.3 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
The recent flare-up of rebel attacks on oil infrastructure in Nigeria will likely come to a close, as a 60-day cease-fire [...]
Oil Prices Rise on Latest Rebel Attack in Nigeria
At 9:46 am EDT, the price for a barrel of crude had risen by 1 percent to $69.34 and the price of heating oil had gained 2.1 percent.
HEAT USA Price Report
Today’s retail heating oil price per gallon: DOWN $0.03
Morning projection (for Friday’s average price per gallon): UP $0.04
Nigerian rebels shut down a main Shell pipeline [...]
Oil Prices End Higher on Weak Dollar, Nigeria Violence
The price of crude rose by 2.6 percent to close at $69.24 a barrel and the price of heating oil gained 2.4 percent.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price per gallon): UP $0.04
Oil prices ended the day moderately higher than their opening positions as the US dollar weakened and continuing [...]
Oil Prices Drop on Falling Stock Markets, Stronger Dollar
At 8:43 am EDT, the price of crude had fallen by 2.3 percent to $67.96 a barrel and the price of heating oil had lost 1.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.04
Morning projection (for Tuesday’s average retail price per gallon): DOWN $0.03
Falling stock markets in the US and [...]
Oil Prices Rise on Nigerian Violence, Return of Economic Optimism
At 9:45 am EDT, the price of crude had gained 0.8 percent to reach $71.95 a barrel and the price of heating oil had risen by 0.8 percent as well.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Monday’s average price per gallon): UP $0.03
The MEND rebels of the [...]
Nigerian Unrest Cuts into Oil Production for Fifth Consecutive Month, Shell Reports
It’s a story all too familiar: a developing nation has a plethora of natural resources; however, a confusing and violent political quagmire prevents this country from being able to gain wealth from the gifts it has been handed.
In the past, these situations were nothing more than stories on the back pages of newspapers. But in [...]
Oil Prices Up on Nigeria Unrest, Stock Gains; Crude Closes at 6-Month High
The price for a barrel of crude rose 1 percent today to close at $59.65, the highest closing price since November 10, 2008. The price of heating oil gained 0.7 percent today.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail price per gallon): UP $0.01
Supply Concerns Help Push Crude to New High Price for 2009
At 9:46 am EDT, the price of crude had risen 0.4 percent to $59.25 a barrel and the price of heating oil had fallen a fraction of a percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.04
Morning projection (for Wednesday’s price per gallon): UP $0.01
Oil Prices Way Up on Nigeria Violence, Refinery Explosion
The price of crude rose 4.8 percent to close at $59.03 a barrel and the price of heating oil gained 4 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail price per gallon): UP $0.04
Oil Prices Fall on IEA Demand Forecast Cut
As of 9:58 am EDT this morning, the price of crude had fallen 1.2 percent to $57.34 a barrel and the price of heating oil had lost 0.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Friday’s average retail price per gallon): DOWN $0.01
Shell: Oil Theft in Nigeria Costs Company $1.6 billion a Year
According to Royal Dutch Shell, smuggling and theft of oil in Nigeria account for $1.6 billion of the companies losses every year. Nigeria, the world’s seventh-largest producer of crude oil and biggest producer on the African continent, is fraught with oil thefts and attacks on oil infrastructure perpetrated by rebel groups and bands of outlaws.
Shell’s [...]
Oil Prices Rise as OPEC Hints at More Cuts, Stimulus Deal Approaches
From CNBC.com: “‘If we think we still need more action, I’m sure the conference will take more action to stabilize the market,’ the secretary-general of the Organization of Petroleum Exporting Countries, Abdullah al-Badri, told reporters in London.” This new statement gave the oil markets new reason to expect OPEC production cuts in March, helping to [...]
Read More »Nigerian Court: Shell Must Return Land to People
Shell’s Bonny Island facility on the Nigerian coast Photo: AFP
The Associated Foreign Press reported today that the Royal Dutch Shell Company has been ordered by a Nigerian court to give up the land on which its Bonny Island refining terminal sits. Shell’s Bonny facility is said to be the largest in Africa–the compound includes a [...]
