-- OWA: Nigeria needs to support local businesses Nigeria should financially support indigenous companies in the oil industry to ensure that Nigerians can participate in its development, a senior academic has suggested at the Offshore West Africa Conference.
-- MARKET WATCH: US payrolls, energy prices fall Energy prices fell sharply Feb. 1, down for a second consecutive session on the New York market, after a weaker-than-expected US payroll report added to indications of a pending recession.
-- MARKET WATCH: Crude rebounds above $90/bbl in New York The front-month crude contract rebounded above$90/bbl Feb. 4 in the New York futures market as reports of battles in Nigeria and Iraq reminded traders of the vulnerability of oil supplies from those regions.
-- MARKET WATCH: Large inventories push prices lower Oil prices continued to fall Feb. 6 after the US EIA reported the largest 1-week gain in commercial US inventories since March 2004 as refiners slowed operations in the face of weak margins and oil imports climbed.
-- Iraq, Kurdistan continue row over oil contracts Disagreement over the development of Iraq's oil and gas persists between the country's central government in Baghdad and the Kurdish Regional Government (KRG), as both sides continue to insist on their respective rights.