Nigeria Won’t Cut Spending Yet With Oil Above Budget Peg

Nigeria, Africa’s biggest oil producer, won’t cut spending while crude prices remain above the benchmark used for this year’s budget, Trade and Investment Minister Olusegun Aganga said.

Shell and Nigeria have failed on oil pollution clean-up, Amnesty says

Little action has been taken to clean up pollution caused by oil production in Nigeria’s Niger Delta region, either by the government or Shell Oil, Amnesty International and other groups charged Monday.

Angola Upgrades Port as It Aims to Be Africa’s Busiest Hub

Angola’s main port installed new cranes and provided more training to reduce its cargo unloading time by 80 percent as the government reviews a plan to build Africa’s biggest shipping terminal.

Nigerian oil firm Seplat valued at £1.14bn in London IPO

Nigerian oil firm Seplat, the first ever company to be listed in both London and Lagos, was yesterday valued at over £1bn in its stock market debut.

BP Buys Forties at 10-Day Low; Glencore Sells Russia Urals Crude

BP Plc bought North Sea Forties crude at the lowest price in 10 days. Glencore Xstrata Plc sold Russian Urals blend at a bigger discount to Dated Brent.

Nigeria's June oil exports to fall to lowest since August 2009

LONDON (Reuters) - Nigeria looks set for its lowest crude oil exports in nearly four years in June, shipping lists showed on Tuesday, highlighting how badly theft from pipelines is affecting Africa's largest economy.