Kidnap Drama Hits World Oil Markets
Business Day (Johannesburg) By Ayanda Shezi With Sapa-AFP Johannesburg
THE hostage drama in Nigeria, which saw nine foreign oil workers kidnapped on Friday and a Shell oil platform set alight, could have severe repercussions not only for SA's inflation outlook, but for oil prices globally if it is not resolved soon, analysts said yesterday.
Nigeria, Africa's largest oil exporter and the Organisation of Petroleum Exporting Countries' fourth-largest producer, has been rocked by unrest in its oil industry, with open rebellion against the government by Nigerian militants. |
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Last Updated ( Tuesday, 21 February 2006 )
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UN Integrated Regional Information Networks Kinshasa President Joseph Kabila has promulgated the Democratic Republic of Congo's new constitution and new flag, a move that paves the way for the beginning of the country's electoral process, expected to end with presidential elections midyear.
"From this instant, nothing else can delay the elections," Kabila said on Saturday in the capital, Kinshasa, when he signed the constitution into law. The promulgation of the new constitution follows a referendum on 18 December 2005, during which 85 percent of voters favoured the after draft constitution. |
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Last Updated ( Tuesday, 21 February 2006 )
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Cameroon's Samuel Eto'o was named African Footballer of the Year for the third year running on Thursday edging Ivory Coast's Didier Drogba by two points. Eto'o became the only player to take the award three times in a row. |
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Last Updated ( Tuesday, 21 February 2006 )
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