Nigeria Oil Union Strike Continues to Thursday

NEW YORK, April 30, 2008 (Dow Jones Newswires)

Leaders for Nigeria's oil union said they had failed to reach a deal with Exxon Mobil Corp. (XOM) on Wednesday and would not be returning to work, Reuters news agency reported.

Talks to end the weeklong strike, which has shut down all of ExxonMobil's crude output in Nigeria, would resume on Thursday, Reuters cited unidentified union leaders as saying.

Earlier, the state-owned Nigerian National Petroleum Corp. said ExxonMobil workers in Nigeria are returning to work after a walkout over issues such as pay.

The dispute has knocked out about 800,00 barrels a day, or about a third, of Nigeria's oil output, sending crude-oil futures prices to record highs near $120 a barrel.

NEW YORK, April 30, 2008 (Dow Jones Newswires)