Asian stocks markets were thrown into a tailspin today as flustered investors fearing a possible global recession continued to flee stocks.

Oil giant Royal Dutch Shell is set to sell oilfields worth up to $5bn (€3.5bn) in Nigeria as part of a shake up of operations in the country, it was reported today.

Rebels stormed a Chinese-run oil field at dawn in eastern Ethiopia today, killing 74 workers and destroying the facility, the guerrilla group and government officials said.

IF, as Shakespeare once almost remarked, you have any SSIAs to shed, prepare to spend them now.

IF, as Shakespeare once almost remarked, you have any SSIAs to shed, prepare to spend them now.

Oil giant BP was silent today on reports that it is courting Chinese leaders over a ground-breaking deal that would mirror its lucrative joint venture in Russia.

Saudi security forces have stormed an expat housing complex where suspected Islamic militants are holed up with a reported 50 hostages after attacking oil company offices.

British firms led by oil giant BP gained a stronger foothold in China today by clinching deals worth more than $1.5bn (€1.2bn).

Oil giant Shell surprised markets today by reporting a 9% hike in profits as it began the battle to restore its battered reputation.

Oil giant Shell today boosted its balance sheet with the sale of its stake in China’s largest refiner for $742m (€608m).

Oil giant BP PLC said it will sell its remaining 2.1% stake in China Petroleum and Chemical Corp (Sinopec).

Share prices closed the morning lower tracking the overnight falls on Wall Street amid caution in the lead up to the first anniversary of the Sept 11 terrorist attacks next week, dealers said.

Shares prices closed lower in cautious trade, with Wall Street's overnight performance seen as a mere short-term rebound rather than indicating a genuine improvement in sentiment, dealers said.