Angola eyes $50bn oil investments
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Angola says it expects to see investors pour $50bn into its oil industry over the next six years.
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An African-based investment analyst says further rises in global oil prices are likely, given the growing possibility of civil war in the world&#39;s sixth-largest oil producer, Nigeria.
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A trio of oil companies led by Chevron Corp. has tapped a petroleum pool deep beneath the Gulf of Mexico that could boost America's reserves by more than 50 percent.
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NORTH Sea Brent crude surged through $50-a-barrel for the first time yesterday, as a four-day general strike began in oil-rich Nigeria and the market fretted about out-of-action capacity in the Gulf of Mexico.
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Oil prices hit a new record of 50.47 US dollars a barrel on Tuesday as rebels in Nigeria threatened oil output and hurricane Ivan slashed production in the Gulf of Mexico, despite Saudi Arabian pledge to increase output.
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Oil prices raced to new record highs above $50 on Tuesday, despite a pledge by OPEC producer Saudi Arabia to increase production, as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies
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Oil prices fall on news of Nigerian peace talks but analysts expect the price to remain close to the $50 mark.
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Angola extradited to Nigeria a man accused of leading a militant group that attacked foreign workers and installations in Africa's largest oil nation, an official said Friday.
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Oil prices surged to new record highs on Monday near $50 for US crude as Nigeria emerged as the latest focus for worries about supply security on world energy markets.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Possibile interesse per la canadese Western Oil Sands
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PARIS, Jul 13 (IPS) - While oil profits have flooded into countries such  as Angola and Nigeria in recent decades, some African observers  see new potential for the continent in the form of increasingly  in-demand biofuels.
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High-flying oil climbed back over $50 a  barrel on Thursday, with worries over the security of Nigerian  supply supporting prices despite a surprise build in U.S. crude  inventories.
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Ecuador has started to examine its oil agreements to determine if private companies have breached their contracts with the nation, South Americaâs fifth-largest oil producer, the energy minister said. âA committee will look into all contracts. It will review all we need to review and we are seeking transparency,â the oil minister, Alberto Acosta, said. The nine-member committee of energy officials and specialists is examining exploration and development contracts, which are mostly in the hands of foreign oil companies like Petrobras of Brazil and Repsol-YPF of Spain.
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The IMF predicts strong oil-fuelled growth for Angola, but remains concerned over financial transparency.
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The Zimbabwean state could take 50% stakes in mining firms, President Robert Mugabe has reportedly said. The government is considering the move, reports claim, in an effort to crack down on what it says is the illegal use of foreign currency from exports.
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The president of the Organization of Petroleum Exporting Countries, Purnomo Yusgiantoro, said global political uncertainties and concerns likely account for US$10 to $15 per barrel, or up to one third, of current world oil prices.