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Posts tagged “Africa”

By Robert Rapier on Jul 22, 2009 with no responses

China Tightens Grip on Africa’s Energy Resources with Stake in Offshore Field

Today a topical post the latest from Money Morning, which as I previously explained will be featured here whenever they have relevant material to offer. As always, normal caveats apply: I am not an investment advisor. I don’t endorse any specific stocks mentioned in the following story nor the ad at the end of the story. ————————–China Tightens Grip on Africa’s Energy Resources with Stake in Offshore Field By Jason Simpkins Managing EditorMoney Morning CNOOC Ltd. (NYSE ADR: CEO) and Sinopec Corp. (NYSE ADR: SHI) have agreed to buy a 20% stake in an oil field off the shore of Angola for $1.3 billion, illustrating China’s persistent attempts to acquire resources for its economic expansion at a time of weakness… Continue»

By Robert Rapier on Jan 31, 2008 with no responses

Future Reserves

Just going through some files on my hard drive, and I ran across the following story. Unfortunately, I don’t have the source. But it’s an interesting look at where projected future oil reserves are expected to come from. It also reinforces the difficulty that the international oil companies are going to have replacing their reserves – as most of the remaining reserves are in the hands of national oil companies. Who Will Supply the World? Africa The continent has about 10 per cent of proven global oil reserves and 8 per cent of the world’s gas. The biggest oil producers are Nigeria, Algeria, Libya and Angola, which account for roughly three- quarters of Africa’s oil production. West Africa has become… Continue»