Archive for the ‘Oil’ Category

Few petrol stations in Angola

February 25, 2012

For a country that pumps around 1.7 million barrels of oil a day and is twice the size of Texas or 5 times the size of Britain you would expect that finding petrol would not be a problem. Sadly you would be wrong as the country only has 534 petrol stations. So when traveling out of town always make sure you fill up when you can. Source – O Pais.

 

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FACTBOX-Key political risks to watch in Angola

February 3, 2012

By Shrikesh Laxmidas

LISBON Jan 10 (Reuters) – Long-serving Angolan President Jose Eduardo dos Santos is expected to confirm later this month that he will lead his MPLA party in a general election in the third quarter of the year.

This is unlikely to dispel intense speculation over a possible future successor to the 69-year-old leader, who is the second longest-serving ruler in Africa after Equatorial Guinea’s President Teodoro Obiang Nguema Mbasogo.

With Dos Santos apparently ready to go ahead with a re-election bid, the focus is on the MPLA’s choice for No. 2 on its candidate list for the election to be announced this month. This may signal the choice of a successor.

Anti-government protests last year showed that Angolan youths, inspired by uprisings in North Africa that toppled several leaders, are ready to take their grievances about human rights, social conditions and high unemployment to the streets.

But Angolan authorities have demonstrated they are willing to respond with force.

On the economic front, technical problems in oil production have led the government to slash its growth estimate for 2011, highlighting the need to diversify the economy.

 More………………

 

Angola – Assesssing Risks to Stability

December 20, 2011

 

A CSIS Report  by  Alex Vines and Markus Weimer, July 2011

Download paper here
  • Angola’s commodity-based economy is tied to global oil and diamond prices, and is thus highly susceptible to exogenous shocks. The ability of the government to diversify the economy and open the business environment to attract investment in other sectors, such as agriculture, will be vital to ensuring long-term stability.
  • Urban poverty is a source of social strife. The ruling People’s Movement for the Liberation of Angola (MPLA) will need to improve service delivery and quicken the pace of social reform to stave off potential unrest.
  • If mismanaged, the task of choosing a successor to President José Eduardo dos Santos could spark a destabilizing power struggle within the MPLA.

This is a Center for Strategic and International Studies (CSIS) report

FACTBOX-Key political risks to watch in Angola

November 10, 2011

By Shrikesh Laxmidas

LISBON Nov 8 (Reuters) – The ruling MPLA’s December Central Committee meeting will be closely watched after media reports suggested long-serving President Jose Eduardo dos Santos had chosen a successor and may step down before or one year after a 2012 general election.

The weekly Novo Jornal said in September dos Santos had selected Manuel Vicente, head of state oil company Sonangol, as his successor, but a party spokesman said no decisions had been taken and the party would appoint its candidate in December.

Meanwhile, several anti-government protests organised this year show Angolan youths are ready to air their grievances about human rights, social conditions and high unemployment but also that the authorities are willing to respond with force.

On the economic front, technical problems in oil production have led the government to slash its growth forecast for this year, highlighting the need to diversify the economy. More…….

Fancy trying out the $70 pizza — in the world’s most expensive city?

July 30, 2011

By Andrew Nolan

Saturday July 30 2011

If your boss told you tomorrow that you had been relocated to the most  expensive city in the world where would you think of? Tokyo? In 2009 you would have been right. Moscow? You would have to go back to 2008. London or New York?  Wrong again. The destination on your plane ticket would be Luanda.

It’s official: the Angolan city has the 2011 top spot according to Mercer, a US financial consultancy company which compiles an annual report comparing  prices in the world’s capitals.

So how expensive is it?………

The Rise and Rise of Angola

July 10, 2011

Extraordinary economic growth is feeding into increasing political power with potentially significant implications for African geopolitics. More……

Everyman’s Guide to Angola’s Petroleum Geology and Oil Industry

May 4, 2011

Few places in the world measure up to the recent oil exploration significance of Angola, according to oil experts. This country is the second biggest oil producer in Africa after Nigeria.  What is it about Angola’s geology that favors so much oil production and what is the long term future of the oil industry here? The Angola Field Group invites you to a presentation: Everyman’s Guide to Angola’s Petroleum Geology and Oil Industry  at the Viking Club, Thursday May 05, at 8:00 PM with Geologist Tako Koning who will explain in layperson’s terms the subsurface geology that has led to the success of the country’s oil industry and what it means for the future. Tako, a Holland-born and Canada-raised geologist has 40 years experience in the oil industry, including 15 years in Angola. He worked with Texaco for 30 years in Canada, Indonesia, Nigeria and Angola; he retired in 2002 and continues to work in Angola as an oil consultant. More info on the Angola Field Group page.

Did cows really fall from the sky over Angola?

April 24, 2011

The New York Times published this bizarre correction at the end of this article

Correction: February 6, 2011

An article on Jan. 16 about drilling for oil off the coast of Angola erroneously reported a story about cows falling from planes, as an example of risks in any engineering endeavor.No cows, smuggled or otherwise, ever fell from a plane into a Japanese fishing rig. The story is an urban legend, and versions of it have been reported in Scotland, Germany, Russia and other locations.

Reuters: FACTBOX-Key political risks to watch in Angola

April 2, 2011

LUANDA, April 1 (Reuters) – Tension between the ruling MPLA party and the main opposition UNITA party and questions over policy-making are worrying investors in the major African oil-producing nation of Angola.

The MPLA, which emerged victorious from a 27-year civil war against UNITA in 2002, has been accused of corruption and of not doing enough to tackle widespread poverty.

Other concerns include uncertainty about a successor to President Jose Eduardo dos Santos and heavy dependence on oil revenue, although the spike in crude prices to above $100 a barrel is likely to alleviate government funding pressure. More…….

FACTBOX-Key political risks to watch in Angola

March 13, 2011

Reuters 1 March 2011

LUANDA, March 1 (Reuters) – Tension between the ruling MPLA party and the main opposition UNITA party and questions over policy-making are worrying investors in the major African oil-producing nation of Angola.

The MPLA, which emerged victorious from a 27-year civil war against UNITA in 2002, has been accused of corruption and of not doing enough to tackle widespread poverty.

Other concerns include uncertainty about a successor to President Jose Eduardo dos Santos and heavy dependence on oil revenue, although the spike in crude prices to above $100 a barrel is likely to alleviate government funding pressure. More……

FACTBOX-Key political risks to watch in Angola

September 2, 2010

 By Henrique Almeida LUANDA, Sept 1 | Wed Sep 1, 2010 8:46am EDT

(Reuters) – Angola’s ruling MPLA party emerged victorious from a 27-year civil war in 2002 promising a better life for Angolans but this dream is fading as corruption is rife and the government is seen failing to help the poor.

Despite their nation’s vast oil resources, millions of Angolans live in poverty with an estimated two-thirds of people in the country living on less than $2 a day.

Other problems include uncertainty around a possible successor to President Jose Eduardo dos Santos, liquidity problems in the banking sector and heavy dependence on oil.

Many of the issues feed demands for more government transparency and accountability as Angola tries to regain investor confidence after the global financial crisis. More……….

Angola : Ingleses procuram oportunidades

August 30, 2010

Angola é o próximo alvo da Commonwealth. A organização britânica integra um conjunto de países, na sua maioria ex-colónias (excepto Moçambique e Ruanda), que interagem através de parcerias. A estabilidade política e social dos últimos anos despertou o interesse dos empresários da comunidade, que se mostram disponíveis para investir na diversificação económica e para aliviar a dependência do sector petrolífero. Mais………

Angola and DR Congo: Gas troubles flare

August 21, 2010

A delegation from US oil giant Chevron visited Kinshasa several weeks ago to discuss the building of a natural gas pipeline from its Block 0 off the Cabinda coast (see map) to Soyo in northern Angola. Initially the pipeline was supposed to go through the water, but it turned out to be too expensive, so the pipeline will have to cross Congolese territory around the mouth of the Congo river. According to some people close to the meeting, the Congolese government demanded a huge sum of money, a sum so large that Chevron had to walk away and the Angolan government, who is helping develop the $4 billion plant in Soyo, was reportedly furious. The Angolans reportedly said something like: “After everything we have done for the Congo, this is how you thank us?” More….

Angolan rebels in oil enclave seek talks

July 17, 2010

LUANDA, Angola, July 16 (UPI) — Separatist rebels in Angola’s oil-rich Cabinda enclave on Africa’s west coast are reportedly seeking peace talks with the Luanda regime, a move that could open vast offshore fields in the Atlantic.

Ending the 35-year conflict in Cabinda, cut off from the rest of the former Portuguese colony by a sliver of the Democratic Republic of Congo, would do much to consolidate Angola’s position as one of Africa’s leading oil producers. More……

Angola shifts away from oil

June 20, 2010

As oil-rich Angola seeks to raise at least $2 billion from Western investors with its first international sovereign bond, the key question for investors is the extent to which the country can diversify its economy away from its dependence on crude.

For some underdeveloped economies, oil can be a curse rather than a blessing, as a lack of alternative economic opportunities often fuels discontent over the allocation of oil wealth.

In Angola, oil provides 90% of the country’s export revenue but employs less than 1% of the population. About 63% of the population still depends on agriculture for a livelihood, mostly subsistence farming. A 27-year civil war, which ended in 2002, devastated its agriculture industry, cutting access to seed and fertilizer and severing export routes to sell its products. Once the world’s fourth-biggest coffee exporter and self-sufficient in most crops, the country now is a net importer of food. More…………..

‘We went from a war to oil and diamonds’

June 20, 2010

LUANDA. Through the window of Mohammed Tajideen’s run-down office building on Luanda’s main avenue along the bay called the Marginal, the profiles of dozens of ships can be made out on the horizon.

They have been waiting for weeks, in some cases months, to deliver their cargo to the overburdened port.

“On average, everything here costs about 300 per cent more,” says Mr Tajideen, the president of the import and export conglomerate Golfrate Holdings. More……….