Africa: Where the Next US Oil Wars Will Be
by Bruce Dixon
www.dissidentvoice.org
March 1, 2007
First Published in Black Agenda Report

On February 7, George Bush announced the formation of AFRICOM, a new Pentagon command which will, under the pretext of the so-called "Global War On Terror", plan and execute its oil and resource wars on the African continent. What does this mean to African Americans? And to Africans?

The Pentagon does not admit that a ring of permanent US military bases is operating or under construction throughout Africa. But nobody doubts the American military buildup on the African continent is well underway. From oil rich northern Angola up to Nigeria, from the Gulf of Guinea to Morocco and Algeria, from the Horn of Africa down to Kenya and Uganda, and over the pipeline routes from Chad to Cameroon in the west, and from Sudan to the Red Sea in the east, US admirals and generals have been landing and taking off, meeting with local officials. They've conducted feasibility studies, concluded secret agreements, and spent billions from their secret budgets.

Their new bases are not bases at all, according to US military officials. They are instead "forward staging depots", and "seaborne truck stops" for the equipment which American land forces need to operate on the African continent. They are "protected anchorages" and offshore "lily pads" from which they intend to fight the next round of oil and resource wars, and lock down Africa's oil and mineral wealth for decades to come.

Chicago's Prexy Nesbitt, one of the architects of the US anti-apartheid movement in the 1970s and ‘80s spoke about the importance to Africans and African Americans of George Bush's Feb. 7 announcement of AFRICOM, the new Pentagon command for the African continent.

It means a tremendous amount to Africans, because African people, from working people to university elites all follow very closely everything that the US government does wherever it does it in the world. ...More and more African Americans in the US are following carefully what's the US is doing in Africa, but not enough... What we're seeing (is) ... a US military penetration of the African continent and that this penetration is... motivated by the US quest... for new sources of oil and other minerals.

In other words, it's about the oil. And the diamonds, and the uranium, and the coltan. But mostly about the oil. West Africa alone sits atop 15% of the world's oil, and by 2015 is projected to supply a up to a quarter of US domestic consumption. Most oil from Saudi Arabia and the Middle East winds up in Europe, Japan, China or India. Increasingly it's African oil that keeps the US running.

A foretaste of American plans for African people and resources in the new century can be seen in Eastern Nigeria. US and multinational oil companies like Shell, BP, and Chevron, which once named a tanker after its board member Condoleezza Rice, have ruthlessly plundered the Niger delta for a generation. Where once there were poor but self-sufficient people with rich farmland and fisheries, there is now an unfolding ecological collapse of horrifying dimensions in which the land, air and water are increasingly unable to sustain human life, but the region's people have no place else to go.

Twenty percent of Nigerian children die before the age of 5, according to the World Bank. Hundreds of billions of dollars worth of oil have been extracted from the Niger Delta, according to Amnesty International in 2005.

[But its inhabitants] remain among the most deprived oil communities in the world -- 70 per cent live on less than US$1 a day. In spite of its windfall gains, as global oil prices have more than doubled in the last two years, the Nigerian government has failed to provide services, infrastructure or jobs in the region.

In a typical gesture of disregard for local black lives and livelihoods, the natural gas which sits atop many oil deposits but is more expensive to capture and process than petroleum is simply burned off or flared at African wellheads. Throughout the 1990s it is estimated that 29 million cubic feet per day of Nigerian natural gas was disposed of in this manner. Many of the flares, according to local Niger delta residents, have burned continuously for more than twenty years, creating a toxic climate of acid fogs and rains, depositing layers of soot and chemicals that stunt or kill ocean and riverine fish and livestock, and poison the few surviving crops. For this reason, flaring at oil wells has long been outlawed in the US. But many African communities near the mouth of one of the planet's largest rivers are now entirely dependent on water trucked in from outside.

According to Dr. Nesbitt:

Years ago people from the then American Committee on Africa brought back slide footage which showed... people living in oil mud slime fields, drinking water that's made up of oil slime. It was just [an] extraordinarily frightening situation... As far as we know not much has changed [in about 15 years] except that [now] there is a movement for justice taking place. But the United States military command has indicated, has partnered up really, with the Obasanjo government... to try to control that justice movement. Some very explicit comments have been made by US military people; they will be prepared militarily to move into that arena... securing that oil source for the United States.

Local Africans are demanding respect and a share in what is after all, their oil. They are now routinely, viciously suppressed in eastern Nigeria, in Equatorial Guinea and elsewhere, by African troops trained and equipped with American tax dollars. When resistance continues, as it certainly will, America is preparing to up the ante with more American equipment, with military and civilian advisers, with bombs, bullets and if need be, with American bodies. That's what AFRICOM is about, and what it will be doing in the new century.

Empire in Africa: A Business Opportunity For Black Americans?

Doug Lyons, an African American columnist at the Orlando Sun-Sentinel is one of those ugly black Americans who see, in the ratcheting up of merciless exploitation of humanity's motherland, great career and business opportunities for a few black henchmen and women.

AFRICOM shouldn't be shunned as another appendage of our nation's military industrial complex, even though it is. It also offers a unique opportunity for black America.

There's potential for those individuals who have interest in African and African-American heritages to become more knowledgeable about Africa, and its links to the United States.

That knowledge should lead to better cultural understanding and greater business opportunities for blacks on both sides of the Atlantic, in addition to expanded opportunities for African-Americans in world trade and the diplomatic corps . . . .

magine the possibilities. The vehicle is about to be put in place, and for a select few, the chance will come to make even more black history.

AFRICOM will indeed open new vistas for a handful of qualified black Americans in the corporate, military and intelligence establishments.

The imaginative need look no further than GoodWorks International, the business consulting firm founded by former Atlanta mayor, UN ambassador and colleague of Dr. Martin Luther King, Andrew Young. GoodWorks is making black history indeed, along with buckets of cash from clients like Barrick Gold, a Bush-connected operation whose Congolese mines help fuel a bloody civil war with 5 million dead and counting so far. Young's firm enjoys intimate and lucrative connections with the shadowy Maurice Templesman, a prominent figure in the trade of African blood diamonds for decades. It's the registered lobbyist for the Nigerian government in Washington, and implicated in at least one money laundering scheme for Nigeria's president Obasanjo, in addition to fronting for various multinational oil and mineral companies on the African continent.

There's an increasing number of... a class of African Americans who... feel no sense of responsibility, no shame, no ties to the continent, who are incapable of playing any kind of role. I think we see that with Condoleezza Rice. We see it even more clearly in some of the other appointments which have been recently made, like for example the new assistant secretary of state for Africa. She seems... an individual to be very concerned about given her past, and her military background, with regard to what type of role she will play in the system. So we see African Americans often emerging as functionaries of the system, the gendarmes, if you will, of the system for the recolonization of Africa both by corporate and military establishment in the United States.

Nesbitt seems to agree with Doug Lyons, in a twisted sort of way. AFRICOM will indeed open new vistas for a handful of qualified black Americans in the corporate, military and intelligence establishments. Andy and Condi were first, but they may not be the last. There are plenty more African gold mines, oil tankers and mass graves waiting to be named after black Americans.

We asked Dr. Nesbitt what the Congressional Black Caucus and ordinary Americans here ought to be doing to stall imminent US military intervention on the African continent.

We need a stronger voice from the Congressional Black Caucus. It needs to become much more enraged about these developments and help to politicize and educate the masses of the black American community across the country so that we don't let this constant history of the United States [allow them to feel] that they need not worry about any ramifications... from the population that is most concerned... those of us in the African diaspora in the US. I think we are at a very important passage point with regard to the relationships of the African American community in general with the continent of Africa.

Africa is a part of the world that has immense resources and immense riches. But . . . the history has been nothing but the capitalist system sucking Africa dry of those riches. I think that the particular challenge facing Americans -- Americans who care about other human beings, who care about the planet -- is what steps will they take to help African people stop this continual rape and plunder of the African continent.

George Bush, Big Oil, Andy Young and the Pentagon are already implementing their plan for Africa. It looks like Nigeria, the classic case of a rich country full of poor people. It looks a lot like the impoverished, poisoned, festering wasteland of the Niger delta, where they've had a free hand for decades. And when Africans resist, as they surely will, the backup plan is to declare Africans who want to control their own resources "terrorists", and through AFRICOM, deploy US military might to lock down Africans and African resources. It's time for black America and the Congressional Black Caucus to take Dr. Nesbitt's advice, and come up with a couple of our own plans to end more than five hundred years of Western pillage of Africa, and to keep AFRICOM and the US military off the African continent.

Bruce Dixon is Managing Editor of Black Agenda Report. He can be contacted at: Bruce.Dixon@BlackAgendaReport.com.

Other Articles by Bruce Dixon

China Names Nine Countries as `Suitable' for Oil Investment

By Winnie Zhu

March 1 (Bloomberg) -- China, the world's second-largest oil user after the U.S., has identified nine countries as suitable for investment by the nation's oil companies in a list that excludes Iran, Sudan and Nigeria.

Chinese oil companies should target Kuwait, Qatar, Oman, Morocco, Libya, Niger, Norway, Ecuador and Bolivia for investments, according to guidance published on the Web site of the National Development and Reform Commission, the country's top economic planner.

China National Petroleum Corp. and China Petrochemical Corp. are among companies scouring the globe for oil and gas resources to meet surging demand in the world's fastest-growing major economy. The country's oil demand may rise 6.1 percent to 7.56 million barrels a day this year, the International Energy Agency said in a Feb. 13 forecast.

``The catalog is intended to further encourage and guide domestic companies to invest abroad,'' the commission said, without giving any further explanation for countries selected.

China's top three oil companies pumped 29 percent more crude from overseas fields last year, the China Petroleum & Chemical Industry Association said on its Web site Feb. 16. China National Petroleum, China Petrochemical and China National Offshore Oil Corp. produced 35 million metric tons of oil from foreign fields in 2006, accounting for 18 percent of the total of 200 million tons, it said.

China International Trust & Investment Corp., a government investment company, said Oct. 26 it will pay $1.9 billion to buy the Kazakhstan oil assets of Canada's Nations Energy Co. The acquisition marked China's latest victory in a chase for oil with India after China National Petroleum bought PetroKazakhstan Inc. for $4.2 billion in 2005.

Cnooc Ltd., the overseas-listed unit of China National Offshore, last April completed acquiring a stake in Nigeria's offshore Akpo field for $2.7 billion, outbidding rivals including India's Oil & Natural Gas Corp.

To contact the reporter on this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net

Last Updated: March 1, 2007 02:07 EST

Aother article that mentions SEO

Guinea Insurance plans to raise N3bn
• Tuesday, Feb 27, 2007
Guinea Insurance Plc Plans to raise N3 billion by way of rights issue to its existing shareholders.

The company’s managing director, Nicholas Ojinnaka said the company hopes to raise the amount by offering 4.68 million shares of 50 kobo at 60 kobo per share to current shareholders.

He said,” The money is on ground, what is being done is to put legal effect to the transaction,” adding that the offer will open Wednesday February 21 and end February 23.

According to him, the rights issue is provisionally allotted in the basis of 13 new ordinary shares for every two held by shareholders whose names are in the company’s register as at Wednesday February 7.

It was reported that all insurance companies in the country have up till February 28 to raise their capital base to N2 billion and N3 billion for life and non-life insurance companies respectively.

Guinea Insurance Chairman, Emeka Offor said the rights issue was in line with the slogan “Guinea must stay” which was adopted at the company’s Last AGM as a way to remain in business.

“This offer is being undertaken as an important step towards meeting the minimum capital base as well as executing its strategy towards becoming a dominant player in the insurance industry post-consolidation” he said.

The Chairman said part of the proceeds of the offer would be used to acquire a new corporate head office and also invested strategically in the oil and gas sector.

According to him, “It is not how early or how far but we will end with real cash in place and meet our targets. Guinea Insurance is one of the oldest insurance companies and it will soon meet up with the required capital.

“We are not merging yet, we will make it on our own, so like a beautiful bride, we have to consider our suitors very carefully before any merger arrangements” he noted.

Nigeria: Chinese Investment in Nigeria - What Motives?

This Day (Lagos)

OPINION
February 27, 2007
Posted to the web February 28, 2007

Abimbola Akosile
Lagos

Here comes a 'giant'

China has 56 ethnic groups with an estimated total population of about 1.1 billion people, compared to Nigeria's contended 140 million citizens. Its major tribe is the Han, while the other 55 ethnic minority groups share about 100 million people spread throughout the country.


China's exports in 2006 rose 27.2 percent from the previous year to $969 billion, while imports were up 20 percent to $791.5 billion. The country's global trade surplus for 2005 was $102 billion. The United States trade gap with China was expected to pass 2005's record $202 billion. China's global surplus is smaller than that with the United States because it runs a deficit with other countries.

The country raised the yuan's value against the dollar by 2.1 percent in July 2005 and has let it gradually climb by about 3.8 percent since then in tightly controlled trading.

China also was a net auto exporter in 2006 for the second straight year, It also said exports doubled last year to 300,000 units, while imports rose 41 percent to 229,000 units.

Recently, Beijing hosted a summit for 48 African leaders, where top officials offered $5 billion in loans and credit to Africa along with a doubling of aid.

Trade between China and Africa reached $55.5 billion last year, up 40% from the previous year and a 10-fold increase from a decade ago, while accumulated direct Chinese investment in the continent reached $6.6 billion. China's rapid economic growth, reported to be 10.7% in 2006, has brought the nation to Africa's attractive resources. China began to open up its economy in the late 1970's when it moved from a centrally planned economy to a market-oriented economy; it decentralized trade, slashed tariffs, unified the dual exchange rates in 1994, and removed exchange controls on current transactions in 1996. These actions, together with other reforms, triggered the rapid expansion of China's investments in other countries, as well as foreign investment into China.

Many African countries welcome investments by the Chinese-who do not attach conditions such as guarantees of transparency or good governance to their projects. Some human rights activists say they worry that China's policies could prevent Africa from democratizing. They also say that increase trades with China-which often floods African market with cheap finished goods-is bankrupting local manufacturers. China denies accusations by critics, who say its investments are comparable to European colonialism.

Local Dumping Ground

There is a growing debate and uneasy calm within the Nigeria's business circle over the invasion of Nigerian market by Chinese investors. On the one hand, it is seen as a blessing as China is an emerging power in the global scheme of things, on the other hand it is seen as dangerous and an attempt to further cripple the dwindling Nigerian economy.

President Olusegun Obasanjo has described China's investment drive in Nigeria as part of the overall reform of the national economy, so as to give the nation a fresh economic breeze, as well as to benefit from China's experience as an emerging super power.

China, experts say, is set to occupy the enviable world leadership position commensurate with its dynamic and huge population and its material achievement in all spheres. China is not interested in competition for world domination and colonialism but friendship and economic partnership which it hopes will ultimately benefit its less privileged partners.

The Nigerian government has put a lot of effort in cultivating good friendship with China in a drive for economic reform and Foreign Direct Investment (FDI). Several Chinese companies in construction, telecommunications, oil and gas, pharmaceuticals, etc., have thus invested billions of Naira in Nigeria, as a result.

According to Louis Okoroma, a Public Affairs Analyst, an important feature about China's growing interest and relationship with Nigeria is that our country's business landscape is widening and becoming more competitive among nations.

In the same vein, other countries are also working hard to break the Nigerian market thus making Nigeria, an important destination for international investment and finance. But one complaint by Nigerian investors is that Nigeria is fast becoming a dumping ground while indigenous companies are dying.

Relevant Links

West Africa
Nigeria
Investment
Asia, Australia, and Africa



This criticism of China's economic present in Nigeria does not call for Nigeria's break up of its relations with the emerging power; all it calls for is common sense.

In Nigeria and other parts of Africa there is growing concern about many fake products coming from China and cases of dumping. Africa needs firm commitments from China to attack and stop this menace.

One also expects that in the long run the several hundred Chinese companies now operating in Africa will transfer their technical and managerial skills to African workers to enable them to take over the industries completely. This will ensure the credibility of China, strengthen cooperation, and enable China to move to greater heights and responsibilities.

Vice President Rejects Nigerian Senate Indictment on Oil Money Corruption
By Chinedu Offor
Washington
28 February 2007

A Senate panel has indicted embattled vice-president Atiku Abubakar, alleging "abuse of office and abetting the diversion of about $145 million of public funds." Analysts say the report, which comes after five months of investigation by the lawmakers, further dims Abubakar's hopes of running in April's presidential election.

Garba Shehu is the spokesman for the Atiku Abubakar Presidential Campaign Organization. Shehu says his boss is innocent of all charges.

“Clearly it is a blatantly partisan report because the panel had ignored the massive amount of corruption the president had done in that institution alone,” he says.

He says that most of the members of the panel are supporters of the failed effort to amend the Constitution to give President Olusegun Obasanjo a third term in office.

He says, “We raised this concern even from the beginning. Of the 13 members of this panel, 10 of them had actively promoted the president’s campaign for a third term in office. Don’t forget this is the major point of disagreement between the president and the vice president. The president wanted to continue in office for life. The vice president opposed it and still opposes it.”

Garba says Abubakar did the right thing by appearing before the panel despite his misgivings about its members. “It is unfortunate that all of the evidence we put at the disposal of this committee, they could not even read anything there and they never invited the president to make an input.,” he says.

Nigeria: Oil Reserves Up 35 Billion Barrels

Daily Trust (Abuja)

February 27, 2007
Posted to the web February 27, 2007

Mohammed Shosanya
Lagos

Energy minister, Edmund Daukoru says exploration has raised the country's oil reserves to about 35 billion barrels from five billion barrels in 1999.

Daukoru who announced this in Abuja at the weekend said that production capacity was rising.


"Reserves now stand at about 35 billion barrels and this underpins a steady growth in production capacity," .

According to the Minister,Nigeria's production capacity now stood at about three million barrels per day, following the addition of 500,000 barrels in 2005-06.

Said he,"Nigeria's production capacity growth between 2005 and 2010 is estimated at about six per cent annually.

This compares with other major producing countries, which have an average capacity growth of about three per cent annually in the same time period," he added.

Nigeria, the biggest producer of crude in Africa and a leading member of the Opec oil cartel, exports about 2.6 million barrels per day, but a quarter of that figure is currently lost because of unrest in the volatile Niger delta.

Relevant Links

West Africa
Nigeria
Petroleum
Economy, Business and Finance



Daukoru said that Nigeria, compared with other members of the Organisation of Petroleum Exporting Countries, expected phenomenal growth and the highest level of upstream investment between 2005 and 2010.

He further said between 2007 and 2010, total industry spending is estimated at about $100 billion - an average of $20 billion annually, up from $5 billion in 2000 and $10bn in 2006.

The minister expressed optimism that the unrest in the Niger delta, where numbers of foreign workers have been taken hostage by separatist groups in the past year, would not affect the volume of investment planned for the area.

Oil glut makes drillers better bet
By Vibeke Laroi in Oslo and Bruce Blythe in Chicago


February 27 2007


THE professionals most familiar with the so-called oil shortage know there's an estimated three trillion barrels under land and sea. That's why they're making their biggest bets in drilling rigs where the scarcity is no illusion.

Oil drillers "are the most attractive way to go", said Don Hodges, who holds about 160,000 shares of Transocean Inc and about 120,000 shares of GlobalSantaFe Corp among the US$1.1 billion (US$1 = RM3.49) managed by Dallas-based Hodges Capital Management. "There is a shortage, it takes time to build one and it takes a lot of money. Their earnings are going to go up every year for the foreseeable future."


Orders for offshore rigs have surged sixfold in the past five years, and rental rates are at the highest ever after oil prices tripled and industry profits soared. The wait for the most sophisticated rigs, which can drill in waters more than a mile deep, is a record three years, and the cost to lease one has quadrupled since 2004, climbing to more than US$500,000 a day.


"It's a big problem," Ashley Heppenstall, chief executive officer (CEO) of Stockholm-based oil producer Lundin Petroleum AB, said in an interview. "There has been a gross underinvestment in the industry for a number of years and we paid for that last year. We had delays in some of our drilling campaigns." Lundin plans to sink wells this year in Norway, Russia and Sudan, and has permits to explore in Vietnam, Ethiopia and Congo.


The rise in rig costs contributed to the five-year jump in oil prices by driving up production costs, hindering the discovery of new deposits and slowing the development of existing finds. The oil left underground in the US alone is enough to replace every barrel pumped from Iran for the next 20 years, according to statistics compiled by London-based BP plc, Europe's second-biggest oil company.


Rising oil prices are braking global economic growth. Each US$10-a-barrel increase in crude sustained for a year shaves between 0.4 percentage point and 0.6 percentage point off economic expansion, according to William Murray, a spokesman for the International Monetary Fund in Washington.


ExxonMobil Corp, BP and the rest of the largest oil producers are being forced to pay more to get the rigs they need to meet the world's ever-rising energy demand. With crude prices above US$50 for most of the past two years, investors from Boone Pickens to billionaire John Fredriksen, who controls the world's largest oil tanker company, are betting on drilling companies to outperform producers.


The price to build a deepwater rig has nearly doubled in less than a decade because of rising costs for steel, equipment and shipyard space, according to JPMorgan Chase & Co analyst David C. Smith.


A new deepwater rig that's capable of drilling in waters 7,500 feet or more costs US$525 million to US$625 million to build, up from US$300 million to US$400 million during the late 1990s, according to the Dallas-based analyst.


The shares of drillers are poised to replace oil and gas producers as the industry leaders, Hodges said. The Standard & Poor's 500 Oil & Gas Drilling Index, which includes Transocean, Noble Corp. and Dallas-based Ensco International Inc, is little changed in the past year. A measure grouping producers such as ExxonMobil and Chevron Corp, the Standard & Poor's 500 Integrated Oil & Gas Index, jumped 22 per cent in that time.


The losers are smaller companies that sink wildcat wells in hopes of finding a gusher.


Desire Petroleum plc, a UK-based oil explorer with a permit to drill offshore the Falkland Islands near Argentina, has sought a rig since early 2005. The firm lost US$3.3 million in its most recent six-month period.


"Enormous shortages of rigs are affecting everybody, from oil majors to companies such as ourselves," Ian Duncan, CEO at Desire Petroleum, said in a telephone interview. "It is difficult to find a rig anywhere."


The rigs most in demand are known as drillships and semisubmersibles, equipment used in deep waters.


The battle for rigs has intensified as oil producers boost exploration in the Gulf of Mexico, West Africa and Brazil. The number of offshore rigs in West Africa has increased to 56 from 44 a year ago, according to industry analyst ODS-Petrodata. In Asia and Australia, the number rose to 86 from 79.


"It takes three years from when you order a rig until it is delivered, and we haven't seen this before," said Martin Huseby Karlsen, an analyst with DnB NOR Markets in Oslo.


Lease rates have soared to a record. Seadrill Ltd, the Norwegian driller founded by Fredriksen, last month said it rented out a rig for an unprecedented US$525,000 a day. Contracts in early 2004 were signed for about US$125,000 a day.


"There's a fight for resources in the entire industry, not only rigs," Norsk Hydro ASA CEO Eivind Reiten said in an interview. "That's putting pressure on costs, and may challenge the progress of some of the projects, but my company, Hydro, is fortunate in being well-positioned there." Oslo-based Hydro is Norway's second-largest oil company.


The number of offshore drilling rigs on order at shipyards, a measure of demand, has jumped to 115 from 18 five years ago, according to ODS-Petrodata. With few rigs yet delivered, the number of offshore rigs operating worldwide is little changed in the past five years, at 657. This has helped push up oil prices to about US$61 as of last week from about US$25 five years ago.


As oil rose, profit for rig owners swelled. Transocean's net income last year was US$1.39 billion, up from US$19.2 million in 2003. The stock more than tripled during that time. Noble's net income jumped to US$732 million in 2006 from US$166.4 million in 2003. Shares of the Sugar Land, Texas-based company doubled.


The retreat in oil prices from the record US$78.40 a barrel in July poses no threat to exploration, said Alf Thorkildsen, chief financial officer for Seadrill Management AS, the Stavanger, Norway-based operating arm of Seadrill.


Seadrill is looking at buying competitors to get rigs and workers now and avoid the three-year wait. The biggest acquisition in the industry last year was when Fredriksen bought Norway's Smedvig ASA for US$2.4 billion. Seadrill, based in Hamilton, Bermuda, beat out Noble and became the industry's sixth-largest following the purchase. Fredriksen declined to comment for this story.


GlobalSantaFe, the world's second-biggest offshore driller by sales, with 61 offshore rigs, would be a "perfect fit" for Seadrill, because of its "premium drilling fleet and high-quality management team," said Alan Laws, an analyst at Merrill Lynch & Co in New York. Jeff Awalt, a spokesman with GlobalSantaFe in Houston, declined to comment.


"If we can justify economically a good acquisition, we have the tools to do that," said Thorkildsen. He declined to identify possible targets.


While oil and gas prices rise and fall, rig owners can lock in years of revenue with long-term leases. Houston-based Transocean on February 14 estimated its so-called contract backlog, or revenue expected from existing agreements, was almost US$21 billion for the next nine years.


Shares of rig companies are also cheaper than oil companies including ExxonMobil. Transocean trades at more than 10 times expected earnings, while Noble, the third-largest US offshore oil and gas driller, is at 8.1 times. Irving, Texas-based ExxonMobil trades at more than 12 times expected profit.


BP Capital LLC, the Dallas hedge fund managed by Pickens, boosted stakes in oilfield services stocks including Transocean and GlobalSantaFe in the fourth quarter, according to a filing with the US Securities and Exchange Commission.


Two of the five biggest holdings in the fourth quarter at Touradji Capital Management LP, a hedge fund firm founded by Paul Touradji, a former commodities trader at Julian Robertson's Tiger Management LLC, were Diamond Offshore Drilling Inc, an oil driller controlled by the Tisch family, and Hercules Offshore Inc. Both of the rig owners are based in Houston. - Bloomberg

Addax charts say JDZ drilling 2008 planned. See chart #34.


http://www.addaxpetroleum.com/_media/Investor_Presentation_Nov_2006.pdf

Fuel is main import of Sao Tome and Principe in 2006 [ 2007-02-26 ]


Sao Tome, Sao Tome and Principe, 26 Feb – The Sao Tome and Principe authorities spent US$13.7 million on fuel, the biggest imported product in 2006, according to the archipelago’s National Statistics Institute (INE).

Figures forwarded to Macauhub from INE showed that fuel imports, particularly gasoline, diesel and oil, represented 20 percent of imports between January and December of last year, at a total cost of US$68.04 million.

Food products, agricultural products, machinery and cars, with 17, 14, 11 percent, respectively, were the next largest groups of imports.

In 2005, fuel was the second biggest import category by cost, having been overtaken by agricultural products, which led the list by a 1 percent margin.

Overall imports in 2005 totaled US$40.3 million, with fuels accounting for US$8.1 million and agricultural products US$8.6 million.

Angola is Sao Tome and Principe’s largest fuel supplier via state oil company Sonangol.

The archipelago’s largest consumer of fuel is the country’s water and electricity company, which produces 80 percent of its power using fossil fuels.

In the last six months, fuel, particularly gasoline, which is currently sold at US$1.2 per liter, has increased consumer prices on the Sao Tome market. (macauhub)

Daukoru scores Nigeria energy sector high
By Luka Binniyat
Posted to the Web: Tuesday, February 27, 2007




ABUJA – The Minister of Energy, Dr. Edmund Daukoru, has chest-thumbed that the Nigeria Energy sector, has become one of the world’s fastest expanding energy sector, grossing in record high investments and posting an even more positive forecast for the near future.

The Minister who made these revelation at a Press conference in Abuja last Friday, said that the Nigerian Hydrocarbon sector is growing at an unprecedented rate, as an estimated inflow of spending in the upstream petroleum sector is expected to grow at an average of N3.6 trillion ($20 billion) annually and will swell to N130 trillion ($100 billion) between 2007 and 2011.

The industry investment for the upstream oil sector was $5billion in 2000 and $10 billion in 2006.
While making this revelation, he also added that Nigeria is about the second fastest gas growing sector, after Qatar .
On the upstream oil sector, Daukoru told the press that, the sector continues to see unprecedented growth, noting that since 1999, oil reserves have grown by about 5 billion barrels, as a result of serious exploration in the Nigeria deepwater

“Reserves now stand at about 35 billion barrels”, he said, adding that, “the Nigeria’s production capacity now stands 3 million barrels per day (mbpd) with recent additions from Bonga and Erha oil fields of 500,000 bpd”

He said that an additional capacity is in progress from the deepwater sector, through projects like Agbami (190,000 bpd); Akpo (160,000 bpd) and Usan (120,000 bpd).

“In the inland swamp terrains”, said the Minister, “an additional; 2mbpd is expected by 2010”, he said, adding that, “a combination of these projects will arrest production decline and grow capacity to over 4 million bpd by 2010 in line with the 1999 aspiration”.

According to him, Nigerian’s capacity growth of between 2005-2010 is estimated at 6% annually, saying it is at per with other major oil producing countries who have about 3% capacity growth annually.

“The capacity growth is evidenced in the industry investment level. Compared to OPEC countries, Nigeria is forecast to see an unprecedented growth rate at the highest level of upstream investment between 2005-2010. Specifically, between 2007-2011, total industry spends is estimated at about $100 billion – an average of $20 billion annually, up from $5 billion in 2000 and $10 billion in 2006”, he said. On the Nigerian Gas sector, Daukoru, a geo-physicist, with 30 years experience in the oil and gas sector, said that the Nigerian Liquefied Gas (LNG), has grown to Train 6 today from Train 2 in 1999, to make Nigeria one of the fastest growing LNG destinations.

“The NLG now exports about 22 million ones Per Annum (mtpa) and about 3.5 mtpa in Natural Gas Liquids (NGL).
“The plant has delivered over $3 billion in revenue to Nigeria , compared with zero income from pre-1999”, he said.
“With high gas price in western markets”, he said, “the Nigerian gas sector has repositioned itself to leverage the opportunities resulting from these changes”, he said.
He said that two new LNG plants are now being built with a combined capacity of 32 mtpa, saying that the plants are scheduled to come on stream by 2011.
“ Nigeria is now on tract to be the second fastest growing LNG capacity in the world, second only to Qatar ”, he said.


ABUJA – The Minister of Energy, Dr. Edmund Daukoru, has chest-thumbed that the Nigeria Energy sector, has become one of the world’s fastest expanding energy sector, grossing in record high investments and posting an even more positive forecast for the near future.

The Minister who made these revelation at a Press conference in Abuja last Friday, said that the Nigerian Hydrocarbon sector is growing at an unprecedented rate, as an estimated inflow of spending in the upstream petroleum sector is expected to grow at an average of N3.6 trillion ($20 billion) annually and will swell to N130 trillion ($100 billion) between 2007 and 2011.

The industry investment for the upstream oil sector was $5billion in 2000 and $10 billion in 2006.
While making this revelation, he also added that Nigeria is about the second fastest gas growing sector, after Qatar .
On the upstream oil sector, Daukoru told the press that, the sector continues to see unprecedented growth, noting that since 1999, oil reserves have grown by about 5 billion barrels, as a result of serious exploration in the Nigeria deepwater

“Reserves now stand at about 35 billion barrels”, he said, adding that, “the Nigeria’s production capacity now stands 3 million barrels per day (mbpd) with recent additions from Bonga and Erha oil fields of 500,000 bpd”

He said that an additional capacity is in progress from the deepwater sector, through projects like Agbami (190,000 bpd); Akpo (160,000 bpd) and Usan (120,000 bpd).

“In the inland swamp terrains”, said the Minister, “an additional; 2mbpd is expected by 2010”, he said, adding that, “a combination of these projects will arrest production decline and grow capacity to over 4 million bpd by 2010 in line with the 1999 aspiration”.

According to him, Nigerian’s capacity growth of between 2005-2010 is estimated at 6% annually, saying it is at per with other major oil producing countries who have about 3% capacity growth annually.

“The capacity growth is evidenced in the industry investment level. Compared to OPEC countries, Nigeria is forecast to see an unprecedented growth rate at the highest level of upstream investment between 2005-2010. Specifically, between 2007-2011, total industry spends is estimated at about $100 billion – an average of $20 billion annually, up from $5 billion in 2000 and $10 billion in 2006”, he said. On the Nigerian Gas sector, Daukoru, a geo-physicist, with 30 years experience in the oil and gas sector, said that the Nigerian Liquefied Gas (LNG), has grown to Train 6 today from Train 2 in 1999, to make Nigeria one of the fastest growing LNG destinations.

“The NLG now exports about 22 million ones Per Annum (mtpa) and about 3.5 mtpa in Natural Gas Liquids (NGL).
“The plant has delivered over $3 billion in revenue to Nigeria , compared with zero income from pre-1999”, he said.
“With high gas price in western markets”, he said, “the Nigerian gas sector has repositioned itself to leverage the opportunities resulting from these changes”, he said.
He said that two new LNG plants are now being built with a combined capacity of 32 mtpa, saying that the plants are scheduled to come on stream by 2011.
“ Nigeria is now on tract to be the second fastest growing LNG capacity in the world, second only to Qatar ”, he said.

Nigeria Launches Oil Warrant Invitation
ABUJA, Nigeria, Feb. 26 /PRNewswire/ -- The Central Bank of Nigeria (the "Central Bank") has launched today an invitation addressed to the holders of its Payment Adjustment Warrants issued in 1991 (the "Oil Warrants") and representing the Central Bank's Payment Adjustment Rights (the "Rights") to submit, in a modified Dutch auction, offers to sell the Oil Warrants back to the Central Bank for cash. The invitation and withdrawal rights will expire at 5:00 P.M., CET, on March 23, 2007 (unless extended by the Central Bank in its sole discretion).

Holders of Oil Warrants accepted for purchase will receive, for each Right purchased, an amount in U.S. dollars equal to the clearing price. If the Central Bank decides to accept offers, it intends to select and announce the clearing price on March 29, 2007 (unless extended by the Central Bank in its sole discretion), provided that the clearing price may not be less than the minimum clearing price, which is U.S.$220 per Right. The Central Bank may modify the minimum clearing price at any time but no later than March 15, 2007.

Holders who submit (and do not withdraw) noncompetitive offers prior to 5:00 P.M., CET, on March 9, 2007 (unless extended by the Central Bank in its sole discretion) will receive, in addition to the clearing price, U.S.$2.00 per Right accepted for purchase by the Central Bank.

Holders of Oil Warrants may participate in the invitation by submitting a letter of transmittal to Citibank, N.A., the depositary for the invitation, by facsimile, by courier or by hand delivery and by tendering their Oil Warrants at or before the expiration date in accordance with the invitation procedures. Holders located in Luxembourg may submit letters of transmittal to Dexia Banque International a Luxembourg, societe anonyme, the Luxembourg special agent for the Invitation, but must also submit a copy of the letter of transmittal to Citibank, N.A.

Copies of the information memorandum describing the invitation and the form of letter of transmittal may be obtained from the information agent for the invitation, D.F. King and Co., Inc., at 48 Wall Street, New York, NY, 10005, tel: +1 212 269 5550 or 2 London Wall Buildings, London, EC2M 5PP, tel: +44 20 7920 9700.

The Dealer Manager for the invitation is Citigroup Global Markets Limited.

Mark, look at chart 17 - no mention of JDZ in growth pipeline. This chart is titled, "International & Frontier Growth Pipeline". Anadarko mentions Brazil, Algeria, Trinidad, China, and Alaska - but no JDZ. Nothing, zero.

This was a recent presentation, Feb 2007, this month.

ND9


http://media.corporate-ir.net/media_files/nys/apc/presentations3/CreditSuisse_web.pdf

Mark, how do you explain them not mentioning it in their Credit Suisse presentation?

I would think that if you are presenting to a bunch of potential investors, you'd mention it. Not only did Anadarko not mention drilling in the JDZ, but the JDZ wasn't even in their "growth chart".

Hmmmm - makes me wonder.

Thoughts?

ND9

Mark, Anadarko doesn't even mention JDZ in Credit Suisse presentation on Feb 8, 2007. JDZ also wasn't listed in growth pipeline.

8-Feb-2007 Robert Daniels to Present at Credit Suisse Energy Summit

http://media.corporate-ir.net/media_files/nys/apc/presentations3/CreditSuisse_web.pdf

Walldog, you're dreaming. EOM

SEOs has major influence right now because he's backed by the Nigerian President. Nigeria has elections ~ April 2007. Let's hope SEO is close to whoever takes over the Presidency.

ND9

Sao Tome prospectivity totally different.

That's what this Brazilian official says below ("São Tomé are close to those of Nigeria, their prospectivity is totally different,”)........... however, he doesn't elaborate what that means.

ND9
**************************************************

Brazilian national oil company investing billions in Africa
---------------
Brazilian State-controlled oil and gas company Petrobras, which had its gas facilities in Bolivia nationalised last year, is wary of the resurgance of resource nationalism but this has not deterred it from seeking to expand its operations abroad, including in Africa.

“The rise of resource nationalism is of concern to us,” affirms Samir Passos Awad, Petrobras GM for asset development in northern South America, Central America and the Caribbean, North America, Africa, and Eurasia.

“Any change to the contractual agreements under which you have decided to invest your dollars is a great concern to us.

“Our government acknowledges the right of other governments to manage their resources as they wish, but, as a company, we don’t like being caught in this crossfire,” he says.

Adding to these rising political- risk problems, technical risk is becoming increasingly important for the industry as well.

“Everybody is still finding oil, but there have been fewer huge discoveries lately; rather, they are medium- and small-sized fields,” he points out.

“But, for example, although the offshore blocks of São Tomé are close to those of Nigeria, their prospectivity is totally different,” he cites.

Even so, the company continues to seek opportunities outside Brazil, including in Africa.

Petrobras is currently present in Libya, Nigeria, Equatorial Guinea, Angola, Tanzania, and Mozam-bique. In most of these countries, it is currently active only in explor- ation.

“In Mozambique, we’re partners with Petronas of Malaysia – Petronas has the Zambezi block, which is huge, and we will be drilling the first exploration well in the middle of this year,” he reports.

Petrobras also has a broad memo- randum of understanding with Mozambique’s State oil and gas company, ENH, which covers explor- ation studies and other potential activities, such as biofuels like ethanol.

“In Angola, last November, we acquired participation in four exploration blocks and we have a commitment to drill 11 wells during the next five years; we will invest $1-billion in this exploration programme,” he reveals.

As a consequence of previous offshore exploration activities, the company is currently producing a tiny amount of oil in Angola – about 6 000 bb/d to 7 000 bb/d.

But it is in Nigeria that the company will first begin significant production of oil in Africa.

“From the start of our activities there in 1999 until today, we have invested $800-million in Nigeria, and we will invest another $2-billion over the next five years,” says Awad.

Petrobras’s Nigerian operations will start coming on stream next year, with full production expected to be achieved in the second quarter of 2009.

“At about 80 000 bb/d, Nigeria will be our biggest producer in Africa for some time,” he states.

To give a sense of proportion to this, Petrobras currently produces 2 200 000 bb/d, of which 1,9-million is produced in Brazil.

The company’s Nigerian operations will be far offshore, in deep water – an environment in which the Brazilians are world leaders – and thus safely removed from the turbulence and violence of the Niger River Delta region.

Petrobras made the decision to seriously go international in the late 1990s when its domestic monopoly was abolished and it found itself under unprecedented pressure in its home market.

“We had had an international presence since 1972, but it was very timid, very small-scale,” he comments, adding that the company’s first identified targets for inter- national expansion were West Africa and the Gulf of Mexico.

“These were two basins where deep-water drilling was required and we already had 20 years experience in this regard,” he explains.

“Since then, we’ve refined and developed our strategy, increasing our presence in Africa but also entering Turkey, Iran and, in the near term, Pakistan, while the Gulf of Mexico has really taken off for us,” he reveals.

“But Africa remains one of our targets, becuase of the prospectivity, and the risk/reward situation – in this business we have to consider political risk, social risk, as well as technical risk,” highlights Awad.

Africa tops Mideast for U.S. crude

Feb. 24, 2007, 8:28PM
Africa tops Mideast for U.S. crude
Import trends changed by Asia's rapid growth


By DAVID BIRD
Dow Jones News Service


NEW YORK — When it comes to supplying the United States with oil, Africa is quietly trumping the Middle East.

U.S. crude oil imports from Africa topped supplies from the Middle East in 2006 for the first time in 21 years, recent government data show. As recently as 2001, U.S. imports from the Middle East surpassed African supplies by more than 10 percent, or 1.3 million barrels a day. Now, the fractional edge given to African crude oil suppliers underscores a number of market changes and may grow wider in coming years.

Surging growth from Asia — led by China, where oil demand is expected to grow 6.2 percent this year — is drawing huge volumes of Middle East crude. In the U.S. market, output constraints from aging oil fields in Mexico and Venezuela are weighing on imports from those countries.

Crude supplies from Africa and the Middle East each accounted for a 22 percent share of U.S. crude imports, but in actual physical supplies, Africa's flow topped the Middle East by 8,000 barrels a day.

Crude from Africa, at 2.23 million barrels a day, was the highest since 1979 and a 4.8 percent jump from 2005. The 22 percent share — the biggest in 25 years — compares with 21 percent last year and a share of less than 13 percent in 2002.

The volume of U.S. crude imports from the Middle East, at 2.22 million barrels a day, dipped just 20,000 barrels a day on the year, but marks the third straight annual decline.

"Strong demand growth in Asia is pulling Persian Gulf crude eastward and the new supply from Africa is staying in the Atlantic Basin," said Greg Priddy, global energy analyst at the Eurasia Group in Washington.

Major producers such as Saudi Arabia — the world's largest oil exporter — and other Middle East producers have targeted more volumes to China and India, where they've also built joint ventures to sell petroleum products.

Saudi Arabia saw its third straight decline in crude supply to the U.S. market, with a 1.7 percent dip to 1.42 million barrels a day, the lowest volume since 1999.

Supplies from other traditional top suppliers Mexico and Venezuela are raising concern because of declines in output. U.S. crude imports from output-constrained Caracas slumped 8.2 percent.

Oil producers in Africa have picked up the slack. U.S. crude imports from Angola surged 41 percent in December from a year earlier, capping a 12.5 percent full-year gain to a record average of 513,000 barrels a day.

U.S. crude imports from Algeria jumped 57 percent to 357,000 barrels a day in 2006, the highest volume since 1980.

However, U.S. imports from Nigeria — Africa's biggest oil producer — dropped 3.2 percent on the year to 1.043 million barrels a day, the lowest level since 2003 as civil unrest in the oil-producing Delta region disrupted supplies throughout the year.

SEO - Guinea Insurance is the Beautiful Bride
ND9
**********************************************
Nigeria: Guinea Insurance is the Beautiful Bride - Emeka Offor

Daily Champion (Lagos)

February 20, 2007
Posted to the web February 20, 2007

Lagos

HE said it much earlier that the brand, Guinea Insurance Plc will remain and we meant it then. In spite of the changes and consolidations in the market, Guinea Insurance will remain. It is now bigger and stronger. Many other companies have being coming to ask us to accept them but we want to take our time now that we know that we are the beautiful bride. We have acquired Precious Trust and our doors are still open for those who want to join us."

And that was how chairman of guinea Insurance Plc, Sir Emeka Offor opened proceedings at the completion board meeting of the company during which arrangements were concluded for the company's share offer.


Sir Offor who spoke through Mr. Fred Udechukwu, a director of Guinea Insurance Plc said that it was for strategic reasons that the company is coming out with its share offer at this time.

According to him, Guinea Insurance has perfected every strategy towards ensuring that the old generation company retains its pride of place in the market.

Mr. Udechukwu informed that all the shareholders of Guinea are already waiting in the wings for the flag off of the share offer even as he revealed that the company has obtained all the legal and statutory approvals for its consolidation programme.

Incorporated in 1958, Guinea Insurance Plc is offering by way of rights, 4.68 billion ordinary shares of 50 kobo to all existing shareholders. The shares which is been offered at the ratio of 13 new shares for every two previously held goes for 60 kobo per share. The offer is been handled by Vetiva Capital Management Limited.

As a measure of the company's confidence on the willingness of the shareholders to exercise their rights, the share offer is to last for only three days as it opens tomorrow and ends on Friday, February 23, 2007.

Guinea Insurance Managers have said that the purpose of the offer is to meet the minimum capital requirement of N3 billion prescribed for non-life companies. They have gone ahead to add their intention to executive certain strategic plans towards transforming Guinea into becoming a predominant player in the post consolidation market.

Guinea Insurance had made a 2007 pre-tax profit projection of N279 million.

Speaking with newsmen shortly after signing the offer documents, the managing director and chief executive officer of Guinea Insurance Plc, Mr. Nick Ojinnaka hinted of plans to acquire a new corporate head office for the company.

Mr. Ojinnaka said that the proceeds of the rights insurance will aid the firm's branch network expansion as well as research into new products.

He urged shareholders to exercise their rights in the offer assuring them of better days ahead.

Addax might be added to S&P/TSX
ND9
*****************************************************

Adjustments to the S&P/TSX composite index
The S&P/TSX composite index will be rebalanced in March — probably on or before the 14th — which means that analysts are now playing a quarterly guessing game as to which names will be added and which names will be deleted.

Yin Luo of CIBC World Markets believes that no names will be removed from the index, currently home to 273 companies.

However, four companies meet all the criteria for being added: Addax Petroleum Corp., Eastern Platinum Ltd., Fronteer Development Group Inc. and Anvil Mining Ltd.

As well, Mr. Luo noted that two other companies come very close to meeting the thresholds for making the composite index: North West Company Fund Trust
and Canadian Hotel Income Properties REIT.

David Berman
dberman@nationalpost.com


Link to this | E-mail this | Digg this | Post to del.icio.us
Published Thursday, February 22, 2007 12:33 PM by Jonathan Ratner
Filed under: mining, REIT, S&P/TSX composite

EOD .37 buys out ERHC. Oily posted this back in Sept 2006.

Later, he said EOD = Emeka Offor deal
ND9.
********************************************************
There is a deal on the table. There ERHC Energy Inc. (ERHE)
9/20/2006 12:56:43 PM

ERHC ERHC Energy Inc. (ERHE)
9/19/2006 10:36:32 PM

out Phoenix Associates Land Syndicate (PBLS)
9/19/2006 10:35:16 PM

buys NeoMedia Technologies (NEOM)
9/19/2006 10:01:23 PM

EOD .37

SEO is ~ 50 years old........ based on info below.
ND9
***************************************************


Since February 2001, the following directors and executive officers have served
the Company.

Name Age Position
Sir Emeka Offor 45 Chairman of the board

Trimline to turn old prison ship into oil riggers paradise
Comment
SHIP refit firm Trimline has expanded further away from its traditional luxury market by taking on a major refurbishment of the former prison ship Weare in Portland, pictured.

Closed in March 2005, the new role for the vessel is set to be as an accommodation barge serving oil rig workers based off the coast of West Africa.

A massive programme to transform the vessel from a prison hulk is likely to take some six months and will see Trimline upgrade more than 200 cells into cabins.

advertisementUp to 25 Trimline contractors are working on the vessel, now owned by Seatrucks and known as Jascon 27.

In addition to cabins, they have been upgrading games rooms, classrooms, galleys, alleyways and toilets.

One of the biggest tasks has been to remodel a former prison visitors room into a new mess area with servery.

Trimline Sales and marketing Director Mike Oliver explained: "This is another significant expansion of our customer base. We have already refurbished accommodation on ships used in the offshore market and this accommodation unit is a further example of the work that we can carry out in this sector."

The six-figure deal follows hard on the heels of last week's announcement that Trimline had landed a multi-million deal to refurbish the Royal Fleet Auxiliary's repair and maintenance ship RFA Diligence.

Meanwhile, Paget Street based Trimline is keeping its traditional focus on the luxury passenger ship business, supplying curtains, carpet and soft furnishings to more than 900 cabins on P&O's Oriana following a refit in Bremerhaven.

Further carpet work has been carried out on the liner Discovery in Barcelona and a Trimline team was called out to Dubai to redecorate public rooms on the small, luxury cruise ship Hebridean Spirit.

And the Texas tea keeps flowin': Over the weekend, Tillerson's colossus and rival U.S. oil major Chevron (nyse: CVX - news - people ) may have struck a mother lode off the West African island state of Sao Tome and Principe.

According to the AFX newswire, preliminary drilling results indicate the offshore Obo-1 well may contain more than a billion barrels worth of oil and natural gas

Balance Builder, thanks. EOM.

Nigeria: Oil Coys Should Forfeit Part of their Income for the Development of Host Communities ? Hayford Alile

Vanguard (Lagos)

February 19, 2007
Posted to the web February 19, 2007

Sam Eyoboka


DISTURBED by the un-ending crises in the Niger Delta, the chairman of Oceanic Bank International and Spiritual leader of Saint Joseph Chosen Church of God, Apostle Hayford Alile, has advocated an arrangement where licences of oil blocks will forfeit part of their income for the development of the host communities.

He also questioned the rationale behind multinational oil corporations operating in Nigeria being quoted in their home Stock Markets without being quoted in the Nigerian Stock Market, stressing that secrecy surrounding the operations of oil companies in the country calls for serious scrutiny.


In an interactive session with newsmen in Lagos, the Apostle, who was the pioneer managing director of the Nigerian Stock Exchange, NSE, said in view of what is currently happening in the Niger Delta, the Federal Government must now consider taking a second look at the operations of foreign oil companies in the country.

"Why should Shell, British Petroleum, Conoil, Chevron and such like be quoted in their countries' stock markets and are not quoted here?" he queried.

"If these foreign companies are quoted in the Nigerian Stock Market and there is transparency and accountability in their operations, the tension in the area will reduce because nobody can go and set fire on pipelines in the Delta if they own some shares in the companies," he said.

While calling for an upward review of the derivation formula for a sustainable peace in the Niger Delta, Apostle Alile said there is the urgent need for the incoming administration to make sure that these joint venture arrangements of the country are broken down for the proper understanding of every Nigerian.

Though the cleric is not happy with political leaders in the Niger Delta who he accused of collecting huge oil revenues without ploughing such monies to the benefit of the citizens of the area, he pointed out that a definite arrangement should be put in place so that new licences are issued to persons who will commit 15 or 20 per cent of same to the development of the host communities.

On the perennial issue of fuel scarcity, Apostle Alile said there is no justifiable reason why the nation's four refineries should be grounded for such a long time without anybody giving the Nigerian public a true position of things.

"Our neighbours who depend on Nigeria for their fuel consumption do not have fuel scarcity as we, the producers, do," he said, arguing that the nation's four oil refineries are obsolete and desire to be replaced completely.

He disagreed with government officials whose only explanation each time there is fuel scarcity was price differential, stating that increase in prices without a corresponding increase in allocation of funds to the nation's education sector is tantamount to mortgaging our collective future.

Apostle Alile argued that the democratic culture we have been trying to build can only suffice if there is a high level of middle class which the prolonged military interregnum had decimated.

Relevant Links

West Africa
Nigeria
Petroleum
Stock Markets



According to him, a working middle class can only be built when the nation's leaders make deliberate efforts to educate the teaming number of Nigerian youths who currently appear to lack direction.

"We are still babies when you talk of democratic practice," he added "but, in all the different models of public governance, democracy is still the best. Thank God we have just finished one demographic exercise, though we still cannot tell how many of the lot are educated."

Emphasising the need to nurture the democratic culture to take root in the country, Alile said millions of Nigerians still go to bed without dinner every night, adding that it was lack of proper planning on the part of our leaders.


http://allafrica.com/stories/200702190182.html

Nigeria: 'Oil Sector to Spend $25 Billion On Procurement'

This Day (Lagos)

February 18, 2007
Posted to the web February 19, 2007

Ndubuisi Ugah With Agency Reports
Lagos

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Funsho Kupolokun, has said the oil sector will spend about $25 billion to procure service materials over the next five years.

He said there was currently no capacity within the country to meet the demand of 1.15 million tonnes of steel pipe required by the oil and gas industry.


Speaking in Abuja, Kupolokun, said "Steel pipes and cement represents a major component of the procurement expenditure".

He remarked that there were efforts to create awareness on the need to establish a local steel pipe manufacturing facility to meet the growing demand for the commodity.

"Already, many international companies are setting up operations in Nigeria with Nigerian partners to meet the steel pipe demand," Kupolokun said.

He said incentives to encourage interested investors were being worked out, adding:

"The oil and gas sector is being repositioned through series of complimentary initiatives to deliver service sector opportunities," he said.

The NNPC chief said the commitment of the NNPC and other stakeholders in ensuring transparency in oil and gas business had resulted in significant service opportunities in engineering, fabrication, construction among others.


The Federal Government recently announced a 70 per cent target local content in the oil sector by the turn of the decade.

The current level of between 15 and 20 per cent, was deemed low when viewed against jobs handled by foreign companies and local ones.

The effort was to achieve between 30 and 45 per cent local content in the oil and gas sector by the end of this year.

http://allafrica.com/stories/200702190523.html

Feltang post #91398 must have everybody scared. Second time I've posted this and only 1 response (Sunday). Hmmmm, probably not a good sign.

So if ERHC's payment to "Feltang" and this new "Feltang Oil & Gas Limited (Nigeria)" are one in the same, could that mean ERHC has funneled money to some other overnight Nigerian company?

Not sure, but could it mean SEC trouble? For so long, folks have wondered who Feltang was......... well, maybe here's the answer.

Yes, I'm long and strong on ERHC. Haven't sold 1 single share. So hold your basher comments.

ND9

Feltang Oil & Gas Limited Nigeria

I posted this over the weekend....... Not sure if anybody saw it so I'm reposting...........

Don't remember this Nigerian company....... Website looks new. Does anybody remember it and if so, is it related to ERHC's Feltang? See below.

thanks,
ND9
*******************************************************

Feltang Oil & Gas Limited

Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide. Beyond Energy will, within a short time, become the reference point for qualitative service delivery in the oil service industry in Nigeria
http://www.feltang.com/about.asp

***********************************************************
The Company agreed to pay a $3,000,000 cash success fee ($1,500,000 was paid in March 2006 and the remaining $1,500,000 is included in accounts payable at June 30, 2006) to Feltang International Inc. ("Feltang"), a British Virgin Island company that was responsible for obtaining Sinopec's participation in Block 2. Under the agreement with Feltang, in addition to the cash payments, the Company also will issue 5,250,000 shares of common stock and warrants for 6,500,000 shares at $0.355 per share.

Indian Companies Become Major Players in Overseas Acquisitions
By Anjana Pasricha
New Delhi
18 February 2007

Chairman of the Aditya Birla Group Kumar Mangalam Birla, right, reacts as Managing Director of Hindalco Industries Ltd. Debu Bhattacharya replies to a question at a press conference in Mumbai, India, 11 Feb 2007
Leading Indian companies have recently made a string of overseas acquisitions. As Anjana Pasricha reports from New Delhi, the takeovers reflect India's increasingly greater role in the global economy.

Indian companies are on a shopping spree. Hindalco Industries recently acquired the Canadian aluminum company Novelis for $6 billion. That came on the heels of an even larger acquisition: the takeover of the Netherlands-based steel maker, Corus, by India's Tata conglomerate for nearly $12 billion.

The two firms have led the way in large takeovers over the last several years, as Indian companies begin scouting for growth opportunities overseas.

The value of takeovers by Indian firms has risen sharply, from less than $1 billion in 2000 to an estimated $8 billion last year. Acquisitions in the first six weeks of 2007 added up to more than $18 billion.

D.H. Pai Panandiker, the head of New Delhi's independent economic think tank, the RPG Foundation, says more and more Indian corporations are looking abroad for growth.

"Many of the companies are now loaded with funds, and they want a quick expansion, and this they can do only by acquiring other companies. Now in the domestic market, it will be difficult for them to acquire companies," he said. "So I think cross-border acquisitions will be the trend of the day."

The Indian companies' impressive buying power is partly due to healthy profits made in a booming economy, and partly because a surging stock market has raised their valuations many times.

Panaindiker say companies going global are seeking a variety of benefits, including expansion, and securing export markets.

"One is [they want] instant increase in size. Number two, they want to have also the latest technology, which is not easily available," added Panaindiker. "The third reason is acquiring a brand, and fourth, probably, is you are in the international market for marketing."

Companies seeking a foothold overseas range from information technology to pharmaceuticals to manufacturing. The Tatas, for example, have also bought a hotel in New York, pharmaceutical companies have acquired small European firms, and a Bangalore firm has made a bid for a Scottish whisky distiller.

The size of most deals is still small by global standards, averaging about $50 million, but the recent takeovers signal that Indian businessmen are ready to become major players in the field of international acquisitions.

Industry watchers say Indian businessmen are also fueled by new ambitions. The grand old man of India's Information technology industry, N.R. Narayana Murthy, the head of Infosys, recently summed up the ruling sentiment in the boardrooms of Indian corporations.

In his words," the mindset of Indian firms is becoming increasingly globalized. It means the entire globe is our playground."

Rocky822, thanks, I'll keep researching - EOM

Feltang Oil & Gas Limited Nigeria - website

Website doesn't have much data - looks very new. There is one link that has some words on Management Team but when I put them into language identifier websites, it is identified as Latin or some other language that isn't tied to Nigeria........ Hmmm, not sure.

ND9

***************************************************
Feltang Oil & Gas Limited Nigeria

I don't remember this company....... Website looks new. Does anybody remember it and if so, is it related to ERHC's Feltang? See below.

thanks,
ND9
*******************************************************

Feltang Oil & Gas Limited

Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide. Beyond Energy will, within a short time, become the reference point for qualitative service delivery in the oil service industry in Nigeria
http://www.feltang.com/about.asp

***********************************************************
The Company agreed to pay a $3,000,000 cash success fee ($1,500,000 was paid in March 2006 and the remaining $1,500,000 is included in accounts payable at June 30, 2006) to Feltang International Inc. ("Feltang"), a British Virgin Island company that was responsible for obtaining Sinopec's participation in Block 2. Under the agreement with Feltang, in addition to the cash payments, the Company also will issue 5,250,000 shares of common stock and warrants for 6,500,000 shares at $0.355 per share.

France in bid to salvage waning ties to Africa
By Scott Baldauf, Staff writer of The Christian Science Monitor
Fri Feb 16, 4:00 AM ET



JOHANNESBURG, SOUTH AFRICA - Following hard on the heels of Chinese President Hu Jintao's eight-nation tour of Africa last week and the US announcement that it will create a new military command for Africa, the Franco-African summit in the swanky city of Cannes, France, shows that the scramble for Africa is picking up pace.

ADVERTISEMENT

With more than 30 African heads of state and representatives from nearly all of the 53 nations of the continent attending, the 24th Franco-African summit is an attempt to reassure France's former colonies - and any other African countries that are interested - that France will continue to champion African causes on the global stage, such as development aid, debt relief, and greater access to global markets.

But at a time of increasing competition from Chinese, American, Indian, and South African players in search of African resources, France is finding that "la francophonie" - the language, culture, and history it shares with its former colonies - is a harder sell. France is also fending off increased criticism over its tendency to put relations with allied African regimes above good governance.

"France has traditionally had difficulty letting go of its colonies, and has meddled heavily and propped up its former colonies," says Ross Herbert, a political analyst at the South African Institute for International Affairs in Johannesburg. As a result, "Francophone countries in Africa have largely delayed the kinds of political reforms that English-speaking countries did 15 years ago, and so you see a lot of anti-democratic behavior prevailing among their leaders, and corruption, and economic and political decay."

History of the summits
Started nearly 50 years ago as a continuing dialogue with its former French-speaking colonies, the Franco-African summits once were gatherings of newly independent leaders and their former colonial masters. France often promised material and military aid to prop up unelected leaders, some of whom ruled for decades, in return for a continuation of trade relationships that allowed French companies to remain in Africa.

France even created a separate currency for its former colonies - the Communauté Française d'Afrique franc - to facilitate this trade.

Many African analysts are quick to point out that France's faults in Africa are similar to those of most colonial powers, and even other players, such as the US and China. "For the average African, the state is the enemy," says Richard Cornwell, a political analyst at the Institute for Security Studies in Pretoria. "But very often, outside countries, such as France and China, tend to strengthen the state, which is the exact opposite of what the Africans want and need."

While France reduced the number of French bases on the continent from nine in the 1960s to its current three (in Djibouti, Chad, and Senegal), France's bilateral military relationships with many former colonies have left a black mark on its postcolonial history.

Military meddling leaves sour taste
Current examples of this are found in Ivory Coast, where French military battled national forces after the government of President Laurent Gbagbo launched a military raid that killed nine French peacekeepers in 2004. With French forces now at a stalemate in that country, enforcing arms embargos and travel bans, some security experts call this mission "France's little Iraq."

More troubling to critics of France's role in Africa was France's support of Rwanda's former Hutu-dominated government in the early 1990s, even after evidence that government supporters - on radio, in newspapers, and in churches - were announcing publicly their preparations to wipe out the Tutsi minority in 1994. Even after the genocide began, many experts alleged that France still airlifted military supplies to the government that was behind the killing of Tutsis. More than 800,000 Tutsis were killed.

This past fall, a French judge went so far as to issue international arrest warrants for nine close aides of President Paul Kagame, citing evidence that it was Kagame's Tutsi forces that shot down Hutu President Juvenal Habyarimana's plane in 1994.

Mr. Kagame is not among the attendants of the Cannes summit. In fact, Kagame cut diplomatic ties with France in November, and has since applied for membership in the Commonwealth, a group of Britain's former colonies.

African protesters, along with international aid organizations, led protests outside of the Cannes summit this week, and France's ties with illiberal African regimes has become a hot-button topic in the ongoing presidential race to replace President Jacques Chirac.

"By favoring personal friendships to the detriment of the general interest, the presidential practice has tarnished the image of our country, which is associated in African minds with the most questionable regimes on the continent," wrote French presidential candidate Ségolène Royal, in an editorial for the Témoignage Chrétien, a Catholic weekly.

French diplomats argue that such criticism betrays the complexities of some of Africa's conflicts and paints an unfair picture of France's overall policy toward Africa.

"Now we are trying to build these summits around the idea of how Africa figures into the balance of the world," says a French diplomat in Africa, speaking on condition of anonymity. "The issues that pertain to most Africans are how you deal with mineral wealth of Africa, to make sure that it is not going into shady deals or funding wars, but instead make sure that a percentage of it gets back to the populations."

On a broader level, Africans may be finding more common ground with their former colonial masters, who at least appear to be voicing their own fears about more immediate concerns, such as America's increasing willingness to go it alone, and topple governments in the name of democracy.

"France is not innocent, both in terms of past colonial history and even in the present time, in places like Ivory Coast and Rwanda," says Peter Kagwanja, director of the democracy and governance programs at the Human Sciences Research Council in Pretoria. "But on balance, France seems to be striking a chord with the weaker nations of the world, which feel vulnerable to the democratic militarism, the export of democracy via the gun."

Africans are saying, 'We would like to associate with the demands ... for multilateralism, for a consensus between the weak nations and the strong,' says Mr. Kagwanja. "At this point in history, France is on the right side of the global opinion."

BB - take a look - Feltang Oil & Gas Limited Nigeria

I don't remember this company....... Website looks new. Does anybody remember it and if so, is it related to ERHC's Feltang? See below.

thanks,
ND9
*******************************************************

Feltang Oil & Gas Limited

Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide. Beyond Energy will, within a short time, become the reference point for qualitative service delivery in the oil service industry in Nigeria
http://www.feltang.com/about.asp

***********************************************************
The Company agreed to pay a $3,000,000 cash success fee ($1,500,000 was paid in March 2006 and the remaining $1,500,000 is included in accounts payable at June 30, 2006) to Feltang International Inc. ("Feltang"), a British Virgin Island company that was responsible for obtaining Sinopec's participation in Block 2. Under the agreement with Feltang, in addition to the cash payments, the Company also will issue 5,250,000 shares of common stock and warrants for 6,500,000 shares at $0.355 per share.

Feltang Oil & Gas Limited Nigeria

I don't remember this company....... Website looks new. Does anybody remember it and if so, is it related to ERHC's Feltang? See below.

thanks,
ND9
*******************************************************

Feltang Oil & Gas Limited

Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide. Beyond Energy will, within a short time, become the reference point for qualitative service delivery in the oil service industry in Nigeria
http://www.feltang.com/about.asp

***********************************************************
The Company agreed to pay a $3,000,000 cash success fee ($1,500,000 was paid in March 2006 and the remaining $1,500,000 is included in accounts payable at June 30, 2006) to Feltang International Inc. ("Feltang"), a British Virgin Island company that was responsible for obtaining Sinopec's participation in Block 2. Under the agreement with Feltang, in addition to the cash payments, the Company also will issue 5,250,000 shares of common stock and warrants for 6,500,000 shares at $0.355 per share.

President Obasanjo Tells PDP Caucus of Plan To Arrest Atiku
BY Sunny Ofili
DATE : Saturday, 17 February 2007
May Dissolve National Assembly And Assume Emergency Powers!
President Olusegun Obasanjo has perfected a plot that will see him arrest Vice President Abubakar Atiku next week should the Court of Appeals rule in his favor by declaring the office of the Vice President vacant. He is also contemplating dissolving the National Assembly and evoking a state of emergency nation-wide.


President Obasanjo told selected members of the ruling party’s caucus at a secret meeting held yesterday, Friday, February 16, 2007 at the Aso Rock Villa that he has been assured that the court will return a favorable decision and plan to arrest Atiku as soon as the verdict is officially announced.


The Times of Nigeria gathered reliably that the Senate President, Ken Nnamani led PDP senators to the meeting which took place at 3:00pm. Others at the meeting include Olabode George, the minister of FCT, Nasir Rufai, among others.


A source who attended the meeting said the tone of the meeting was different from anything he has witnessed in the pasty as the President was more forceful and quite categorical in what he wanted to do.


"The meeting turned out to be unexpectedly stormy at the point the President began to speak on the things he wants to do, including the arrest and detention of Atiku in connection with seditious offences the moment the VP loses the case and is without immunity."


Obasanjo was said to have pointed out clearly that they will see "things that they had never seen in their lives." Some of the Senators confessed that they came away with the feeling that the President’s agenda could include the dissolution of the National Assembly and a possible declaration of a National State of Emergency.


The Senators were concerned that the President had entered a “mode” that was strange and unknown to them; one that could be dangerous to the democratic health of the nation.


“We have confidence in the judges of the Appeal court. We are confident that they will not allow themselves to be intimidated by the President and that they will go by the evidence before them in making their ruling. These judges have shown in previous cases that they have integrity and cannot be bought or intimidated.” Spokesman to the Vice President, Garba Shehu told The Times of Nigeria.

Last Updated ( Saturday, 17 February 2007 )

Sortman, yes, most are. None-the-less, the web site just posted it recently.

ND9

Emeka Offor mentioned 2/12/07 article

Politics and Political Godfatherism
By Samuel U Togbolo
mfyai@yahoo.com
February 12, 2007

--------------------------------------------------------------------------------

Politicians in Nigeria should wear a human face in pursuing their political ambition. Politics in Nigeria has become an investment where the investors are set to make profit at all cost, as a result, political brutality is pervading the society. This set of politicians has been in their usual status quo since our democratic dispensation. The mirage is a holocaust that is grinding our political system; their political diagnosis is imperative. When in recent times, In turning up the political computer of politicians; I browse through their profiles, I saw infected files which cannot be diagnosed, the corrupt nature of these files is not responding to anti-virus, I tried scanning the computer, yet the computer is neither ready for scanning nor want to crash. We need a political virologist to scan our political computer. The quest to hold on to power by these politicians as our foremost leaders is on the increase; their enthusiasm is as constant as K is constant in Mathematical Variables. Their political bruhaha, political gbagha, political oppression and political victimization are on a high frequency. Every politician wants to become a political godfather. Godfather, is as old as politics itself, godfather is even in the church, in the case of Christian dom, the godfather assists the godson to attain the level of a responsible person in the society. In other words, he teaches the godson the norms and values of the society and inculcates in him a better character.
Meanwhile, political godfather is another ball game all together; it is the opposite. The political godfather usually brings the political godson to the lime light of politics. He (godfather) introduces him (godson) to the people that matters. However, the godson having successfully clinched the seat with the support of their godfather, quietly wants to sideline their political godfather. This maybe, as a result of over lordship, by their godfather, wanting to dominate the Government; giving directives and controlling the administration.

The Fourth Republic in Nigeria has witnessed these ugly trends from inception soon after the Governors were swear-in in 1999. The political actors and their estrange political godfather were in the verge of contending who is who in their state. Prominent among the warlords in the states are Senator Modu Ali Sheriff vs Governor Mala Kachalla of Borno; Dr. Olusola Saraki vs Governor Mohammed Lawal (Kwara State); Senator Jim Nwobodo vs Governor Chimaroke Nnamani (Enugu State); Chief Emeka Offor vs Governor Chinwoke Mbadinuju (Anambra State); and Alhaji Abubakar Rimi vs Governor Rabiu Kwankwaso of Kano State. These are various political godfatherism syndrome in most states in Nigeria, while other states are reconvening, settling their differences and reshaping their polity in a democratic direction, Anambra State actors and boss are bent on saddling the people with a truncating government. Indeed the people of Anambra state have not reap from democracy.

The political tussle in Anambra state started with Governor Mbadinuju and Emeka Offor. What appeared to be a minor disagreement between Governor Chinwoke Mbadunuju and Chief Emeka Offor who reportedly bankrolled Mbadinuju's governorship ambition, later turned out to be a major face-off, which threatened the soul of the state. The crises eventually hamstrung the governor and in the process, he incurred the wrath of other segments of the state.

The situation was worsened by his inability to regularly pay civil servants and teachers who were owed for nearly a year. This led to a strike action by the workers. As a result, the Anambra State chapter of the Nigerian Bar Association (NBA) became critical of the governor and gave him an ultimatum to pay salary arrears or resign forthwith. In the process of the agitation, the chairman of Anambra NBA was assassinated along with his wife.

Governor Mbadinuju made the people of Anambra state to experience demonstration of craze instead of democracy. The education system was a mess, social life and basic amenities were not met for the people of the state, the street of Onitsha was littered with rubbish and abject neglect, Mbadinuju did not put the people to heart rather he concentrated on his political godfather. Mbadinuju should not think of vying for any political position for now. What fathom Mbadunuju and Offor have to give in destroying the future of some youths during his administration; youths that were involved in making cheap money by hawking on the streets when they where supposed to be in school. Mbadinuju and Offor should apologise to the people of Anambra state for hijacking the democratic process during his (Mbadinuju) regime and beg for forgiveness like Chris Uba for rigging election.

The vicious circle has being on the foist since the inception of Governor Chris Ngige and is estranged political godfather Chris Uba, Why is it that Anambra state don’t want to learn from its past mistakes, there is a saying; “ it is better to learn from your mistake” mistake is bound to happen, the ability to learn out of the mistake and act positively makes it productive.

The tussle between Gov. Chris Ngige and Chris Uba has cost the state a lot of destruction of Government property, that were built with taxpayer’s money, the scenario was clear as the people behind the scene were known and nothing has been done. The crisis has caused a lot in the polity of the nation and People’s Democratic Party (PDP) in particular. The said crisis led to the resignation of the party former chairman Audu Ogbeh that led to the appointment of the current chairman Ahmadu Ali. The first assignment by the current chairman was the expulsion of the duo from the party, could this solve the problem? Chris Uba is pitching tent with the party elders to remove Ngige from Government house. While the embattled Governor is trying to impress the people of Anambra state with developmental projects that will better the life of the people. In a discussion, I had with one “Anambarian”, he said “ Ngige has tried, continuing, successive government has not been able to do what Ngige has done, the embattled Governor has tarred the road to our village, schools are in section and to compliment issues, salaries are paid promptly amidst the crisis” with this statement, one will be convinced, that the people do not have any grudge against the governor (Ngige).

Anambra State, which happens to be an industrial state, has been perturbed with godfatherism syndrome, a canker warm that has eaten deep into the polity and economic situation of the state. I enjoined the “Anambarian” to watchout carefully ahead 2007 to rid the polity of the state from claws of godfatherism. Godfatherism is one of the pandemic that is endangering our polity. It compels elected official to siphone funds made for public infrastructural development to private accounts, thereby jeopardizing and mortgaging the future of the citizens; Nigerians should resist this ugly trend.

As Nigerians, we are saddled with the collective responsibility of effecting change in the politics of our nation. We believe in change that is inevitable. Some school of taught, sees politics as a dirty game, while others believe politics in Nigeria as a dirty. Idealist believe that, in as much as Nigeria politics is dirty or what ever it’s being called; envelop with greed, and self aggrandizement, there will always be a positive change and a better future for our country, Nigeria. Why is it that, in Nigeria, politics is called dirty game? Can’t we change it with all urgency? We should suggest and make a forum to liberalize the political ingrate and kleptomania from the state of political alsoran.

Nigerians are ambitious to seeing a resurrected economy that will define the truthfulness and oneness of our bedeviled society. We have been patience, ambivalent in response to issues, politically, socially and economically. Our amity in the face of this stress, travail and anguish will redeem us from the evil geniuses (Dubious politicians)
http://www.amanaonline.com/Articles/art_1038.htm

mfya@yahoo.com

OT: Dubai to Houston, 17 hr flight

Emirates to add Houston as latest US destination
Feb 14, 07 | 3:14 pm

By Aftab H. Kola
MUSCAT, Oman (eTN) - United Arab Emirates’ national carrier, Emirates, announced it is begin services to Houston, Texas, its second destination in the United States, starting December 3.
Emirates said the non-stop service between Dubai and Houston will be initially three times a week, increasing to a daily service from February 1 2008.

Emirates will fly its Boeing 777-200LR on the route, offering 266 seats in a three-class configuration and up to 18 tonnes of cargo capacity.

“We believe there is a strong and growing demand for convenient air travel connections between the USA and cities in the Middle East and Indian subcontinent, as illustrated by the success of Emirates’ services to New York JFK,” Emirates Airline boss Ahmed bin Saeed Al Maktoum said.

He added: “It has been our intention to expand our presence in North America and the delivery of our new 777-200LRs aircraft later this year will enable us to operate these ultra long-haul routes, while providing our passengers with the latest comforts and amenities onboard. We very much look forward to starting services to Houston, our second gateway in the USA.”

Emirates’ new non-stop service will provide customers in the Middle East and Asia with direct access to the fourth largest city in the US. Houston is a hub for the country’s oil and energy-related industries, and one of the largest international gateways into the US.

When launched, the Dubai-Houston non-stop service will also be Emirates’ longest flight, clocking 17 hours flying time to North America, while the shorter return journey will be at just over 15 hours.

On the Dubai-Houston route, 777-200LR aircraft will offer the latest in-flight amenities. Designed for optimum comfort on ultra long-haul travel, it will be fitted with eight luxurious private suites in First class, 42 of its latest lie-flat seats in Business class, and generous space for 216 passengers in Economy class.

Emirates will also operate the flight with two crews onboard, to ensure passengers receive the highest levels of service and care throughout the journey.

Warning about Nigeria shakes the oil markets
Feb. 16, 2007, 11:46PM

By EDWARD HARRIS
Associated Press

TOOLS
Email Get section feed
Print Subscribe NOW
LAGOS, NIGERIA — The U.S. consulate warned Friday that Nigerian militants may be planning to expand their activities beyond the country's restive oil-producing southern regions.

Crude prices in New York rose more than $1 to settle above $59 a barrel, in part because of worries over the consulate's statement.

The warning by the U.S., which receives more than 10 percent of its crude imports from Nigeria, said an unnamed militant group is "reportedly planning to escalate its activities in regions beyond its previous primary target areas" in the southern Niger Delta region where Nigeria's oil is pumped.

"Possible targets could include expatriate personnel, Western businesses or facilities and locales visited by tourists and foreigners in other regions of Nigeria," the Lagos-based consulate said in a statement.

It gave no details on any impending attacks and did not specify the potential militant "activities."

The main militant group in the Niger Delta did not immediately answer a request for comment.

On Friday at the New York Mercantile Exchange, light, sweet crude for March delivery rose $1.40 to settle at $59.39 a barrel after dipping as low as $57.59 earlier in the session.

Besides the Nigeria warning, Citigroup Futures Research energy analyst Tim Evans said traders were taking a second look at natural gas inventory numbers released Thursday.

Last week's withdrawal of 259 billion cubic feet from storage was short of some analysts' expectations, but it was the biggest since 1997, he said.

Natural gas prices rose 21.1 cents to $7.503 per million British thermal units, and heating oil prices rose 4.63 cents to $1.6734 a gallon.

Gasoline futures rose 4.81 cents to $1.6453 per gallon.

Brent crude rose $1.35 to $58.95 in London.