- A Vietnamese national oil and gas Group, PetroVietnam has struck two deals to boost oil and gas cooperation with Sudan and Angola.
Sudanese officials said PetroVietnam signed a cooperation agreement with the Sudan Petroleum Corporation (Sudapet) to explore oil and gas in the country. Both sides agreed to discuss the detail in January 2010.
The agreement, signed during a visit to Sudan by senior executives from PetroVietnam, will also enable both firms to expand their operations in a third country in Africa.
The Group is also expected to sign an agreement with the Angola Petroleum Corporation (Sonnagol) to expand investment in exploring oil and gas. With a reserve of 9 billion barrels of oil and gas and an output of 1.9 million barrels/day, Angola is the third largest oil exporter in Africa, after Nigeria and Libya.
PetroVietnam Deputy Director Nguyen Van Minh said the agreements are part of our plan to expand oil and gas exploration and production to Africa. "We are also focusing on expanding investment in oil and gas projects in other countries, especially in Russia and South America," Mr Minh said.
Although many details of the projects remained unclear, many analysts said it is only a matter of time before Vietnam's oil company tries to become a more important competitor in the global energy markets.
PetroVietnam said it has so far joined more than 20 oil and gas exploration and production projects abroad, including in Algeria, Iraq, Peru, Iran, Myanmar and Venezuela. Many were signed during the past 12 months.
PetroVietnam has signed another gas exploration with Mozambique earlier this month.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español