Brazilian company to rebuild crucial Angola dam

(Reuters) - Brazilian company Odebrecht is set to rebuild a crucial hydroelectric dam in Angola, raising hopes that foreign investment will boost an electricity industry battered by civil war, a state official said on Thursday.

The $158 million, 20-month project approved by the Angolan cabinet on Wednesday, has raised hopes that businesses in the southern region stand to benefit from investment.


Read more at Reuters Africa

Crude Oil Falls From 11-Month High as Refiners Open Plants, Boost Output

(Bloomberg) -- Crude oil fell from an 11-month high
in New York on speculation that U.S. fuel stockpiles will
increase because refineries are opening units.

Exxon Mobil Corp., BP Plc and Valero Energy Corp. started
units at refineries in Texas over the past week. Prices rose 2.2
percent this week after the Energy Department reported that U.S.
fuel stockpiles declined last week as gasoline demand increased.
Total SA said it restored normal output from an oil field in
Angola after cutting production to make repairs.


Read more at Bloomberg Commodities News

Zambia to offer 25 oil, gas blocks in tender - finmin

(Reuters) - Zambia plans to offer 25 blocks for oil and gas exploration in a bidding round for international companies in the next few weeks, the finance minister said on Thursday.

The bidding round, Zambia's first, follows an announcement in October last year that the landlocked southern African country had discovered oil and gas reserves in the northwest of the country bordering oil-producing Angola.


Read more at Reuters Africa

Colorado, Utah Rival OPEC Reserves, Lure Shell, Chevron, Exxon With Shale

(Bloomberg) -- Colorado and Utah have as much oil as
Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya,
Angola, Algeria, Indonesia, Qatar and the United Arab Emirates
combined.

That's not science fiction. Trapped in limestone up to 200
feet (61 meters) thick in the two Rocky Mountain states is
enough so-called shale oil to rival OPEC and supply the U.S. for
a century.


Read more at Bloomberg Exclusive News