HRT Participacoes em Petroleo SA, the Brazilian oil explorer that failed to find commercially viable deposits in Namibia, is looking for partners to continue exploration in the southern African nation.
OPEC, which supplies 40 percent of the world’s oil, will accommodate additional output from members Iraq, Iran and Libya, Secretary-General Abdalla El-Badri said, without explaining how it will do so under the group’s ceiling.
Economic growth in sub-Saharan Africa is forecast to accelerate to 5.2 percent this year, driven by increasing investment to exploit the region’s natural resources and develop infrastructure, the World Bank said.
SBM Offshore NV, the Dutch supplier of floating oil production platforms, said an internal investigation found no credible evidence of improper payments made to Brazilian government employees from 2007 through 2011.
Planned tax changes in Angola, Africa’s second-largest oil producer, are hindered by inaccurate budget targets and perceptions the measures will hurt the economy, the Christian Michelsen Institute said.