Angola, Africa’s second-largest crude oil producer, is targeting sugar self-sufficiency as Brazil’s Odebrecht SA starts harvesting from a plantation the size of Manhattan, Brooklyn and The Bronx combined next year.
Agriculture in Angola, once the world’s fourth-biggest coffee producer, is being held back by limited competition and processing facilities and a lack of cooperation among small-scale farmers, the head of the National Cereals Institute said.
Angolan President Jose Eduardo dos Santos has picked Manuel Vicente, chairman of state-owned oil company Sonangol EP, as his successor, weekly newspaper Novo Jornal reported today, citing an unidentified person in the ruling party.
Cobalt International Energy Inc., the offshore oil explorer backed by Goldman Sachs Group Inc., says it’s committed to developing oil prospects in Angola’s pre-salt basin after the government said it was free to leave.
The Obama administration and European governments are seeking help from Arab and Asian allies to reduce Iran’s oil revenue in the dispute over its nuclear program, while trying to avoid causing a surge in prices that may threaten the global economic recovery.