1. Most Discussed
  2. Gainers & Losers

re: African Vs Mideast Oil.Nigeria,any Aussie comp

  1. cheech

    831 Posts.

    It is likely that the article or gossip meant to allude to the US decision to continue with its diversification programme for purchasing crude which it launched in 1970 after the great oil shock.

    There is no major change to US policy with Saudi Arabia which may as well be Arabic for Aramco. They virtually own the place including the house of Saud and the current lineage of Fahad and his brothers who are the other half of Faisal's second wife.

    Ret. Maj. Gen. Ogbasanjo is about the most stable of Nigerian leaders the country has seen in its long chequered history. He has the support of the Muslims and Christians and other sects in the country. Obasanjo is also respected by the army factions and has enlisted US support to streamine and to add a greater deal of professionalism in its armed forces officer corps.

    The public service has also been outsource for the past two years now and the results are certainly although not near our standards, far better than what it used to be.

    Oil in the African continent is now a hot issue. The Canadians have sold out their concession for US$750 million to Indoan's ONGC (oil and natural gas corporation) who consider it a bargain.

    Their position is that if Assam where they have a large number of gas and oil wells could be profitable even though 7 of their executives were murdered by rebels this year alone, Sudan cannot be all that bad.

    Nigeria will always be risky because of the fractious nature of tribal politics and the greed of outsiders for their oil. Together they make a volatile combination.

    Remember the US also still buys from Libya even if through Rotterdam. Iraki and Iranian oil also go to the USA. Nothing changes except money from one hand to the other. In God We Trust. All others pay cash!!

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.