AGL 37.01 Decreased By ▼ -0.99 (-2.61%)
AIRLINK 132.60 Decreased By ▼ -4.09 (-2.99%)
BOP 5.51 Increased By ▲ 0.09 (1.66%)
CNERGY 3.79 Decreased By ▼ -0.04 (-1.04%)
DCL 7.48 Decreased By ▼ -0.11 (-1.45%)
DFML 44.81 Decreased By ▼ -1.24 (-2.69%)
DGKC 81.20 Increased By ▲ 0.85 (1.06%)
FCCL 28.65 Increased By ▲ 0.62 (2.21%)
FFBL 54.75 Decreased By ▼ -0.46 (-0.83%)
FFL 8.55 Decreased By ▼ -0.03 (-0.35%)
HUBC 107.90 Decreased By ▼ -4.75 (-4.22%)
HUMNL 13.56 Increased By ▲ 1.23 (9.98%)
KEL 3.81 Decreased By ▼ -0.04 (-1.04%)
KOSM 7.04 Decreased By ▼ -1.03 (-12.76%)
MLCF 36.25 Increased By ▲ 1.14 (3.25%)
NBP 67.30 Increased By ▲ 1.30 (1.97%)
OGDC 169.49 Decreased By ▼ -1.67 (-0.98%)
PAEL 24.88 Decreased By ▼ -0.30 (-1.19%)
PIBTL 6.15 Decreased By ▼ -0.05 (-0.81%)
PPL 130.70 Decreased By ▼ -2.15 (-1.62%)
PRL 24.50 Increased By ▲ 0.10 (0.41%)
PTC 15.77 Increased By ▲ 1.25 (8.61%)
SEARL 57.80 Decreased By ▼ -1.15 (-1.95%)
TELE 6.99 Decreased By ▼ -0.10 (-1.41%)
TOMCL 34.73 Decreased By ▼ -0.27 (-0.77%)
TPLP 7.70 Decreased By ▼ -0.39 (-4.82%)
TREET 13.96 Decreased By ▼ -0.34 (-2.38%)
TRG 44.25 Decreased By ▼ -1.34 (-2.94%)
UNITY 25.15 Decreased By ▼ -0.84 (-3.23%)
WTL 1.18 Decreased By ▼ -0.02 (-1.67%)
BR100 9,082 Decreased By -1.8 (-0.02%)
BR30 27,380 Decreased By -251 (-0.91%)
KSE100 85,483 Increased By 30.2 (0.04%)
KSE30 27,160 Increased By 10.7 (0.04%)

Venezuelan President Hugo Chavez has offered his country's oil expertise to Angola, sub-Saharan Africa's No 2 crude producer, in a strategy to boost ties with what he calls "Mother Africa" and counter US influence there.
In his first visit to Angola on Thursday, the Venezuelan leader witnessed the signing of a bilateral oil co-operation accord between his country, the world's fifth largest oil exporter, and one of Africa's fastest growing producers.
The agreement, signed by the respective oil ministers, foresees co-operation in all aspects of the oil and gas industry, including possible joint production and refining projects, according to a copy of the text sent to Reuters.
The text said the accord could be implemented through the respective state oil companies, Venezuela's PDVSA and Sonangol. Venezuelan Oil Minister Rafael Ramirez said the accord would allow PDVSA to work for the first time in Africa, where US and European oil companies have dominated for years.
Chavez, a firebrand anti-American populist, said in a speech in Luanda the strengthening of ties with Angola was part of his strategy to boost South-South co-operation and counterbalance US influence in the world.
"It's absolutely a lie that the destiny of the world has to be signed off by Washington. The world belongs to all of us, there isn't a policeman of the world who has to hold our hands," Chavez said, elaborating on one of his favourite themes.
He said Venezuela was opening an embassy in Angola. The Latin American oil producer had established diplomatic ties with 11 states in Africa in the last 15 months.
"We love Mother Africa," Chavez said, recalling that descendants of African slaves had helped in the fight to achieve Venezuela's independence from Spain.
Although Venezuela remains a major oil supplier to the US market, Chavez has made a point of signing political and energy alliances across the world - with Cuba, Iran, Russia and China - to challenge what he denounces as US "imperialism".
Angolan President Jose Eduardo dos Santos praised what he said were Chavez's efforts to use Venezuela's oil to promote social justice at home and a fairer world economic order.
Chavez, in particular, has been spearheading a resurgence in resource nationalism, in which crude producers, spurred on by high world oil prices, have been seeking to wrest better terms and more control from Big Oil multinational companies.

Copyright Reuters, 2006

Comments

Comments are closed.