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Vol 41 No 24

Published 8th December 2000


Luanda looks to Norway

Angola's go-slow on the development of its massive offshore oil fields is sending ripples through the world's biggest oil companies, worried about lower investment returns and profits. Luanda's new strategy follows the 'Norwegian model': it means slowing down the billion dollar oil projects to husband reserves and giving priority to developing an indigenous oil industry. Luanda will also stay at arm's length from the Organisation of Petroleum Exporting Countries.

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