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Vol 48 No 2

Published 19th January 2007

Gushing higher

Although oil prices are heading downwards, investors and explorers resolutely talk up Africa's energy prospects

A shakeout in Africa's oil and gas industry is in prospect this year with drilling planned to test new plays from Kenya to Guinea-Bissau, along with a wave of consolidation amongst smaller companies. Asian companies scrambling to secure future energy reserves pledged silly money for blocks in Angola's licensing round, even though much of the acreage consisted of areas relinquished by the supermajors.

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