Cnooc, Gazprom eye Tanzania oil and gas blocks

Cnooc (CEO) and Gazprom (OGZPY) appear to be the front-runners among international companies that have submitted bids to develop Tanzania's lucrative gas and oil blocks.

Cnooc, which is already developing the kingfisher oil field in neighboring Uganda, will compete with Statoil (STO) and Exxon Mobil (XOM) for block 4/3A off Tanzania's southern coast; Gazprom is the sole bidder for block 4/3B.

STO and XOM already have teamed up in several discoveries in Tanzania, and STO and BG Group (BRGYY, BRGXF) are planning to build the first liquefied natural gas plant in the country.

From other sites
Comments (2)
  • User 353732
    , contributor
    Comments (5166) | Send Message
    The Sino-Russian energy axis will become a formidable force in the energy industry over the next 25 years in both Africa and Latin America.
    If the US Regime had any strategic and moral sense it would seek to create a counter Indo-US alliance but instead it will alienate India further while thwarting Canada and denying both Europe and Japan access to much needed US natural gas and crude supplies. Russia is playing a weak strategic hand competently while the US is playing a strong strategic hand incompetently.


    Maybe Canada and India will form an energy alliance. Both nations need each other and both have been betrayed by the US.
    22 May 2014, 01:02 PM Reply Like
  • Choosh
    , contributor
    Comments (610) | Send Message
    In countries where contracts mean little the motivation to extort will grow rapidly as the fields get productive. Bribery can keep that in check, China and Russia are "sophisticated" enough to allow their companies to do that.
    22 May 2014, 02:34 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs