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BUSINESS
June 10, 1987 | MARK POTTS, The Washington Post
When oil giant Chevron Corp. bought Gulf Corp. in 1984 for $13.2 billion, it acquired 1.8 billion barrels of oil, 3.8 trillion cubic feet of natural gas, 42,000 employees and a political headache. Included in Gulf's assets were rights to promising oil fields in the African nation of Angola. Gulf first discovered oil in Angola 20 years ago, and the nation is considered one of Africa's key non-OPEC suppliers.
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BUSINESS
August 10, 2007 | From Bloomberg News
Chevron Corp., the second-largest U.S. oil producer, said Thursday that it made a "significant oil discovery" off the coast of the West African country of Angola. The Malange-1 well produced 7,669 barrels of oil a day in a test in March, the San Ramon, Calif.-based company said. Additional drilling is needed to estimate the discovery's reserves, it said.
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NEWS
June 1, 1991 | SCOTT KRAFT, TIMES STAFF WRITER
The historic accord signed Friday to end the 16-year civil war in Angola is no ticket to peace and prosperity, but it offers the first glimmer of hope for democracy and economic recovery in what has been one of Africa's most troubled nations. "There are a lot of things that can still go wrong," said Gerald J. Bender, an international expert on Angola at USC. "But, basically, it's going to be surprisingly smooth for a country that just fought a long civil war."
BUSINESS
October 8, 1991
Fortune Petroleum Corp., an Agoura Hills-based energy concern, said it has entered into an agreement with Sonangol, the national oil company of Angola, to market and sell data about oil and gas basins in that country. Under the terms of the agreement, Fortune will have the right to market the data for 10 years, and proceeds from the sale of the data will be split between Fortune and Sonangol. Fortune acquired the data in 1987 for an undisclosed price.
BUSINESS
October 8, 1991
Fortune Petroleum Corp., an Agoura Hills-based energy concern, said it has entered into an agreement with Sonangol, the national oil company of Angola, to market and sell data about oil and gas basins in that country. Under the terms of the agreement, Fortune will have the right to market the data for 10 years, and proceeds from the sale of the data will be split between Fortune and Sonangol. Fortune acquired the data in 1987 for an undisclosed price.
BUSINESS
August 10, 2007 | From Bloomberg News
Chevron Corp., the second-largest U.S. oil producer, said Thursday that it made a "significant oil discovery" off the coast of the West African country of Angola. The Malange-1 well produced 7,669 barrels of oil a day in a test in March, the San Ramon, Calif.-based company said. Additional drilling is needed to estimate the discovery's reserves, it said.
BUSINESS
October 10, 1991 | From Times Staff and Wire Reports
Fortune Oil, Angola Enter Data Agreement: Fortune Petroleum Corp., an Agoura Hills-based energy concern, said it has entered into an agreement with Sonangol, the national oil company of Angola, to market and sell data about oil and gas basins in that country. Under the terms of the agreement, Fortune will have the right to market the data for 10 years, and proceeds from the sale of the data will be split between Fortune and Sonangol. Fortune acquired the data in 1987 for an undisclosed price.
BUSINESS
September 15, 1992 | From Times Staff and Wire Reports
Occidental to Explore for Oil in Angola: Occidental Petroleum Corp. said it has agreed with Angola's national oil company to explore for oil in a hydrocarbon-rich 938-square-mile area of the West African Salt Basin. The Los Angeles-based company will operate the venture in the Cabinda North Block, with a 35% interest. Other interests are held by Teikoku, a Japanese company, 25%; Neste Oy, the Finnish national oil company, 20%; and Sonangol, Angola's national oil company, 20%.
WORLD
August 10, 2009 | Times Wire Reports
Secretary of State Hillary Rodham Clinton, bringing her democracy and development tour of Africa to oil-rich Angola, encouraged the war-ravaged country to continue reforms and pledged to boost trade ties with the major energy producer. Clinton, on the third leg of a seven-nation trip, came to Luanda, the Angolan capital, to reinforce America's presence in a country where it is increasingly competing for resources with China. Beijing has given Angola billions of dollars in loans in recent years without pressing for reforms.
BUSINESS
October 27, 1986 | DONALD WOUTAT, Times Staff Writer
A watered-down item in the defense spending bill that bans Pentagon purchases of crude oil from Angola will create only a few technical problems for Chevron, the biggest producer in that Marxist-led nation, the company says. The provision in the $290-billion bill prohibits the Pentagon from buying Angola-derived petroleum products from a company that produces products there. That leaves Chevron free to sell any other oil to the Defense Department, a spokesman said.
NEWS
June 1, 1991 | SCOTT KRAFT, TIMES STAFF WRITER
The historic accord signed Friday to end the 16-year civil war in Angola is no ticket to peace and prosperity, but it offers the first glimmer of hope for democracy and economic recovery in what has been one of Africa's most troubled nations. "There are a lot of things that can still go wrong," said Gerald J. Bender, an international expert on Angola at USC. "But, basically, it's going to be surprisingly smooth for a country that just fought a long civil war."
BUSINESS
June 10, 1987 | MARK POTTS, The Washington Post
When oil giant Chevron Corp. bought Gulf Corp. in 1984 for $13.2 billion, it acquired 1.8 billion barrels of oil, 3.8 trillion cubic feet of natural gas, 42,000 employees and a political headache. Included in Gulf's assets were rights to promising oil fields in the African nation of Angola. Gulf first discovered oil in Angola 20 years ago, and the nation is considered one of Africa's key non-OPEC suppliers.
BUSINESS
December 1, 2006 | Elizabeth Douglass, Times Staff Writer
Fast-growing oil producer Angola, along with Ecuador and Sudan, may join OPEC, an expansion that would bolster the cartel's influence over oil prices worldwide. Officials in Angola and Sudan said Thursday that the African nations planned to apply for membership in the 11-nation Organization of the Petroleum Exporting Countries. That follows a similar declaration this week by Rafael Correa, the newly elected president of Ecuador, a former OPEC member that left the group in 1992.
BUSINESS
September 20, 1990 | PAUL AMES, ASSOCIATED PRESS
After 15 years of an economically devastating civil war, oil-rich Angola may find itself on the winning end of the conflict in the Persian Gulf. The southwestern African nation derives 90% of its export earnings from oil production, and experts say the recent run-up in crude prices on worldwide markets could bring a windfall in profits. The light crude from Angola's oil-producing center in Cabinda province already has risen to as much as $32 a 42-gallon barrel since the Aug.
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