• 4 minutes THE GREAT OIL PRICE PREDICTION CHALLENGE OF 2018
  • 9 minutes Time For Reaction: Trump Presses OPEC to Reduce Prices as Crude Trades Near $80
  • 15 minutes Nothing new in Middle East? Iran Puts On 'Show Of Strength' Military Exercise In Gulf
  • 4 hours Global Hunger Continues to Grow Driven By Climate Change
  • 13 hours So about that psychological oil price ceiling of $80 ... Trump's Twitter sledgehammer is right on cue, again
  • 8 hours China Tariff Threatens U.S. LNG Boom
  • 6 hours Toyota Agreed To Add Android Auto To Its Vehicles
  • 8 hours Big Oil Costs Can't Go Much Lower
  • 18 hours So oil touched $80! (WTI break $71 twice). What does the future hold?
  • 12 hours Transition Time: Volkswagen Announces "Electric for All" Campaign
  • 17 hours WTI now at $70+ headed for $50s
  • 50 mins A Buffett-type Solution and Canada's Problem
  • 7 hours Google And Facebook Lead Digital's March To Half Of The U.S. Ad Market
  • 1 day Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 13 hours Tesla 'Headed For The Graveyard'
  • 8 hours As EU Divisions Deepen, Macron Stakes Out Electoral Turf
Why Oil Markets Can’t Escape OPEC, Russian Influence

Why Oil Markets Can’t Escape OPEC, Russian Influence

OPEC and their Russia-led non-OPEC…

U.S. Shale Oil Production Beats Estimates Again

U.S. Shale Oil Production Beats Estimates Again

U.S. shale oil production is…

More Angolan Soldiers Reportedly Killed in Oil-Rich Cabinda Area

More Angolan Soldiers Reportedly Killed in Oil-Rich Cabinda Area

At least ten Angolan soldiers were killed during the last clash with the Front for the Liberation of the Enclave of Cabinda (FLEC) in the oil-rich Cabinda enclave, according to information from the separatist guerillas.

Nearly forty combatants have died in a flare-up of violence after exiled FLEC founder Nzita Tiago passed away on 3 June at the age of 88.

According to a FLEC statement, the confrontation took place last Friday and Saturday in the Cabinda area where the rebels have sought independence from Angola.

The rebels previously claimed to have slain twenty-six soldiers during battles from 29 July to the 31 July. Following those incidents, the FLEC warned foreign workers to leave Cabinda since their lives were in danger. The guerillas reiterated those demands in a communiqué issued on Monday when they urged relocation of Chinese workers whose presence allegedly “constitutes a provocation.”

The Angolan government has thus far failed to comment on the latest combats between the military and the FLEC. Despite the uptick in violence in the latest two months, Cabinda state Governor Aldina Matilde Barros Da Lomba recently stated that there is no armed conflict or war in the region.

The plummeting price of oil has led to a bust for an Angolan country that earns approximately 45 percent of its gross domestic product from gas and oil. Angola’s economic crisis resulting from plummeting revenue has exacerbated the stark wealth gap in the nation and led to strong cutbacks in basic social services.

The Angolan economy is expected to continue facing obstacles and a “bleak year ahead”, based on a pessimistic analysis by Platts in July.

By Erwin Cifuentes for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News