Word: cabinda
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...February 4, the infuriated Portugese retaliated with a random massacre of Africans. By March there was a revolt led by another nationalist organization, the UPA, among the black peasants in the northwest of Angola, and liberation forces took control, of more than one third of the country, including the Cabinda enclave, where Gulf Oil Corporation had been making drilling explorations since...
THERE ARE thirty American corporations now operating in Angola. The largest enterprise is that of the Gulf Oil Corporation, whose Cabinda exploration-disrupted in 1961 by the popular uprising-has paid off very handsomely. In 1966, huge reserves of high quality oil were discovered, and by 1971, production had reached 150,000 barrels per day. Gulf had invested $150 million in exploration, construction and production outlays, and is now considering building a $100 million deep water port to service the oil fields...
...Board members of Gulf Oil are not stupid. They knew from the first that there would be public opposition to their economic links with the Portugese colonialists. They went ahead because, in the words of Cabinda Gulf manager Robert F. Ward, the Cabinda oil strike is "one of the major growth areas of the Corporation." The Cabinda fields are estimated to have reserves of at least 300 million tons, and they will gush at the rate of 150,000 barrels a day for forty years. And given the low labor costs if Portugese rule continues, that will...
Gulf has rewarded Portugal quite dearly for the Cabinda concession. According to a "Working Copy" of the Cabinda Gulf contract of 1966, as amended in 1969 and 1971, which was submitted to a United Nations investigating committee, payments to Portugal totalled $11 million in 1969, rose to $16 million in 1970, and are projected by United Church of Christ officials to rise to between $33 million and $50 million this year...
...added-as did several Harvard authorities on Africa-that there has been little military activity in the Cabinda region. Neither the State Department nor Gulf's public information officer, however, had any comment on the reported $20 million figure for the royalty payments...