Word: south
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Dates: during 2000-2009
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...Until recently, that change looked like it might never happen. Last summer, Iraq's government hosted an auction for eight large oil and gas fields at Baghdad's high-end Al-Rashid Hotel. There, oil executives from the U.S., Europe, Russia, China and South Korea paraded on stage and dropped their bids into a sealed box, in a ceremony broadcast live on Iraqi television. It was meant to be grand theater, but proved a p.r. failure for Baghdad. Just one bid succeeded: it was submitted by a partnership between Britain's BP and China National Petroleum Corp. (CNPC) for production...
...offer. In mid-November, Italian oil executives from ENI flew to Baghdad to sign a deal on Zubair, a southern Iraq field with about 4.1 billion barrels of reserves. ENI plans to pump about 1.1 million barrels a day from Zubair in partnership with California-based Occidental Petroleum and South Korea's Kogas. ENI was quickly followed by ExxonMobil and Royal Dutch Shell, which agreed to produce about 2.3 million barrels a day in another giant field called West Qurna. Combined with BP-CNPC's anticipated output from Rumaila, "those three fields alone would be about 6% of total...
...even some of the more modest predictions about Jacob Zuma's rise to power had been correct, South Africa would be an empty, corrupt dictatorship by now. Back in 2006, South African memoirist Rian Malan ended his dismal assessment of the nation's prospects ("Not civil war, but sad decay") in British magazine the Spectator by asking: "Anyone want a house here?" A year ago, Archbishop Emeritus Desmond Tutu said he was "deeply saddened" when Zuma staged a party coup against his predecessor Thabo Mbeki, "deeply disturbed" that both had used institutions of state in their struggle and warned that...
...were dropped) was fit for office. So many African liberation movements have gone from triumph to tyranny, hope to corruption. Even with the saintly figure of former leader Nelson Mandela in the wings, would Zuma and his party, the African National Congress (ANC), do the same? (See pictures of South Africa after 15 years of ANC rule...
...since his election in April, President Zuma has surprised. Seven months is not long enough to fix South Africa's problems - and Zuma hasn't. Violent crime, a yawning inequality which juxtaposes black millionaires with millions scraping by on less than $2 a day and the world's largest HIV/AIDS population continue to drag on the country. But whereas Mbeki stoked a national mood of frustration by denying such crises existed, Zuma concedes they are real and even accepts blame. "These challenges are based in reality," the 67-year-old told TIME in a rare interview. "And it's only...