HOPE SPRINGS ETERNAL

CONFIDENCE positively oozed from Mocambique's Minister of Mineral Resources when she announced this week that a US$68-million oil exploration research tender would be issued before the end of September. According to Engineering News (still the only newspaper worth reading on energy matters) the contract would cover either the southern Inhambane province or the Rovuma Basin. The Minister wants results "by December" -- which should scare off any chancers, Spigot supposes. The Minister rather breathlessly told Reuters," If we find oil today, we need to start production and we can only talk of consumption in 2014, and depending on the quantity, we will also export it." Right. Think positive. The Minister added, "We are receiving a lot of interest from multinational companies, but given the size of the country, which is very big, we will decide on the company that can give us results by December, which will be either from South Africa, Brazil or the United States of America." And who are these multinationals? Why those well-known oil giants, Canada's Artumas Group Inc, the U.S.-based oil firm Anadarko Petroleum Corp, Petronas of Malaysia and Italy's ENI. Note, none of the former seven sisters. Oh, well. Here's hoping, anyway.