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Etymologies
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Examples
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Camac Energy is higher today after the company announced that it may be able to recover more crude than its previous estimate from an area off of Nigeria.
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However, the United States-based oil company Camac last week
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However, Camac was unable to attract enough local support for the project, and had to withdraw at a significant loss.
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Camac had previously intended to use it as a vehicle for the relocation of its refinery from the US to South Africa to create capacity in South Africa to process Nigerian crude oil.
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In Nigeria, Camac - with major oil companies - had made investments in oil exploration and production in excess of
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If he was approached by SAOC (Cayman Islands), or even Camac, the United States-based parent of the SAOC, Mbeki was still not off the hook, he said.
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Camac owned 49 percent of this firm, but said the company was dormant.
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The newspaper wrote that a lucrative Nigerian crude oil contract destined for the South African government was taken up by SAOC, an affiliate of Camac.
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Camac, has described the deal as a private one, saying it was never intended to benefit South Africa.
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"Apart from the fact that there is no capacity in South Africa to process Nigerian oil, it is the NNPC's practice, as far as Camac is aware, to extend contracts only to private upstream oil operating companies, oil trading companies and oil refinery owners," the statement said.
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