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South Africa to seek oil from African countries

South Africa will explore ways to source its oil from other African countries in a effort to cope with spiralling global prices.

Reports say Energy Minister Phumzile Mlambo-Ngcuka disclosed during her department's presentation to Parliament's joint budget committee, that her department would join the Association of African Oil Producers.
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Mlambo-Ngcuka reportedly said that although oil pricing was international she would also explore the possibility of influencing African countries to supply oil to fellow countries on the continent at reduced prices.

"Even though we are a small producer, we are used to punching above our weight. We can make our voice count."

Editorial Notes: Story of interest because of push for outside-market arrangements for oil supply; an increasing number of countries are showing interest in non-global-market deals (Venezuela-Cuba being best example ), which fractures the assumptions of market economists everywhere. -LJ

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