ANGOLA

By Edward Tapamor Peak oil is a reality. It may take a generation for al the effects to be played out but they will be played out. They will never be solved by current economic thinking, because it was current economic thinking that caused it.

Oil edged back up above $97 a barrel in thin trade on Friday, buoyed by the unrelenting decline in the U.S. dollar, while some OPEC members showed signs of stepping up output ahead of their policy meeting in two weeks.

French oil giant Total posted a 3 percent drop in third-quarter adjusted net profit on Wednesday, despite higher oil prices and production, but the result beat forecasts and it maintained a key output target.

Oil slipped again on Tuesday extending a slide from record highs on concerns about the U.S. economy, a recovery in the dollar and indications OPEC has already substantially raised oil output in advance of November 1.

Oil held above $78 a barrel on Wednesday, close to its record high, after OPEC's modest output increase failed to allay fears over stock levels during the coming winter.

Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.

Oil was steady above $73 on Thursday after spiking two percent the previous day on an unexpectedly large drop in crude and gasoline stocks in top consumer the United States.

OPEC Secretary-General Abdullah al-Badri said on Tuesday that the subprime crisis in financial markets has made it very difficult for the group to gauge demand for crude but supply levels were adequate for now.

Oil steadied on Friday near $78 a barrel, supported by concern that rising demand will strain supplies already thinned by U.S. refinery glitches and output disruptions in Africa.

Oil resumed its march towards record highs on Thursday, climbing above $77 a barrel after a surprise drop in gasoline stocks in the United States and heightened supply concerns in Africa.

Nora Bannerman checks the pristine white uniforms made for American pharmacist Walgreens in her factory in the humid heart of the Ghanaian capital Accra.

Africa'S deepening engagement with Asia's two economic giants-China and India-holds enormous potential for economic growth in Africa, according to a new report by the World Bank, released September 9.

When Chinese investors bought struggling copper producer Chambishi Mining Plc, miners in this Zambian town gave them a heroes' welcome for averting its closure and for creating more jobs.

Resource Company BHP Billiton said on Tuesday it foresees great potential for a large discovery of diamonds in Angola as well as forming a partnership with the government.

A biofuel company will invest $1 billion to develop the biofuel sector in Africa, it was announced Tuesday.

Chinese Premier Wen Jiabao recently ended a seven nation tour of Africa on June 25 in a bid to improve economic, social and diplomatic ties between China and Africa.