Coastline Exploration - Somalia’s offshore basin potentially has multi- Billion barrel oil

[Prince of HS]

 

[Cartan Boos]

either they gonna scam us like nigeria or we will be lucky like the middle eastern countries

 

[bidenkulaha]

either they gonna scam us like nigeria or we will be lucky like the middle eastern countries

Nigeria isn’t scammed. They make a lot of revenue from it for their 1.8 million b/pd but they have no refinery within the country so the profit margins that for example Saudi make won’t be available to them.

 

[Rationale]

Nigeria isn’t scammed. They make a lot of revenue from it for their 1.8 million b/pd but they have no refinery within the country so the profit margins that for example Saudi make won’t be available to them.

Didn't Aliko Dangote put billions into opening a refinery, I remember this guy making headlines in 2017? I think Nigeria either already has a refinery or will get one very soon.

 

[bidenkulaha]

Didn't Aliko Dangote put billions into opening a refinery, I remember this guy making headlines in 2017? I think Nigeria either already has a refinery or will get one very soon.

Apparently that’s for 650k b/pd. big increase once it’s operational so should help. But they barely have any right now so they’ll need a lot more to cover all the barrels. I’m not completely aware of their progress tho, just remember some report from Bloomberg saying some refinery projects were delayed and that they export cheaply and import expensively despite being a crude oil producer

 

[Rocktheboat]

They've been saying this for so long. We need clear cut evidence