Drilling for oil in Somalia

[Abdisamad]

We Wuz oIl sheiKhs and ShiT

 

[Guardafui]

Two things will happen for sure with Somalia oil/production. Corruption and oil spills destroying our marine ecosystem. Imagine these current politicians seeing billions of dollars there’s going to be daylight robbery Nigeria style.

 

[Barwaaqoforsomalia]

I recently saw a video about oil corruption in Nigeria. Is there something to learn about what’s happening in Nigeria and compare it to Somalia?
So far, from the video I learn that
1. International companies do most of the exploring and extracting they sell it abroad and then Nigeria has to buy their own oil back since they don’t have the infrastructure to refine their own oil.
2. Somehow, they also had missing oil money that are as big as 16 billion dollars.
3. Also, public money that will assist the Nigerians in healthcare, infrastructure, etc get lost because these companies do these tax haven schemes.

Will Somalia not fall into the same international oil company scheme that is happening in Nigeria? Or would it be the same as Nigeria and one day will we see 16 billion dollar oil money missing in our news media headlines?

 

[Zakeriya]

They're trying to insult Puntland and probably Somaliland also.

Puntland refused to sign onto these plans because they are

1. Dumb
2. Unorganised
3. Unfair


Puntland also refused to sign onto the election plans because they want it to be 4.5 which is based on qabiil and not 1 man, 1 vote!


Look at all the countries that are developed, they all make sure their plans are transparent and agreed upon by the stakeholders of the country.

South-Central Somalis are asleep at the wheel and they're going to crash soon unless they stop this farce of a government.

I 100% agree with you. Honestly if we had a functioning government I would say nationalize the oil and put all of it into development. Whether it’s education, infrastructure or healthcare. Maybe even all 3

 

[Basra]

 

[Tukraq]

I recently saw a video about oil corruption in Nigeria. Is there something to learn about what’s happening in Nigeria and compare it to Somalia?
So far, from the video I learn that
1. International companies do most of the exploring and extracting they sell it abroad and then Nigeria has to buy their own oil back since they don’t have the infrastructure to refine their own oil.
2. Somehow, they also had missing oil money that are as big as 16 billion dollars.
3. Also, public money that will assist the Nigerians in healthcare, infrastructure, etc get lost because these companies do these tax haven schemes.

Will Somalia not fall into the same international oil company scheme that is happening in Nigeria? Or would it be the same as Nigeria and one day will we see 16 billion dollar oil money missing in our news media headlines?

keep in mind were ranked more corrupt than Nigeria same thing will play out if not worse, luckily puntland has abstained, no need to extract until we have our own local extraction and refining companies