Somalia’s oil exploration to conclude by April 2025, signalling potential economic boom

[iamcremo]

In the future Somalia could easily produce 30 million barrels of oil a day.

 

[IKHALIIL]

234 billion USD a year on welfare for 24 million somalis.

Payments of $1500 USD for 18 and over
Payments of $750 a months for those under 18

Adds to roughly 234 billion (estimate)

Create jobs for the youth

Free health care

Business grants

Why would you want to put a young population on welfare when what they need is employment, free education and healthcare?

Hsm repeating that the oil blocks have 20 billion barrels.


1 trillion dollars worth, Inshallah this becomes true.

He's simply highlighting the potential of somali oil reserves, given that only 3 out of 200+ blocks are rumoured to contain billions of barrels of oil, rather than endorsing the rumoured 20 billion barrel figure.

 

[iamcremo]

Why would you want to put a young population on welfare when what they need is employment, free education and healthcare?

He's simply highlighting the potential of somali oil reserves, given that only 3 out of 200+ blocks are rumoured to contain billions of barrels of oil, rather than endorsing the rumoured 20 billion barrel figure.

Temporary solution until jobs are created. People in Somalia live in poverty

 

[iamcremo]

Why would you want to put a young population on welfare when what they need is employment, free education and healthcare?

He's simply highlighting the potential of somali oil reserves, given that only 3 out of 200+ blocks are rumoured to contain billions of barrels of oil, rather than endorsing the rumoured 20 billion barrel figure.

The average family in Somalia lives off 1 USD a day. I would reduce the salaries of all the mps and give it back to the Somali people because they deserve every penny.

 

[iamcremo]

Give back the oil money to the Somali people. Enough is enough.

 

[iamcremo]

Why would you want to put a young population on welfare when what they need is employment, free education and healthcare?

He's simply highlighting the potential of somali oil reserves, given that only 3 out of 200+ blocks are rumoured to contain billions of barrels of oil, rather than endorsing the rumoured 20 billion barrel figure.

Creating jobs doesn't happen overnight. Neither does rebuilding a nation. Somalia is a fragile country and I have been to Somalia 3 times. People deserve to receive every penny they deserve. Even if it means giving away all the oil revenue to the Somali people.

 

[iamcremo]

Somalia has at least 400 billion barrels of oil What is a measly $234 billion dollars each year. It would change the lives of 25 million somalis.

 

[iamcremo]

400 billion barrels of oil is worth 29 trillion dollars currently and it is recoverable too unlike the arabs

 

[iamcremo]

Besides it would boost the gdp of Somalia significantly by increasing consumer spending which typically leads to an appreciation of the Somali shillings. Imagine 1 somali shillings worth 3 USD.

 

[Barkhadle1520]

I asked chatgpt. Apparently 13 million somalis are over 18. And 11 million somalis and under 18. I don't know if this is accurate.


To produce $234 billion USD in annual revenue from oil, assuming an average price of $75 per barrel, you would need to produce approximately 3.12 billion barrels of oil. This calculation is based on a simple division of the target revenue by the assumed price per barrel, but the actual amount of oil needed could vary significantly based on actual market prices and production costs.

Here's a breakdown:

• Target Revenue: $234,000,000,000 (234 billion USD)
• Assumed Oil Price: $75 per barrel
• Calculation: 234,000,000,000 / 75 = 3,120,000,000 barrels

This would provide for the Somali race each year

No country makes that much in oil revenue dude

 

[iamcremo]

No country makes that much in oil revenue dude

if Somalia produces 4 billion barrels a year it could easily generate that. USA produced the most oil approx 13 million barrels of oil per day which is worth 880 million usd per day (current price).

which is close to 400 billion USD per year from oil. 70/30 deal you do the maths. Of those 3 blocks Somalia could easily generate 200-300 billion usd each year and somalia has over 200 blocks which means production rates might be significantly higher.

im not even mentioning the other resources Somalia has like copper, gold, renewable energy, uranium and etc.