Have there been any official oil surveys in Somalia if there is enough oil serious profits can be made exporting oil and reinvested back into Somalia1
Somalia's Oil reserves
- Thread starter abdullah233
- Start date
No actual commercial deposits have been found yet. Just speculations based on geology.
Somalia Crude Oil Reserves by Year (Billion Barrels)
www.indexmundi.com
It's clearly not being used
Oil companies were in Somalia before the war from what I've heard. The problem that arises with oil would be similar to Nigeria too much corruption
Oil companies were in Somalia before the war from what I've heard. The problem that arises with oil would be similar to Nigeria too much corruption
Even if they do find it it takes at least a decade to start profiting from it.
By then we'll be using autonomous Teslas powered by unobtanium.
Oil won't save us but wil most likely stagnate development by creating a political deadlock between different factions over profit share.
This is one of the main reason we aren't able to agree on a constitution for decades.
Has Somalia begun to use the Jubba river for transport
oil will never be useless, oil is required for so many things.
?you had to bring that up.
Useful yes.
Profitable? No
When you have nearly half a trillion barrels competing for a smaller market you can forget making the huge profits of today.
We could use the materials for our own economy but that's only if we have one to start with.
Most oil exporters don't even bother with that and will struggle when the time comes.
JUBALAND - Using Jubba River to move cargo
Haven't researched the feasibility of this idea but any reason why moving freight using river barges over the Jubba river would be a bad idea? It could: 1. Drastically lower shipping costs 2. Provide a tons of jobs in barge manufacturing 3. Open up tens of thousands of hectares of arable farm...
www.somalispot.com
And the answer is no but it's feasible with some minor earth works.
I hope that this administration only creates the legal framework for exploitation of our oil reserves. We are clearly not in the state to negotiate with large companies at the moment. With all the conflict we are to vulnerable to fall in another civil war, while the first one isn't rven finished yet.
There needs to be stability and security, an investor doesn't want some militants to blow up their oil fields.
Oil isn't only used in cars. It used in pharmaceutical, plastics, textiles, power generation. The world is more dependent on oil than you think.
Oil is easy money for an economy. Norway seeks oil yet how many billions of barrel does the gulf and Russia produce.
I truly believe galbeed will be richer than all somalis states because they have tons of oil and are getting atleast 50% for it. They also are in agreement with each other while we spend our time bickering and wasting valuable time.
They have tons of oil and gas reserves that the chinese company claims to have surveyed. I believe galbeed will be wealthy long before any somali region because they don't have security issues and are not divided on this matter. I hope they diversify their economy from the get go and invest in solar energy.
At least one somali region will be wealthy beyond belief. Trillions of income is no joke, only the dumb arabs wasted all that money because they have no business mindset. Somalis on the other hand will dominate in the business sector and hopefully our generation will plan ahead 10 yrs like china does. We could make deals with congo that is being looted by rwanda to provide them much needed electricity or other goods in return for coltan and kick start our own electronics industry or corner a market that other countries have yet to in africa.
If galbeed does better then i will take my business investments there. Reer NFD will stay dirt poor for the rest of their existence if they stay with the debt riddled corrupt kenya that is under pressure by the world bank and china hitherto.
Does SL have any oil reserves? i'm genuinely curious? I guess there is gold and rare earth minerals, perhaps the admin there can make use of wind and solar energy. I want somalis to be like Norwegians but even the diaspora behaves in a short sighted manner.
They have tons of oil and gas reserves that the chinese company claims to have surveyed. I believe galbeed will be wealthy long before any somali region because they don't have security issues and are not divided on this matter. I hope they diversify their economy from the get go and invest in solar energy.
At least one somali region will be wealthy beyond belief. Trillions of income is no joke, only the dumb arabs wasted all that money because they have no business mindset. Somalis on the other hand will dominate in the business sector and hopefully our generation will plan ahead 10 yrs like china does. We could make deals with congo that is being looted by rwanda to provide them much needed electricity or other goods in return for coltan and kick start our own electronics industry or corner a market that other countries have yet to in africa.
If galbeed does better then i will take my business investments there. Reer NFD will stay dirt poor for the rest of their existence if they stay with the debt riddled corrupt kenya that is under pressure by the world bank and china hitherto.
Does SL have any oil reserves? i'm genuinely curious? I guess there is gold and rare earth minerals, perhaps the admin there can make use of wind and solar energy. I want somalis to be like Norwegians but even the diaspora behaves in a short sighted manner.
I truly believe galbeed will be richer than all somalis states because they have tons of oil and are getting atleast 50% for it. They also are in agreement with each other while we spend our time bickering and wasting valuable time.
They have tons of oil and gas reserves that the chinese company claims to have surveyed. I believe galbeed will be wealthy long before any somali region because they don't have security issues and are not divided on this matter. I hope they diversify their economy from the get go and invest in solar energy.
At least one somali region will be wealthy beyond belief. Trillions of income is no joke, only the dumb arabs wasted all that money because they have no business mindset. Somalis on the other hand will dominate in the business sector and hopefully our generation will plan ahead 10 yrs like china does. We could make deals with congo that is being looted by rwanda to provide them much needed electricity or other goods in return for coltan and kick start our own electronics industry or corner a market that other countries have yet to in africa.
If galbeed does better then i will take my business investments there. Reer NFD will stay dirt poor for the rest of their existence if they stay with the debt riddled corrupt kenya that is under pressure by the world bank and china hitherto.
Does SL have any oil reserves? i'm genuinely curious? I guess there is gold and rare earth minerals, perhaps the admin there can make use of wind and solar energy. I want somalis to be like Norwegians but even the diaspora behaves in a short sighted manner.
Actually galbeed is receiving 50% of what ethiopia receives. And atleast 80% goes to china.
So the 50% aint half of the total it is half of whatever is left after the chinese are satisfied
Also like the user above mentioned, oil will never be replaced fully. Every barrel sold will still be useful for many by products that can be produced from it. Lets also be realistic. Not only wealthy nations depend on oil for petroleum and will have moved on from using fossil fuels by 2040. Many nations that are not as rich will still be dependent on oil well into 2070. I also doubt oil prices will take a deep dive for a long time, unless a major disaster occurs.
What? so ethiopia gets none? are they paying off their debts in this manner?
Pretty much
