Can someone tell me how much oil there is exactly? No fake news please
The oil in somalia
- Thread starter GEEL-XAABSADE
- Start date
There's a lot of info flying around but I'm not sure of its veracity.
This was the Chinese ambassador to Somalia:
There are two major constraints on oil exploitation: financial costs and energy costs. The financial costs would not matter in this case as the West, Arabs and Chinese would fight over access to Somali oil as it is in a really good location for refinement and worldwide transport and the Somali government is really weak. The true limiting factor is the energy cost. The EROEI (energy return on energy investment) of the oil must be quite high (like close to 20:1) to be very profitable and at least 3-5:1 to be viable. That EROEI is the unknown element here.
This was the Chinese ambassador to Somalia:
There are two major constraints on oil exploitation: financial costs and energy costs. The financial costs would not matter in this case as the West, Arabs and Chinese would fight over access to Somali oil as it is in a really good location for refinement and worldwide transport and the Somali government is really weak. The true limiting factor is the energy cost. The EROEI (energy return on energy investment) of the oil must be quite high (like close to 20:1) to be very profitable and at least 3-5:1 to be viable. That EROEI is the unknown element here.
Theres still conducting tests and the chances of having large quantity of oil is really high. Oil is going to change Somalia for the absolute best. No more depending on aid and fighting over small resources
oil and any resource is useless if the gov doesn't implement laws to protect the workers from exploitation, implement regulations and also direct the money to where is supposed to be. Since villa xamar is corrupt i don't expect any of these things being implemented and only remaining on paper
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Gold price per Kg = $65,500, at 18,000,000 kg = $1.1 trillion?
Uranium price per Kg = $165, at 560,000,000 kg= $ 92.4 billion?
Oil price per metric tonne = £550, at 5,000,000,000,000 MT = £2.75 trillion?
We could be rich today if the Somalis behaved themselves.
Gold price per Kg = $65,500, at 18,000,000 kg = $1.1 trillion?
Uranium price per Kg = $165, at 560,000,000 kg= $ 92.4 billion?
Oil price per metric tonne = £550, at 5,000,000,000,000 MT = £2.75 trillion?
We could be rich today if the Somalis behaved themselves.
Lol, remember these values are estimates and only a small fraction of these resources could ever be extracted due to transport, energy and labour restrictions. Plus, if that much of a commodity entered the global market, its price per unit mass would drop massively.
sxb even with just 20% of that money we would be rich like a fat gulf arab.
It’s oil In somalia look up it. Those fat ass gulf Arab countries went from being poorest countries in world tho the richest countries in world and all that just bc of oil
Abdisamad
VIP
Oil/fossil fuels will be fased out within the next 20 years. The world is adapting more and more into clean/green renewable energy sources.. Once this happens oil will be useless...It’s oil In somalia look up it. Those fat ass gulf Arab countries went from being poorest countries in world tho the richest countries in world and all that just bc of oil
Lol, there is no chance of renewables becoming the main energy source worldwide any time soon.
See that orange strip? That is renewable energy generation worldwide. Do you know what's worse: most of the orange is biomass burning (wood and biodiesel). Wind and solar combined would barely show up.
Somalia is going to be interfered with more and more because of that oil. The West, the Arabs, the Turks and the Chinese all want it.
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There's oil and gas plus minerals, amounts varies from different docs, but its on par with Gulf Arab nations.
