British oil giant British Petroleum signed concessions with the Petrol Department for the Somali Federal Republic to explore oil and gas in the war raven East African nation. Intelligence reports existence of significantly large oil deposits in Somalia which could change global prices if tapped. The Somali shores of Indian Ocean could be having some of the worlds largest oil deposits. Experts geographical assessments point out billions of oil barrels are reserved untapped in Somalia. Intelligence collected by Strategic Intelligence shows Somali Puntland province has 10bn barrels of oil reserves, making one of the top 20 countries holding oil. A company that drilled wells in Puntland estimate 4bn barrels (about $500bn worth at today’s prices) in its two discoveries in Somalia. If drilled, Somali oil would flood the market beating countries like Nigeria and Kuwait to make Somalia the 7th largest oil producer in the world. Return of the quirky Somali diasporans - Voices of Africa The best books on Somalia: start your reading here - Guardian Somalia: Delivering clean water in a conflict-stricken country - ICRC Freed Kenyans reunite with family - Daily Nation Flight launched in Dadaab - The Star Court records show conflicting accounts of role 3 Muslim sisters played in West Springfield HS cafeteria fight - MassLive Shabaab’s rich backers targeted in terror probe - Daily Nation Somali pirates sentenced by Spanish Supreme Court for hijacking Naval ship - thinkSpain Japan: Defense chief Onodera to visit Djibouti, eyes greater security role - Kyodo Twin Cities’ Somali community demands justice for families in Kenya - MinnPost Plane lands mistakenly at Jeddah - Arab News Britain holds firm to its miraa ban - East Africa 100 aliens seized in Mombasa swoop - Standard Digital Britain eyes Somalia’s oil reserve - PressTV Minnesotas uninsured get public aid at historic levels - Star Tribune Only Banks Operate in Eastleighs Ghost Town - Nairobi News Cedar-Riverside addresses crime, victims - MNdaily Turkish police to work with Kenyan counterparts to stabilise Somalia - StandardDigital Bishop arrested with home-made bomb in Nairobi - Trending The Other Somalia: Fisheries - citizennews Post your comments hiiraan/news4/2014/Apr/54045/british_firm_to_explore_somalia_billions_of_oil_barrels.aspx
Posted on: Tue, 15 Apr 2014 00:01:44 +0000
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