I was very surprised at: (1)The country sits on substantial oil - TopicsExpress



          

I was very surprised at: (1)The country sits on substantial oil reserves in the Timor Sea which are jointly exploited with Australia, and on August 14, 2013 it announced that its sovereign wealth fund, the Timor-Leste Petroleum Fund, has reached a value of $13.6bn, surpassing the oil funds’ value of both Bahrain and Oman! (2)Coffee currently accounts for around 90% of non-oil merchandise exports, and Starbucks is one of the largest customers. (3)There has been little onshore minerals exploration, but gold, manganese and marble have been identified as potential resources.
Posted on: Sun, 18 Aug 2013 15:12:14 +0000

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