Somali Government has succeeded in reforming and the finalisation of oil production sharing agreement w/ Coastline Exploration company after review
- Thread starter bidenkulaha
- Start date
Of all the companies in the world, he chose “Coastline” which has zero experience in oil drilling…..
Maybe you were right the first time..
Also the country was in the middle of an election so the President made sure people couldn’t take advantage of that. One thing Farmaajo improved was cracking down on the corruption he did so well even Hassan applauded his work
$7 million?!?!?!!
Nah, I’m not gonna say anything. Inshallah, HSM has a good idea about this.
bidenkulaha
GalYare
A lot of calaacal. We need the revenues right now, not in 20/30 years. If anyone is going to get the revenue it needs to be this government too because it has this countries interests at heart
Jaha
Cherry red Ferrari for free!
Oil is becoming obsolete as an energy source, and its use will continue to decline in the future, better get some money off of it ASAP. I still have doubts about the whole deal and how they're going to deal with corruption, but hope it works out.
The oil should only be to kicked start the economy, industrializing and diversifying it.
I doubt that this deal will benefit us. This coastline exploration company is just an rebranded Soma Oil company. Its a shady company with corporate leaders have ties to private equity firms in united states. Just like Chad, we will be robbed, even if this deal does benefit us, I doubt that the politicians can avoid the dutch disease. Everyone will be on welfare, we import indians and foreigners to due our work, we fail to industrialize, we fail to diversify our economy, we fail to put an end to the dollarization of our country, we will probably end up like Chad, who are controlled and f**ked over by Exxonmobile and some chinese company. Our we might become a nigeria, gulf countries our Venezuela who used all their revenue for Welfare and they have done nothing for the country. We must become a Norway, put most of our profit in our wealth fund and to spend only the revenue on diversifying and industrializing our economy. We should also nationalize the oil by buying up all the shares of the company that extracts the oil.
We must become an empire, conquer all africa, domestically build semiconductors that rivals TSMC, and export sophisticated machinery rather than raw materials. I don't think anyone in the government have the necessary IQ to think that far.
We must become an empire, conquer all africa, domestically build semiconductors that rivals TSMC, and export sophisticated machinery rather than raw materials. I don't think anyone in the government have the necessary IQ to think that far.
these terms are acceptable
We can't even turn the FGS from a kleptocracy to a semi-functioning government but people think its a good idea for us to start selling resources.
I agree. This can never end well. Especially with the the types of leaders we have.
Unbelievable.
Prince of HS
VIP
Oil frenzy is ending soon dumbass and soon the world will turn away from oil. We might as well make profit from it will we can. 50/50 profit split
Plus 30% income tax and 5% royalty is a decent deal. Other countries only get 60/40 or 70/30
And countries like Tanzania get no revenue from their mine despite promises from Glencore.
All they got was serious environmental damage.
You can believe this is a good idea, and HSM can really secure us a good deal if you want.
It would really show your level of intelligence.
Prince of HS
VIP
I personally find the company shady but it’s being reviewed by parliament in the coming week
