Opinion

The Big rush for Africa`s oil and gas resources Part 1


Africa is in the forefront of the world`s E & P companies  discovering  new fields of oil and gas exploration.There now new players on the block like Uganda,South Sudan,Kenya,Mozambique,Malawi,Namibia including Tanzania and I sure Rwanda,Botswana,Zimbabwe,and Zambia will follow. I spoke two weeks ago with a Gulf executive oil company  shocking question of why is there a rush to sub saharan africa by E&P.
First of all private oil companies  are going to play second importance to the political oil rush.I explained that here there is no alternatives.Saudia Arabia  and Russia  beside their  vast oil and gas  resources with reserves in billions today ,will  be in  ironical situation in fifty years time.In that time these two countries will have their reserves deplenish by 35% thus securing a future for  their young generation  might  be in question.Sometimes I become irritated  when I hear some oil producing countries  say that they have to secure  multi ways in beefing up their financial coffers .So the question arises .......beside oil therefore for the last 30 years  where  has the oil finance gone if not for infrastructure or projects.
If I reflect back 30 years ago of my record in oil and gas and a profound  reflection of the human cost and suffering for a oil nation trying to step it up and improve the country industrialization, there a decry from my side.I must  admit I have spoken to many oil executives and oil ministers  thumbing  a proud note of  " MY COUNTRY DAILY PRODUCTION LEVELS "
If ........if i hypothetically we presume  that  Nigeria,Mexico or Venezuela  have a output of 
1,2 million barrels daily @ 96USD(price 3 years ago)  it will give these countries a  whoppy 115,200,000USD  (one hundred and fifteen million two hundred thousand  dollars per day.That it ! you saw the writing on the wall  ........a 3,450,000,000USD (3,4 billion dollars per month ) x five years of economic development plan will proudly theoretically give these oil host countries 207,000,000,000USD.
So where do we go from here ? well it not so easy to calculate the oil money  because  behind the scenes  there are dark forces at large, though be it in a legal capacity.
In Part 2  how oil money can survive and the political oil push



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