10 Billion Barrels of Oil Discovered off Namibia's Coast | Vantage with Palki Sharma
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- เผยแพร่เมื่อ 21 เม.ย. 2024
- 10 Billion Barrels of Oil Discovered off Namibia's Coast | Vantage with Palki Sharma
A new oil deposit has been discovered off the coast of Namibia in southern Africa. The discovery was made by the Portuguese oil company, Galp Energia. Galp says that the deposit contains about 10 Billion barrels of oil. This adds to the earlier discoveries made by Britain's Shell, and France's Total Energies. Altogether, about 21 Billion barrels of oil have been discovered in Namibia so far, and more explorations are underway. Namibia has a chance to use these deposits to boost its economy, but that will take time. Oil production is unlikely to begin before 2029. Namibia will also have to find a way to prevent the Western energy giants from taking the lion's share of the wealth. Palki Sharma tells you more.
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Namibia | Oil Discovery | Galp Energia | Total Energies | Firstpost | World News | News Live | Vantage | Palki Sharma | News
#namibia #oil #discovery #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
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Now democracy will be in danger in Namibia 😂😂
Absolutely 💯 what a comment
USA: IT SEEMS THE DEMOCRACY IS IN DANGER IN NAMIBIA RAAAA DEMOCRACY RAAAA, WHAT'S A KILOMETRE ⁉️⁉️⁉️⁉️⁉️🦅🦅🦅🦅🦅🦅🦅🦅🦅🦅🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸‼️‼️‼️‼️‼️‼️
USA: IT SEEMS THAT DeMoCrAcY iZ In DeNjA RAAA🦅🦅🦅🦅🇺🇸🇺🇸🇺🇸🇺🇸
*underrated comment*
🔥🔥
Libya, Venezuela, Iraq. Next will be Namibia.
America is preparing to give them some freedom
😂😂😂😂
😂😂😂😂
They already expanded the embassy, made it bigger.
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
@@demurgetroid the largest producer but can't use it, most of the time
its fascinating how africa keeps discovering new resources, even after all the exploitation, the land is still so rich
Check their fishing out
OPEC+ is “artificially” keeping prices high. Nobody would be looking for new deposits if the prices weren’t being kept this high. If they start producing more oil these projects will all disappear.
Keep lying to yourselves, the fact is that the president of Namibia is about to be very rich and the population very poor 😂
Africa is huge and still relatively unexplored. Similar to how Canada has a crap load of resources but no roads to even get north to find them. Africa is 3x the size of the US. Plus it has more coastline to exploit as the Arctic is difficult. Even with it's wealth and population the US still finds resources on its lands. Like the recent lithium stuff in nevada.
Without Africa's natural resources many first world countries cannot manufacture goods to enrich themselves!
USA also is to convince UN that Namibia has Weapons of mass destrubution that NATO wants to get rid of 😂😂😂😂😂
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
@@demurgetroidBlessed land stolen by colonized europeans
Yes Kadaffi and Saddam diidnt die, that was their clones. Now both of them is in Namibia.
Thieves of everything 😂😂😂
@@goldenmonkey963 😅😅😅😅
Now Germany is even ready to host excess Elephants from Namibia or Botswana😂😂
No
😂😂😂😭😭😭
Freedom is coming 😅
😂😂😂
🤣🤣
Wow now US will bring some democracy to Namibia...
No..
No..
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
USA: time to bring some democracy in Namibia 😂
You mean China bringing authoritarianism. Get with reality. How many OPEC+ countries are flourishing democracies? Some people are such idiots.
Most likely 😂
That's right! The bullies are preparing to bring their model of "democracy" in Namibia, 😂😂😂😂😂😂😂😂
Its only fair they brought you the internet so you can talk shit. ✌️😐
As if Namibian discovered it. The US tech company helping them, without there tech? Nah, i don't think so that oil will be discover
i came straight for the comments section :D. Did not disappoint
😂😂😂😂😂 me tooo
Wait for the Americans to find some human rights violations there 😂
😂
😂😂😂
Oh best believe America is cooking up an LGBTQ problem for Namibia
😂😂😂😂 shameful country USA
😅😅😅😅
US:"I think you mean WE found oil.." 💀
😅😅
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
@@demurgetroid bot
@@Holysimba21 Computer says no lol
😂 facts
Africa is blessed I don't know why their people are suffering
Having mostly corrupt stooges for leaders is
20% are benefiting 80% suffering
Tell the Europeans and Americans to leave Africa alone, unfortunately they will die of hunger if they leave Africa.
the countries where the russians and chinese aren't are doing better... the rest are being slaughtered and their wealth stolen
It's because we are dump
Pray for Namibia!
Praying doesn't help. Guns do
More so "prey on Namibia"
USA: looks like it's time to export some freedom boys
No
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
@@demurgetroid stop copy pasting the same shit in every comment
@@PankajKumar6493 No! F00k off lol!
😂😂😂😂damn som
$45 Trillion was taken from India by Britain over 200 years of rule
and how much in foreign aid have they had off the Brits since independence? Don't forget you've a space program the Brits don't.
@@rufustfirefly7389oh please it does not compare
@@rufustfirefly7389Then why not Britain starting its own Space program , go ahead Brit bong let it bring to sky
@@rufustfirefly7389 even if you sell Britain , we won't be able to recover our 45 trillion dollars and countless atrocities against us!
The British rule have destroyed India, divide & rule then partition, now Britain is facing the curse, the Muslims will teach them a lesson.
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Cryptocurrency investment, but you will need a professional guide on that.
Facebook 👇
As a South African, I adore her coverage of events unfolding in Africa.
US : Ahh shitt... Here we go again 🦅
Thanks Palki for your straightforward presentation and analysis, from Namibia 🇳🇦
Whatever you do, don't let US, UK, French, and German oil companies into your territory.
@@utkarshg.bharti9714 Absolutely,. There is a Namibian company, hope it will get a chance
@@utkarshg.bharti9714 there thing is they will just come because Namibia has very low oil company
As a Namibian I'm excited about these oil discoveries. However, we have to get it right. From the legal framework, to ensuring that the vast majority of Namibians benefit from our natural resources. We can do it. It will take time however.
It will take more than time. It will take Namibian citizens holding their politicians to account.
Foreing companies already control 80% of that oil. You will have to remove your current leader if he's compromised
Goodluck from Philippines here.
Like Malema said we (Africa in general)should own 50% of everything oil included we should own and Control key word "control" our resources
I know you have come to see in how many different ways people will write
'Nambia needs democracy'
😅😢😂
Namibia is a democratic country since 1990
@@christiaanvanwyk2622 hulle bedoel Amerika sal hulle demokrasie bring. Die een waar hulle jou land totaal opfok en vernietig sodat hulle kan steel en plunder.
@@christiaanvanwyk2622 use your brain bruhh..,.. it's a joke
God Bless Namibia
Sounds like Namibia needs some freedom.
No
We need oil
Namibia plus India, we can protect our oil...
80 percent of their land is controlled by german settlers and they are going to benefit and not the real Namibians.
CIA: ah shit! here we go again.
😂😂😂😂😂😂😂😂😂😂😂😂, very good comment
As if Namibians single-handedly discovered that oil. Without US Tech Company that oil cannot will not discover. Like US helping Saudi discover the oil through their techlnology. And some countries copy that tech including Russia and some OpEc countries
They already killed the President.
USA : Namibia needs Freedom
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
Freedom 🦅
Watch out for the western playbook
I am so happy for all African countries
I like them to have bright future
Namibia is too blessed
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Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
AFRICA is rich . We growing higher .
You not rich, but grow higher future
We are rich, but our politicians keep us down in the gutters.
@@kapunda6741 I too am rich but my bank statement lies to me
@@Ducktility lol. I have the same problem
The only thing growing there is the politicians pocketbooks
Love this news! More African countries should become prosperous. Will their politicians stand up?
These foreign oil companies will buy them off
USA: DID someone said oil?
USA is currently the world's largest producer of oil themselves. Literally a blessed land with everything they need at home.
say*
So what the hell did you do to Afghanistan, Iraq, Libya ect😢@@demurgetroid
Why would they send the oil to India when they can build refineries in Namibia and South Africa
@@darshp800 For your information South Africa already has refineries namely: Spref; Enref; Chevref and Natref and has the capacity and technical know-how if has to expand on the existing infrastructure. Secondly what you are saying is false, Saudi Arabia has refineries: Riyadh Refinery (Saudi Aramco); Rabigh Refinery (PetroRabigh); Jeddah Refinery (Saudi Aramco); Ras Tanura Refinery (Saudi Aramco); Yanbu' Refinery (Saudi Aramco);
Yanbu' Refinery (SAMREF) (Saudi Aramco/Exxon Mobil); Yanbu' Refinery (Saudi Aramco/Phillips 66); YASREF Refinery (Yanbu') (Saudi Aramco/Sinopec); Jubail Refinery (SASREF) (Saudi Aramco/Shell); Jubail Refinery (Saudi Aramco/TOTAL).
So again, WHY should they sell the oil to India when they can partner with South Africa (close neighbor) and or build their own refineries?
If India wants to benefit from that, they should build a refinery in Namibia and buy the finished products at a discount from Namibia!
@@darshp800 Firstly they should not sell the raw product to India. They should build their own refineries and sell the finished products to create local jobs and to build technical know-how for their people. For your information South Africa has refineries and technical know-how and Namibia could partner with South Africa (their neighbor) in this regard. They should not allow India or any other nation for that matter to exploit them.
Secondly Saudi Arabia has refineries so do not spread false information to prove a weak point 😂
@@blessingndlovu9037 Read it properly illiterate person, where did I mentioned that Saudi doesn't have refining capacity, I have mentioned Aramco which is world's largest refiner, but it's not able to refine all Saudi oil output. Neither any oil producing country has capacity to refine all extracted oil by itself. Read it carefully.
Read properly first and then comment, and for your kind info I work in the company which supplies drilling units to these gaints.
You don't decide who they can sell too neither can Namibia(which is mostly likely to follow capitalist route) once it signs agreement with Shell, BP or any private ones, they sell it to highest bidder. Welcome to the world of Capitalism.
@@blessingndlovu9037 Read it properly first blank brain, I never mentioned that Saudi has no refinery, I said it doesn't have the capacity to fully refine all the oil output. Neither does any oil producing country.
And lastly neither me nor you decide to whom Namibia sells raw oil, they will follow capitalist route and sell wells to BP, Shell who will sell them to highest bidder. They won't care where you refine it. Welcome to capitalist world.
@@blessingndlovu9037 Where did I even mentioned that Saudi doesn't have any refinery?
God's blessings. Generous..avoid environmental pollution priority.
Good news....Namibia once a 5 th province of South Africa...given independence in 1990....by than South African Govt....love from South Africa..
We were never a South African province.
@@emmanuelashipalakaulumah3299 Maybe you did not recognize it BUT ACCORDING TO THE THAN SOUTH AFRICAN GOVT...SOUTH AFRICA RULED OVER NAMIBIA AS A FIFTH PROVINCE ..WITH AN ADMINISTRATOR ..LIKE THE THE OTHER FOUR PROVINCES...YOU WERE ONLY GIVEN INDEPENDENCE IN 1990..WITH WALFISH BAY..REMAINING WITH SOUTH AFRICA...ONLY AFTER 1994..THE NEW SOUTH AFRICAN GOVT...TRANSFERRED WALFISH BAY TO NAMBIA..EVEN FORGIVING MONEY OWNING TO SOUTH AFRICA.......THIS THE FACT ...LIKE IT OR NOT..
@@emmanuelashipalakaulumah3299yes we were.. . South West africa
Love your reporting Palki !
This is my country 🇳🇦
Be careful from USA mathod for making puppet government in Namibia for oil rights
God bless my country and please protect us from incoming storms like the " American democracy"😭😭
It might not be worlds largest or Dubai but there's a great opportunity for the people of Namibia
According to Shell and Total energies : they will produce 500,000 barrels in 2030 but estimation was end of last year and excluded Portuguese Galp. With Galp now on board and said in hurry to develop their oil Wells, it's now estimated that Namibia will start at 700,000 barrels per day. Shell made their 5th discovery just last week again. Totalenergies too and are now still busy with appraising another well as we speak. Total Wells discovered are now 10 and this is only 10% of the area still to be drilled in Orange basin.
On 10% shareholding I have to say there is a different sharing Formula. Government will get 65% share in Revenue. 45% is tax plus 10% shareholding plus another 10% lifting fee =65%.
you write like an oil and gas analyist, given that only ten percernt of the area hass been drilled the reserves estimates will surely rise, that 20billion figure might turn out to be true in the future, i was sceptical initially, about how much oil they found.
Really needed someone to expound on that shareholding structure. Thank you so much. Good news for us here in Botswana. Congratulations Namibia
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
YOU RIGHT ON SPOT! AND ALL THESE IS JUST THE ORANGE BASINS AT 10%, THERE IS STILL WALVIS BAY BASIN AND OTHERS, AND plus ONSHORE POTENTIAL. AND SINCE THERE IS MASSIVE GOLD DISCOVERIES AND MILLIONS OF TONS OF RARE EATH AT THE SAME TIME, WE MIGHT BE TALKING ABOUT A TRILLION DOLLAR ECONOMY HERE,
It’s insane how much wealth is in Africa. Yet, they have the guts to say Africa is poor. Close Africa for a year and watch the world collapse! Nonsense!
From diamonds to oil they have everything. Blessed piece of land for sure
@@mukultomar6772 We must learning how to build a continent of prosperity.
@@Freedom20255 Don't even think about it west is all over your back
Namibia has massive gold discoveries, rare metals and the best diamonds, and highly sought after Tantalite/Tantalum one IPL alone reported at 50 000 000 tons of rare metals... And the Oil is LIGHT OIL too. Mind you, before all these massive discoveries, our leadership managed to build one of the best economies in Africa. To the point that their roads/ Infrastructure is ranked THE BEST IN AFRICA and top 25 in the Worl! That's why it's USELESS to follow uninformed comments on "corruption" affect the way the oil discoveries impact the citizens...
#The Central Bank has already come up with "WELWITSCHIA SOVEREIGN FUND" to avoid RESOURCE CURSE, what they call "the Dutch disease"...
@@Lions-Pride-Dominion Insane!!
They're also really rich with uranium and wind energy (both onshore and offshore). They should use that oil and gas money to help finance nuclear energy and wind farms.
How can the government of Namibia accept a 10% share as the owners
It should be 60/40 at the least.
Ten billion barrels is about 3 months of world consumption of oil. Yippee.
Just take note that it's 21 billion barrels discovered in only Wells drilled. Guyana discovered 12 billion barrels in over 30 Wells. Namibia discovered 21 billion in 8 Wells drilled. It looks like Namibia will reach over 50 billion barrels by the time they drill 30 Wells or by the look of things by 20 Wells they will be at 40 billion barrels. This drilling is only 10% of entire block.
hope they can be self reliant instead of depending on other foreign countries
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
This is so on point. I appreciate the fact that this news report is realistic
The reason why Africa countries need to be united than ever
Namibia is a beautiful country
Yes ... indeed!!! God bless Namibia and love from Croatia.hr, EU!
It is also discovered in south Africa and Mozambique also.
they found gas in those places not oil.
Oil broer, opposite Petro SA refinery in the western Cape.
@@siphociliwe1096 there should be no townships of corrugated iron
I'm happy for Namibia
That's why our Africa is always blessing.
Freedom and democracy coming to namibia
Namibia is going to get some freedom soon 🤔
We do have freedom unfortunately for you,infact the most peaceful country in Africa,Namibia minds their own busines,just like you should.Thank you
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
@@UrbanFocus-rl6vw , well said. We do mind our own business and very blessed and humble people. May the lord protect our nation and resources.
Land of the brave don't forget that
I hope this oil discovery in Namibia doesn't bring problems to Central and Southern Africa.
South Africa also find oil same place next to Namibia
...and it already has refineries
Namibia democracy is coming
Great news for Namibia...
NAMIBIA, Land of the BRAVES, Land of SAVANA! Watch out Fellows Africans Namibians. This may be a Beginning of an End! Watch out!
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund🙏🏿
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
Very soon we shall hear of insurgency in Namibia...
The EU diplomats are already warming up to the opposition parties
Namibia is not what you expected 2 million with good governance so don't say that ,ve
@@immanuelhiskia3092never
Not anytime soon. We are very peaceful and respect the rule of law.
That already happened when they took out the President.
Great
Good cap.
Let's hope Namibia truly benefits from this new found resources.
Let's hope it doesn't become a new theatre of the absurd
America is bringing democracy and human right to Namibia soon
After geingob left
Africa needs to start refining their own oil
Lord protect our country from greedy them😞😞
US: Namibia is holding weapons of mass destruction
Yeah and it's oil
....Ha, ha, ha, oh my God... what are you saying ... its shitting!
USA: here we go...
My country Namibia 🇳🇦
Namibia needs freedom🇺🇸
They take 80 per cent and the soil is yours 😳😳😳
Pretty much!
they cant with out being sued. they might get 65 percent of all profits, but still the oil companies will walk away with handsome returns its a win win.
Just like in Uganda total with the biggest share of oil and Uganda with 15%
This is NOT a win win! lol! Win-win for who?
So 80% of the country (oil feilds they say) is essentially foreign owned
China already has firm foothold in Namibia. Not to mention Namibian government officials are easily corruptable
You really think China can hold out when it comes to money in front of the Superpower?
Namibia must refine its Oil.
Africa is a Blessed Continent indeed , There is no doubt about that. Its pity we don't have Intelligent Leaders who knows how to share the wealth amongst the people.
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Good day. Yes, Namibia would like to become a partner with India, Bangladeshi! It's time to share among each other and overcome struggles.
No no my friend first you need lots of USA style democracy, freedom, human rights & a little bit of american corporations & we will make you Great again!!! 😂😂😂
discovering is good but extracting is a very expensive process.This is where Russia Succeeds as when they extract with cheaper work force and equipment.Not other countries got that
Namibia has massive gold discoveries, rare earths and the best diamonds, and highly sought after Tantalite/Tantalum one IPL alone reported at 50 000 000 tons of rare earths... And the Oil is LIGHT OIL too. Mind you, before all these massive discoveries, BY THE GRACE AND THE WISDOM OF THE MOST HIGH, our leadership managed to build one of the best economies in Africa. To the point that their roads/ Infrastructure is ranked THE BEST IN AFRICA and top 25 in the Worl! And perhaps one of the reasons why the country is receiving hundreds of Billions in direct foreign investments/FDIs, with many of them speaking very Loud very loud, one of them went like this: "Namibia is the best place to invest in..."
That's why it's USELESS to follow uninformed comments on "corruption" affect the way the oil discoveries impact the citizens...
#The Central Bank has already come up with "WELWITSCHIA SOVEREIGN FUND" to avoid RESOURCE CURSE, what they call "the Dutch disease"...
ALL THESE HAVE GONE VIRAL ON THE NET,
...easiest way to jack up the price on something is to convince the people thats its rare and scarce.... *cough* diamonds, oil, caviar.
Go neibas , love from Botswana
❤ U and LIKE your "WORLD NEWS" PRESENTATION...
This oil discovery will be beneficial for the economy of Namibia.but with depend on Political systems and technology advancement of population
She forgot to mention that those companies will have to pay royalties to Namibia. Just a small detail...
nicely explained mam
Our leaders must also consider their nation to benefit on natural resources of the countries
Eyes on Namibia 🇳🇦
Oh my..... I can already hear the song
"AMERICAAH..... F*** YEAH!!!"
They is more and more oil discovery in southern Africa this days , Africa is blessed with everything it's just that our reader a weak
My Namibian please be wise 🙏
Operations Freedom..America.
Nice that can help the African people big time if done right
they be helping themselves thay money wont touch ordinary people
I'm old enough to remember that 40 years ago we were told about "peak oil" and the world would run out in 30 years .
Namibia's days are numered! Oil is a curse!!
That is about 8 months global supply but will be cost expensive to produce produced and take many years to produce. Global consumption of 100 million barrels a day or 36,500,000,000, 36 billion barrels a year.
Its hurting that there are lot of mineral discoveries in African countries but people dont benefit from them due to greedy leaders who can't work for their people but satisfy their selfish interests.
Unlike in Nigeria, where a larger population means the oil money will be spread thin, not accounting for corruption, I hope the oil money can massively benefit each of its native citizens, like those in Gulf states.
th-cam.com/users/livecy35XTnY-iQ?si=nNi92dve8Uk8TGNp
Our leaders are blessed to create Sovereign Fund called Welwitschia Fund to help avoiding "The Swedish curse"🙏🏿
The way God keeps blessing Africa..... but Africa cant just help itself ouf
Namibia needs freedom
10% is peanut 😢.
Refining our oil will also be a great opportunity. It will create jobs for our young.