oil refinery making machine in somalia

                                               
                                               
                                               
                                               
                                               
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  • What oil companies operate in Somalia?
  • Energy firms like Royal Dutch Shell and ExxonMobil operated in Somalia before the government collapsed in 1991. In 2020, the government passed a petroleum law under which the Somali Petroleum Authority was established to regulate the industry and guide deals with international contractors.
  • Why is Somalia launching its first offshore licensing round?
  • Somalia is one of the few remaining frontier oil and gas exploration territories and the Somalian federal government is promoting its advancement by launching its first ever offshore licensing round. We look at the latest developments. Since the late 60s, civil unrest has prohibited the exploitation of Somalia¡¯s offshore oil and gas resources.
  • Why did the oil & gas industry rush into Somalia?
  • The presence of working hydrocarbon systems onshore in the north of Somalia sparked an industry rush into the country in the 1980s before the oil and gas majors were forced to declare force majeure ahead of civil war in 1991.
  • Will Somalia attract foreign investment to develop oil & gas?
  • Now, however, after several years of relative peace, the government is making a bid to attract foreign investment to develop the country¡¯s oil and gas riches. In May, Somalia¡¯s Ministry of Petroleum and Mineral Resources launched its first offshore licensing round, featuring up to seven blocks that can be bid for between August 2020 and March 2021.
  • Does Somalia produce oil?
  • As such, Somalia, which relies heavily on fossil fuels for its energy supply, does not produce oil. Keen to change this fact, the government ratified a new Petroleum Law in February, revoking the one passed in 2008. How well do you really know your competitors? Access the most comprehensive Company Profiles on the market, powered by GlobalData.
  • What is the Somali Petroleum Authority & how does it work?
  • In 2020, the government passed a petroleum law under which the Somali Petroleum Authority was established to regulate the industry and guide deals with international contractors. Licensing rounds have the potential to generate much greater revenue for Somalia and its regions.