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View Full Version : Somali Oil for America?

mohammed farah
06-10-2007, 02:47 PM

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06-10-2007, 03:21 PM
So far I do not know of any oil companies that are willing to invest one penny for oil production in Somalia. It would not be a cost effective move and to be honest "Big Business" operates on the expectation of profit for their investments. The oil industry is run by the big 7 oil giants and not by the wishes of any government.

These are the Guys who will determine what countries get exploited for oil.

Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was formerly known as just Aramco, an acronym for Arabian American Oil Company.

Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, a suburb of Dallas, USA, is the largest publicly traded integrated oil and gas company in the world, formed on November 30, 1999, by the merger of Exxon and Mobil. As of 2007,

Royal Dutch Shell PLC is a multinational oil company ("oil major") of British and Dutch origins. It is one of the largest private sector energy corporations in the world,

BP plc (LSE: BP), NYSE: BP, TYO: 5051 ), originally British Petroleum, is a British energy company / multinational oil company ("oil major") with headquarters in London.

Chevron Corporation (NYSE: CVX) is one of the world's largest global energy companies. Headquartered in San Ramon, California, USA and active in more than 180 countries, it is engaged in every aspect of the oil and gas industry,

Citgo Petroleum Corporation or Citgo, a subsidiary of Petróleos de Venezuela S.A., the Venezuelan state-owned petroleum company,

ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas.

With the exception of Aramco and citgo, the major oil companies are publicaly owned and owned by investors from nearly every country on Earth. At the moment Chinese investors seem to be the worlds biggest investors and own sizable shares of the oil companies.


Since I posted this, I found a Chinese company had moved up and is now the 7th largest oil company:

China National Petroleum surges to world's 7th largest(01/12/07)

The China National Petroleum Corporation (CNPC) announced in Beijing on Jan.11 that it overtook U.S. giant Chevron and France's Total to become the world's seventh largest oil firm in 2005.

Sources with CNPC said that the company's rising position was mainly boosted by its growing oil and gas reserves abroad.

In August 2005, the largest oil producer in China was approved to acquire Canada-based PetroKazakhstan Inc. (PK) for 4.18 billion U.S. dollars.

Source: http://www.china-embassy.org/eng/xw/t288629.htm
Governments do not drill for, refine or produce oil products. Corporations do.

Governments no longer control the world----- corporate profits do.

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