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Apparently Eritrea has large proven oil reserves

Daily chitchat on Somali politics.

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Hararboy
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Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 6:07 am

:o
Are oil interests at the heart of the EU's £145m aid package to Eritrea?
Vittorio Longh
i
If the EU were serious about tackling the human rights crisis in Eritrea, it would surely have made its financial assistance conditional on true democratic reform

After months of talks, the European commission last week announced a new five-year assistance package to Eritrea worth €200m (£145m).

Officially, those funds are to support development in the energy sector and improve governance. In fact, it looks like another move to stem the flow of Eritrean asylum seekers to Europe while letting European companies exploit the country’s natural resources.

The grant from the EU development fund, the first from Brussels to Amara since 2009, has the full agreement of the EU’s 28 member states.

There must be no compromise with Eritrea's tyrannical Afewerki regime
Glenys Kinnock
Read more
In the view of Neven Mimica, the EU commissioner for international cooperation and development, the package will help to tackle the root causes of migration from Eritrea.

This year alone, the number of Eritrean asylum seekers arriving on Europe’s southern shores has exceeded 40,000 , and this is without taking into account those who die crossing the desert or the Mediterranean.

Mimica implies that Eritreans are economic migrants who flee the country because of poverty and unemployment, rather than refugees forced to escape the oppressive regime of Isaias Afwerki. In the European commission’s announcement there is little mention of the human rights crisis in Eritrea, and there is no concrete demand or condition attached to the aid package.

The EU is effectively suggesting that Eritreans don’t need to apply for asylum, disregarding the 500-page report released last June by the UN commission of inquiry on human rights in Eritrea. The report described a state of terror where the government denies basic rights and freedoms, while perpetuating compulsory and open-ended military service, forced labour, arbitrary detention and torture.

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UN commissioners are now trying to establish if those violations constitute crimes against humanity. In addition, the UN security council has just extended the arms embargo on Eritrea, due to the country’s alleged support of terrorist groups in the region such as al-Shabaab.

Father Mussie Zerai, an Eritrean priest who campaigns for refugees’ rights across Europe, believes the EU should now ensure full accountability and transparency on how those resources will be used: “European taxpayers’ money should not be wasted or, worse, it could strengthen the regime, contradicting Europe’s founding principles and values,” he said.

Unfortunately, in Eritrea’s development partnership with the EU, a key principle is the “non-imposition of any political and/or economic conditionality”.

If the EU is so keen on keeping refugees away from its borders, how about compensating the regime for the loss of income deriving from trafficking? While they’re at it, they might also want to cover the resulting loss of proceeds from remittances and the extortive diaspora tax on Eritreans abroad.

However, preventing asylum seekers from fleeing is not the only potential benefit to the EU arising from the agreement. According to the statement, the €200m fund will be used in part for the energy sector, allowing more space for private investors.

New research shows that Eritrea’s Red Sea coast has “massive oil and gas reserves”, but the endless conflict with Ethiopia and the isolation of the Afwerki government have left the country’s natural resources largely untouched.

That may well be why, for example, the former UK Conservative leader Michael Howard led a group of British businessmen to seek investment opportunities in Eritrea’s hydrocarbon sector in March 2014. Lord Howard is chairman of Soma Oil and Gas , a company that has been accused of bribing Somali officials to obtain a licence to explore and extract oil offshore.

In February 2015, Eritrean officials attended the Red Sea Oil and Gas summit in Dubai, where they said they were prioritising the petroleum sector as part of the country’s economic development, promising incentives to foreign oil companies.

Crushing repression of Eritrea's citizens is driving them into migrant boats
Dan Connell
Read more
Even more evident are the interests of Italy in Eritrea. The country is a former Italian colony and currently a major business partner.

Last year, Lapo Pistelli, the vice-minister of foreign affairs, was criticised by human rights groups for shaking hands with Afwerki during a visit to Asmara. He claimed he was going to start new bilateral relations and bring Eritrea back to the international community “as a responsible and indispensable actor to stabilise the region”.

A few months later, Pistelli played a decisive role in involving the Eritrean government in the Khartoum process, an EU-African Union initiative aimed at tackling the trafficking of migrants between the Horn of Africa and Europe.

In June this year, Pistelli became vice-president of Italy’s oil giant ENI, already active in 15 African countries. The decision was opposed by some left-wing MPs, who accused him of a conflict of interest and suggested he might have planned the move while still in political office.

A slum in Keren, Eritrea’s second-largest city Facebook Twitter Pinterest
A slum in Keren, Eritrea’s second-largest city. Photograph: SIPA/Rex Shutterstock
Regardless of the many accusations levelled at the dictatorship, which include violence and abuse by the government, and notwithstanding the fate of thousands of young asylum seekers who continue to flee the country, ENI provides a fairly glowing account of Eritrea.

In its webpage on the country, the company highlights mining and energy as sectors with high potential to attract foreign investment, and states that Eritrea has “some interesting oil reserves, but the exploitation licences have not been released yet”.

If the EU were serious about helping development in Eritrea and addressing the root causes of migration from the country, it would leave corporations’ interests out of the aid package. It would help to solve the border dispute with Ethiopia and make the funding conditional on true democratic reform and the respect of human rights. That would be the Europe of politics, not business.

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Re: Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 6:09 am

@revolutionary

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Re: Apparently Eritrea has large proven oil reserves

Postby original dervish » Sun Dec 20, 2015 6:12 am

You can't help but admire Eritrea. :up: :)

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Re: Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 6:17 am

You can't help but admire Eritrea. :up: :)
:lol: Have you been watching the news

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Re: Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 9:30 am

If Isias is deposed and Eritrea under a new leadership reestablishes its relationahip,with Ethiopia, I could imagine this oil would transform Eritrea to the Kuwait of East Africa because of its small population. Eritrea has beautiful women, beautiful coast, Italian architecture. Eritrea has the potential to be the tourist capital of east Africa. Rich Ethiopian middleclass will go to Eritrea for yearly holidays. The potential is there.

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Re: Apparently Eritrea has large proven oil reserves

Postby Oxidant » Sun Dec 20, 2015 9:50 am

If Isias is deposed and Eritrea under a new leadership reestablishes its relationahip,with Ethiopia, I could imagine this oil would transform Eritrea to the Kuwait of East Africa because of its small population. Eritrea has beautiful women, beautiful coast, Italian architecture. Eritrea has the potential to be the tourist capital of east Africa. Rich Ethiopian middleclass will go to Eritrea for yearly holidays. The potential is there.
The Eritrea-Ethiopia relationship could resume tomorrow if Ethiopia stops being a disposable condom for the West.

How can Eritrea shake hands with Ethiopia or hug their fellow brothers when the stretch of European domination hangs over their Ethiopian counterpart.

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Re: Apparently Eritrea has large proven oil reserves

Postby Oxidant » Sun Dec 20, 2015 9:54 am

I have read about these reserves years ago, originally discovered by the Italians. But Eritrea is playing their cards right. They will mature their fields with the help of Arabs, Iranians or Chinese involvement and sign agreement which benefits Eritrea unlike the deals most African nations have.

The most important resource Eritrea has is its strategic location, it pains the power that be, that an African nation can impact such a vital trading route.

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Re: Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 10:08 am

I have read about these reserves years ago, originally discovered by the Italians. But Eritrea is playing their cards right. They will mature their fields with the help of Arabs, Iranians or Chinese involvement and sign agreement which benefits Eritrea unlike the deals most African nations have.

The most important resource Eritrea has is its strategic location, it pains the power that be, that an African nation can impact such a vital trading route.
:ducktales:

Lol.. Eritrea has just missed out on the biggest oil price boom in history which started 15 years ago. Thats is how Dubai, Kuwait and the UAE got so rich. Now oil prices are going to be below 50 dollars a barrel for years to come. Eritrea is run by idiots whove managed to isolate themselves from the international community and destroy their own people. Look if Eritrea were against the west because they supported Ethiopia, thats fine but atleast find a few powerdul allys like Russia or China to help them get out of poverty and create industry and open up,their oil fields. Instead Afewerki went crazy and decided to imprison the population after the Ethiopian Eritrean war via permanent conscription, imprison or kill all the revolutionaries turned politicians and fund every terrorist group that was against Ethiopia like Alshabab and this gave the UN the excuse to put a trade and weapons embargo on Eritrea which has fucked them up. And now Isias is driving the population, the future of Eritrea to Europe. Isias isnt a smart man and is only dojng the TPLF a favour by weakening Eritrea

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Re: Apparently Eritrea has large proven oil reserves

Postby Oxidant » Sun Dec 20, 2015 10:41 am

I have read about these reserves years ago, originally discovered by the Italians. But Eritrea is playing their cards right. They will mature their fields with the help of Arabs, Iranians or Chinese involvement and sign agreement which benefits Eritrea unlike the deals most African nations have.

The most important resource Eritrea has is its strategic location, it pains the power that be, that an African nation can impact such a vital trading route.
:ducktales:

Lol.. Eritrea has just missed out on the biggest oil price boom in history which started 15 years ago. Thats is how Dubai, Kuwait and the UAE got so rich. Now oil prices are going to be below 50 dollars a barrel for years to come. Eritrea is run by idiots whove managed to isolate themselves from the international community and destroy their own people. Look if Eritrea were against the west because they supported Ethiopia, thats fine but atleast find a few powerdul allys like Russia or China to help them get out of poverty and create industry and open up,their oil fields. Instead Afewerki went crazy and decided to imprison the population after the Ethiopian Eritrean war via permanent conscription, imprison or kill all the revolutionaries turned politicians and fund every terrorist group that was against Ethiopia like Alshabab and this gave the UN the excuse to put a trade and weapons embargo on Eritrea which has fucked them up. And now Isias is driving the population, the future of Eritrea to Europe. Isias isnt a smart man and is only dojng the TPLF a favour by weakening Eritrea
The drop in Oil price is most likely economic manipulation to crush anti-West nations like Russia, Iran and Venezuela. The price of Oil will most likely raise again within 2-3 years period. Oil price should be around 70-80 dollars a barrel. Eritrea is like 6-7 million even if Oil price stays at 30-50 dollars a barrel, that’s a huge financial windfall for Eritrea.

Creating industry? What is exactly is this academia terminology? If more developed nations like Oman, Malaysia, Ghana don’t have real industry, what difference would Chinese or Russians make in Eritrea. What Eritrea really needs is military hardware and they are a military force today. Economically, in this modern world you will have to prostitute yourself to develop,

The UN reports and sanctions are political and economic warfare against Eritrea for not toeing the Western line in Africa. How is it possible for Eritrea to fund, arm and finance all these groups in the Horn which would be a logistical nightmare whilst they are “poor”?

Majority of “Eritreans” who claim asylum are Ethiopians. But you cannot stop people being economic migrants which other nations are richer than you, Ethiopia is experiencing the same fate.

Sure have the Eritrean government made mistakes sure. But they never have risked their nation’s sovereignty under the guise known as FDI and development.

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Re: Apparently Eritrea has large proven oil reserves

Postby PureQ » Sun Dec 20, 2015 10:54 am

Eritrea has the largest gold resources in East Africa. From what I have heard is that 40% is owned by the state. 60% is owned by the Canadian mine company.

Also, if you look at the Red Sea map, they are the closest to the oil rich Saudi Arabia and share several hundred of Islands with North Yemen which has oils as well but exploited by Saudi Arabia so it kinda tell us that Eritrea must have undiscovered oils around these Islands shared with North Yemen and Saudi Arabia.
Last edited by PureQ on Sun Dec 20, 2015 10:57 am, edited 2 times in total.

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Re: Apparently Eritrea has large proven oil reserves

Postby GAMES » Sun Dec 20, 2015 10:56 am

Good for them i guess. I hope it improves the life's of its citizens.

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Re: Apparently Eritrea has large proven oil reserves

Postby Hararboy » Sun Dec 20, 2015 11:01 am

I have read about these reserves years ago, originally discovered by the Italians. But Eritrea is playing their cards right. They will mature their fields with the help of Arabs, Iranians or Chinese involvement and sign agreement which benefits Eritrea unlike the deals most African nations have.

The most important resource Eritrea has is its strategic location, it pains the power that be, that an African nation can impact such a vital trading route.
:ducktales:

Lol.. Eritrea has just missed out on the biggest oil price boom in history which started 15 years ago. Thats is how Dubai, Kuwait and the UAE got so rich. Now oil prices are going to be below 50 dollars a barrel for years to come. Eritrea is run by idiots whove managed to isolate themselves from the international community and destroy their own people. Look if Eritrea were against the west because they supported Ethiopia, thats fine but atleast find a few powerdul allys like Russia or China to help them get out of poverty and create industry and open up,their oil fields. Instead Afewerki went crazy and decided to imprison the population after the Ethiopian Eritrean war via permanent conscription, imprison or kill all the revolutionaries turned politicians and fund every terrorist group that was against Ethiopia like Alshabab and this gave the UN the excuse to put a trade and weapons embargo on Eritrea which has fucked them up. And now Isias is driving the population, the future of Eritrea to Europe. Isias isnt a smart man and is only dojng the TPLF a favour by weakening Eritrea
The drop in Oil price is most likely economic manipulation to crush anti-West nations like Russia, Iran and Venezuela. The price of Oil will most likely raise again within 2-3 years period. Oil price should be around 70-80 dollars a barrel. Eritrea is like 6-7 million even if Oil price stays at 30-50 dollars a barrel, that’s a huge financial windfall for Eritrea.

Creating industry? What is exactly is this academia terminology? If more developed nations like Oman, Malaysia, Ghana don’t have real industry, what difference would Chinese or Russians make in Eritrea. What Eritrea really needs is military hardware and they are a military force today. Economically, in this modern world you will have to prostitute yourself to develop,

The UN reports and sanctions are political and economic warfare against Eritrea for not toeing the Western line in Africa. How is it possible for Eritrea to fund, arm and finance all these groups in the Horn which would be a logistical nightmare whilst they are “poor”?

Majority of “Eritreans” who claim asylum are Ethiopians. But you cannot stop people being economic migrants which other nations are richer than you, Ethiopia is experiencing the same fate.

Sure have the Eritrean government made mistakes sure. But they never have risked their nation’s sovereignty under the guise known as FDI and development.
Every country has industry. Even small countries like New Zealnd has industry. Industry could be anything from commercial farming to textiles. What you meant was a manufacturing industry.

And Afewerki has done a alot of bad things to his people. Even if you think theyre all Ethiopian migrants, you cant explain why Afewerki has closed off his country and ordered a shoot to kill policy for those crossing the borders even tho most are children. Lmao.. conspiracy theories about Ethiopia gets funny as youre treating Ethiopia like a country with significant resources and influence.

So I guess youre apart of the Afewerki fan club :lol:

Keep rooting for an oppressive dictator who imprisons his population, kills politicians and revolutionairies responsible for the liberation of Eritrea and allows the mass rape of women in the military just because he shares your disdain for Ethiopia, :up:


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