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Oil Discovered On Mozambique Offers Hope To An Impoverished Nation

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Amidst major concerns for global leaders as oil and gas prices steadily decline, the impoverished country of Mozambique finds hope in the discovery of an estimated 20 billion barrels of natural gas off its coast. The country, one of the poorest in the world, has an undisclosed debt worth 1.4 billion dollars, however the discover could add 39 billion to its economy by 2035, according to an estimate from Standard Bank. The nation emerged as a giant in natural gas in 2012 when 85 trillion cubic feet of natural gas was discovered in the Rovuma basin. Although only a fraction of the reserves of larger oil-producing countries, Mozambique's 20 billion barrels would raise its energy profile to rank as the seventh largest reserve in Africa.http://www.cnn.com/2017/05/03/africa/...http://www.wochit.comThis video was produced by YT Wochit News using http://wochit.com


Mozambique Natural gas Christine Lagarde Gas Prices Petroleum Industry In Russia Petroleum United States Customary Units Peak Gas World Bank Natural Gas
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