Browsing: Oil in USA

  • Tanzania has been exploring oil deposits for more than 4 decades
  • The Late President Magufuli challenged the nation’s petroleum company to explore further
  • Uganda’s oil discovery in Lake Albert prompted further exploration in Tanzania’s Lake Rukwa basin

Tanzania’s oil and gas economy improved as the East African nation’s oil exploration struck substantial oil deposits in the Wembere-Eyasi basin earlier this week. The drilled wells have been observed to contain rich contents of hydrocarbon resources—which indicate the presence of oil deposits. There is oil in Tanzania but also a vast potential to expand the economy over the decades.

This victory comes after Tanzania’s oil, and gas economy experienced a significant shift in investment and commercialization, with extensive industry players such as ExxonMobil and Shell committing to exploring Tanzania’s potential.

Africa has made up five of the top 30 oil-producing countries in the world. While nations such as Angola, Nigeria, Algeria, Libya, …