Africa in Review 2016: Neo-colonialism, Economic Sovereignty and the Imperatives of Socialist Development
NOVANEWS
By Abayomi Azikiwe
Global Research
Over the last several years along the Indian Ocean coast in East Africa substantial finds of oil and natural gas resources have been under development.
A British exploration corporation, Tullow Oil and its Canadian partner, Africa Oil, acknowledges that it has discovered in excess of 600 million barrels of oil in Kenya. At least eight exploitable and viable oil sources have been recorded beginning in 2012.
Neighboring Uganda as well has approximately 6.5 billion barrels of oil deposits which have been found since 2008. Another East African Community (EAC) member Tanzania is estimated to harbor natural gas resources in the amount of 50.5 trillion cubic feet.
With respect to the Southern African state of Mozambique, which is not an...