10 Billion Barrels of Oil Discovered off Namibia's Coast | Vantage with Palki Sharma

A new oil deposit has been discovered off the coast of Namibia in southern Africa. The discovery was made by the Portuguese oil company, Galp Energia. Galp says that the deposit contains about 10 Billion barrels of oil. This adds to the earlier discoveries made by Britain's Shell, and France's Total Energies. Altogether, about 21 Billion barrels of oil have been discovered in Namibia so far, and more explorations are underway. Namibia has a chance to use these deposits to boost its economy, but that will take time. Oil production is unlikely to begin before 2029. Namibia will also have to find a way to prevent the Western energy giants from taking the lion's share of the wealth. Palki Sharma tells you more.

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Namibia | Oil Discovery | Galp Energia | Total Energies | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#namibia #oil #discovery #firstpost #vantageonfirstpost #palkisharma #worldnews vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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Namibia: A Country Divided | Free Documentary

Mumbai - A Tale of Contrasts: https://youtu.be/t6Rv1jwfGi4

Namibia has the third highest levels of income inequality in the world. 6% of the population own 70% of the land and here, the wounds of German Colonisation run deep. Between 1904 -1908, the Germans established concentration camps where the indigenous Herero and Nama people were interned. Up to 80% of them died in what Germany later recognised as the first genocide of the 20th Century. While the descendants of these victims, like Karvita, live on illegal settlements in constant fear of eviction, the descendants of these colonists continue to own most of the land and have no problem justifying their inheritance.

Most of Namibia’s vast natural resources are owned or controlled by foreigners. The diamond industry is dominated by DeBeers and the ruling Swapo party, widely seen as corrupt, is propped up by its historic ally: China. The construction and uranium industries are controlled by the Chinese and documents leaked in 2021 revealed that North Korea was illegally subcontracted to build the country’s State House.

Most of the country is sparsely populated, enabling nature to flourish. It’s home to one to one of the greatest wildlife populations in the world, including the only free roaming black rhinos. But these animals are constantly threatened by Chinese mafia while global warming is increasing desertification, threatening indigenous communities.
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