Tag: oil

oil industry

Lundin Oil exploration in Sudan and the Economy

The exploration of oil in a country can uplift the living standards of the people in the country. The problem is that many African countries that have oil deposits have difficulties managing their resources. Some companies find themselves in a constant war, something that destroys the economy. On the contrary, those are keen on managing their natural resources benefits a lot.

Creation of Jobs

engineers working in oil fields

Oil drilling is a complex task that requires both workforce and machine power. Once oil exploration begins in a country, the youths will get jobs in the mining wells. Additionally, with the availability of oil, other sectors of the economy will be active meaning that unemployment will never be a significant problem in such a country. For instance, the oil will have to be transported to various parts of a country, and the people of the nation will do all this work. Sometimes, unemployment is the primary cause of political unrests in many African states, and the best way to deal with such unfortunate situations is to create employment.

Economic Success

Can you imagine a situation where there was no oil? Life would have been unbearable. In other words, people would have a tough time moving from one place to another, which means that it will jeopardize the economy’s growth. However, with the availability of oil, goods, and people can move from one place to another to make the economy a success. Furthermore, you need to understand that some bi-products of processed oil are very significant in the economy. Some of the are used for tarmacking of roads to move goods and people more effective.

Creates Peace

Peace is essential for the coexistence of the human race. Sometimes, countries have to coexist in peace because they depend on each other in various situations. For instance, if the country is known for oil, may countries will try to maintain a good relationship with such a country because they do not want to lack the supply of oil. Similarly, the country with oil will also want to maintain a good relationship because there are other things that they need from other countries. The interdependence of various countries plays a critical role in fostering peace and the harmony of the world. However, oil drilling should be done with a lot careful to avoid polluting the environment.…