Oil was recently discovered in the Country of Zambia in Africa as 12 samples taken from the district of Chavuma and Zambezi came back positive. The president has now formed a special cabinet committee which will select foreign oil firms who will conduct exploration of the find. No ballpark figure however was given as to how big the oil find is.
Zambia is already known to have oil as they can output 130 barrels a day. A far cry from their 12,000 barrel a day requirement.
Compared to Nigeria, Zambia seems to have a fairly stable socio-political climate as it was once a colony of the British. If ever Zambia becomes an oil exporting country, I hope this will alleviate the unemployment of the country which is pegged at 50% (2000 est.) Copper Mining is the traditional export of Zambia.
Time to update the CIA country factbook on Zambia.
Article here
Category: Oil
