https://twitter.com/AbdirisaqOmer/status/1543892952455471105?cxt=HHwWgoCzpbudge0qAAAA
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Looks like B.O.T has competition.
NOC
National Oil Company is a world class 1 million cubic meters onshore oil storage facility. We are an independent third party storage terminal, store Crude oil, Fuel oil, Gasoil and Gasoline. The storage facility meets international standards, and attracts independent major and national oil companies to lease and utilise the facilities on a long-term sustainable basis.
This is good news for the consumers and the nation. As more competition means competitive pricing and availability of goods.
Do you know what happend to Trafigura deal?
My understanding is Trafigura supply the oil/gas to the likes BOT (Berbera Oil Terminal) and could still supply to Omaar group if both parties agree which is a certainty due to the scale that Trafigura can procure at.
This is competition of storage facilities which was previously limited to BOT and Dahabshiill. Trafigura can now use bigger ships(bringing prices down) to supply Somaliland due to increased storage capacity.
Also Trafigura was to build storage facilities to service Ethiopia but am guessing due covid and the turbulent situation over there things took a back seat. This will now be accelerated soon, as the EU and UK have committed to investing in the Berbera Corridor as as part of their 11 strategic corridors in Africa!
Just this week it was announced that Italians would be financing the cement plant in Berbera. A few weeks before that the Facebook backed 2Africa cable touched down in Berbera.
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Omaar Group is also now building a flour mill factory not far from the other one in Berbera. Very
original!
These big companies do have any idea about co-ownership investment?
Imagine if they just formed two big competing groups. Not only will they benefit economy of scale but they would have reapted the benefitts sooner and reach more people.
If they don’t, then they should just stop copying each other make your investments something different.
What’s disappointing is that they will be importing the grain and not sourcing local hence being close to the port and not to agricultural zones. They will be importing the oil too obviously.
A cement company would source most of the raw materials locally. Why not invest in coal,gold,iron, gems mineral mining. Why not invest in solar or wind turbines.
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