SA’s third big Jackpot: First Diamonds, then Gold, now it’s Oil from West Coast, Karoo - Lorimer
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- Опубліковано 16 лип 2024
- The DA’s James Lorimer believes South Africa is on the cusp of hitting a natural resources jackpot, as transformative as the discovery of diamonds in 1867 and the Witwatersrand gold basin twenty years later. In this uplifting interview, the Shadow Minister of Minerals and Energy explains how the offshore Orange Basin, which extends from southern Namibia to beyond Cape Town, has 10x the oil and gas potential of Total’s vaunted gas discovery off the southern Cape. Lorimer adds that after a tortuous process, revised legislation before Parliament will, finally, be aligned with global norms and thus acceptable to multinational oil majors. He reckons that given the prospective nature of the geography and this year’s rich strikes in Namibia, once the legislation is passed, the oil majors are likely to invest heavily in exploration. With each well costing around R500m and the nation pocketing roughly 60% of all revenue generated from oil and gas produced, Lorimer advocates making it possible to adopt an approach of “drill, baby, drill” by Shell, Total, and their peers - not just off SA’s West Coast but also to exploit the Karoo’s shale gas potential. Lorimer shared the excellent news with Alec Hogg of BizNews.
South Africans need change and a serious government to ensure that we as a country grow
Unfortunately people don't understand the root cause of their problems. Read Stephan Mitford's books (Former head of the South African Reserve Bank) The History of Central Banking.
And what has happened to Mosgaz? Now a white elephant!!
LOL
Don't worry if there is oil you will get a change of government its called "regime change" and its brought/funded by the USA. For an idea of how it works have a look at Libya, Syria, Iraq.
not going to happen the, cookie jar is broken and the goose is cooked
So much potential in S.A. So many resources yet so little political will to see shared among its people. It breaks my heart.
A few greedy at the top wand it all for themselves because the electorate vote on the racial lines
SA should have been the shining light of Africa but all the ANC (African National Criminals) has done is plunder and rape this country for all it's worth. They do not give a damn about anyone other than themselves. Why should they... they are fatter and richer than they've ever been, so why bother.
🤑🤑🤑🕳️🕳️🕳️
Those countries are signed with Russia to industrialise their resources. America and France have been told to ‘go home’. Those countries are united as a continent, something the west was afraid of!!!! They now have a new future.
Get it in your small brain.....its the end of the road for fossil feuls.....South Africa is not situated on the Moon !!!
Its Mozambique, SA, Namibia and Zimbabwe: gas and oil. We need peace and good governance to turn the region into a heaven on earth. ❤
Why are no white people in the ANC gov.?? I mean with any measure of competence ??
You only have to stop the western parasites and prepare to defend any leader willing to fight for your wealth like we never did for any of our murdered leaders in history. Not allowing another vile crime like the one against Saddam and Gaddafi.
You call yourself Green Peace and at the same time promote Fosil Feuls....what kind of a stupid are you ?????
SADC is goated and china just substituted US grain with SA grain
Nope. We need rebooted voters. Same moronic voting decisions will get us the same politicians will get us the same lousy outcomes. We thoroughly deserve to be in the meas we are in.
May we pray that God give us leaders who have their people at heart not the foolish ones who would want for everything to benefit only them and their close circle of friends. Let's go out there and vote wisely people!
I am afraid that if the DA and these black DA leaning parties were to win the elections, all the yields from these oil discoveries would be controlled by cruel USA and their Western satellite countries. We should really vote wisely.
The proceeds of any resource found in SA will simply go straight into the pockets of the connected cadres & zero will be used to develop any sustainable enterprise but simply used up or sold off until there is nothing left - an all too familiar scenario in the current state of affairs.
Similar to the Gold it has been plundered looted when its un mine able the Global cartels fund zama zamas to continue the looting
Not Shell or BP?
A pity the government is the most corrupt government in Africa and don't care about the normal citizens who are suffering
Not anybody. IT IS TOO LATE ! Save it underground for the future generations that will NOT EXIST if it is exploited now.🤔🌏❤
No it will go into whichever multinational company gives the corrupt leaders peanuts
Brave men and women doing the exploration work.
This oil should be locally refined. THAT will benefit SA. Extraction direct to tankers and sent off to global refineries benefits them and not us. When are we gonna stop giving away all our natural raw product and then importing it back at massively inflated cost?
You wanna know why it has taken so long? Simple. They needed us desperate enough to agree to this BS.
Start the audit right now. Throw the transparency wide open so that every last citizen of SA can watch how the world milks this one assisted by the greedy thugs in parliament and how it uplifts Mr. and Mrs. citizen not one solitary iota.
IF you think I'm just being negative, what have you got to lose? Do it and prove me wrong.
You are definately NOT WRONG BUT DEAD RIGHT👍👍👍👍👍
Will the poorest of the poor in Africa benefit from this or will the Economic Demographic remains the same?
It should enrich SA an obviouse thus our goverment needs to use money wisely....more wisely.
Take a guess. My moneys on the big conglomerates will plunder to their delight. The world is one big orgy of greed.
Will the people of south Africa benefit from this?
@@anomalousviewer3164 We should and must. Amen.
@@weymouthesterhuizen1145 Many millennia ago many sages came to a universal truth that concludes "Ignorance is the greatest EVIL in the entire Universe". You sir, are in addition, jointly afflicted with terminal naivety! It is singularly amazing and simultaneously baffling that your condition has not been life limiting!
Eskom or the energy minister should give the citizens of South Africa daily updates on what is happening with our existing power structure, what the issues are maintaining it and what plans they have for increasing South Africa’s energy infrastructure.
Please help me understand our OIL is drilled right here on our Soil, it goes out of our Country and when it comes back government is ONLY getting 60%. It looks to me like the same playbook of our gold and diamonds.
If 100% is required then 100% of total cost from exploration to point of trading would need to be covered by the sa government.
In 1967 my grandfather went to visit Germany, his home country, and got 8.00 german Mark for 1.00 Rand, now the equivalent of about 4.00 Euro.
Then fast forward 1994. 1 mark equalled R3
Now it 15 rands
A colleague from Namibia has a brother who worked for the old Soekor organisation. 15 years ago, he maintained that he had seen prospecting data that showed massive deposits of oil and gas just on the border of SA and Namibia. Soekor was no longer many, many years ago and so one wonders why it has taken so long to get this into the sunlight???
yes... there are big gas deposits, they were drilled/explored long ago ~ but however proved to be on the Namibian side of the Orange river.
@@psystealth we could drill and steal it
America and the ANC are about to make our lives hell for this.
🤣🤣🤣
the ANC has
You truelly understand what is happening in our country
A blessing. Hope this picks up the economy and eases the burden placed on struggling citizens. Pray the government wakes up to this great opportunity 🙏
America and European countries are definitely coming for us
The true perpetrators has been very efficient at projecting their criminality onto others. Look up Stephan Mitford and read his books. Former SARS governor.
@@cryptostormer2512 since you've read the book how about you share the "wisdom" you got there with us..
@@lee...-cz1xq They own the world in a nutshell. British Empire and its children. Banking, money, political muscle, and military control. And I haven't even read the book.
They will never destabilise SA cause remember they get a lot of minerals from SA plus they love our coal again we have white people who own almost everything that they still need to protect
Centr@l b@nks, multin@tion@l corps and gvts all over the world in a left-fascist collusion to make/keep everyone poor except themselves under central gvt of UN. To achieve this aim, they have to keep us squabbling about race, gender, feminism and other unimportant issues, while they run off with the world’s resources and enslave us.
We have a total rail network with almost all traffic going per road. We all know what will happen.
Yes! Access to abundant, relatively low cost energy (read: carbon based) is essential to lifting South Africa's people out of poverty.
But pls not in the hands of the ANC,we had enough of the ANC and its cadres!!!
We need to vote them out. Footsek ANC
Ooops they our million dollars or rands goes right into them deep greedy and corrupt pockets and would still be blaming colonialism in years to come.
Thank God. I would say it is because we went through allot and more and more are getting spiritual and want SA to work as a Nation in our prays...... for The Rainbiw Nation....assuming this belongs to SA as a comoany or we as a nation benifit most of the profits made and money kept inside SA.... This is indeed good new for all SA citizens. God bless SA.
I like your comment,it's very positive and mature. I support you.
The same crooks will still be around and pocket most of the proceeds...When ever did "they" care about the poorest of the poor?
@@mayormsuthu1465 ditto. With all failing.....we have each other to support motivate and to build. It is destroyed....now I trust we can elevate......I dont wanna see more destruction of our Nation....we are better and can be better. Amen. God bless and thank you for your encouraging comment. Appreciated. We pray for words to fall on the ears to do right for SA.
@@susanpienaar5267 We pray for less to nothing to them....and so the glass can get full and full......and over keep on over spilling. So much has been robbed....we must go up up up up up. Must...have to...for SA.
Uncle Sam be observing and thinking, "South Africans will be needing "real democracy" soon..." 😅
They're probably already here! Let us destroy ourselves and then come in and "pick up the pieces" Evil b*stards!
hahahaaaa yea..we better be prepaired..!! lol
And the Yanks will invade to save us fuuuuuck
@@doepieduplessis7163 Well, fire up one of your carriers and pay them a visit ! Before the Chinese do it; oh, wait, too late ! They're already there !
Well, fire up one of your carriers and pay them a visit ! Before the Chinese do it; oh, wait, too late ! They're already there !
How exciting is this lets hope we have a new government so that it can be fully exploited for the benefit of our people. Thank You BizNews
Angola has had vast reserves of oil being explored since the seventies , yet there has been very little development in the country and the locals remain some of the poorest populations in the world , the beneficiaries are the top officials and Collective West Oil companies
Nigeria became Africa's largest economy by exploiting its oil. So it's all about how a country chooses to do business
@@vik4741 Average Nigerian is dirt poor and the place is a mess?. So what is happening to these amazing benefits?. And when these resources dry up - what then?.
@vik with 80 million plus nigerians living in abject poverty
@@godfreyberry1599 Yes they are still poor because they are a country of 213 million people. So even though the oil helped them out, they need a whole lot more than that. In fact, they need to more than double their economy to handle that population, but you can't deny that the oil helped them out, they just need more for their population size. We as South Africa fortunately don't have that problem.
@@akhonazasembo3016 because of a population of 213 million people. The oil did help them out, but their population size needs more than their oil discovery. It's like giving a man who has 6 kids a R10000 job. You have helped them out and improved their situation, but they will need more than R10000 to feed all 6 kids, but you can't deny that the job improved their situation
Making it law, South Africa has to have gas companies set aside a percentage of gas produced for South Africa.
The Gas company will drill in South Africa and pump it to Namibia where it will process it then sell it back to South Africa at a higher rate.
In Western Australia, more than 10 years ago, the state government made it compulsory for gas companies to set aside 15% of gas produced for state consumption. At that time, the other states of Australia laughed at this. Today, these states have been paying high prices for gas. The irony here is that Australia is drowning in gas.
This is great news as long as the people of this country will also benefit from the profits generated by these international companies and prevent any potential politician, businessman or any other individual from stealing the money meant for the benefit of the people of South Africa.
10000000%WELL SAID👍
That would be nothing short of a miracle.
It’s the international ones that steal the real money. Don’t be deceived.
Hardly likely - just another resource to be plundered.
I wouldn't be so sure. France mined uranium in Niger and gave that country a very small piece of the profit share. So a local company in partnership with the government is must to ensure we benefit.
I remember watching a Prophet a few years ago who prophesied that Corruption in South Africa will be dealt with and will go away and that South Africa will soon discover the largest gold find ever to be found anywhere on Earth!!!
The Almighty Father will fulfill the prophecy 👍🏾
Some years ago, a prophet on faith connection, China will not have SA . Hallelujah
Who is that prophet?
The same way the Saudi, the Danes, the Kuwaiti's run their oil companies we should do it here or sasol and petroleumSA must explore and extract themselves.
With the corruption I'm not getting excited. Also worried about fisheries
Sounds more like a Namibian finding or discovering than a S.A one.
Many years ago I came across an article in which Siener van Rensburg prophesied that we would find a huge underground water reservoir in that area which would be more than enough for the whole country. Either the seer saw gas and thought it was water or the exploration companies found the water and think it's gas.
I think there is a huge aquafir in the Karoo and that is why the gas issue is going to be a fine balance as the water used in the gas drilling will flow into the aquifir and cause huge amount of environment damage. Secondly I hope we can keep it the oil and gas out of the grubby hands of the ANC.
@@TheSilmarallion Without GOD Almighty, no real hope I BELIEVE only in, STOP sinning repend... STOP stealing, MURDER and speak TRUTH... , only then SA Wil succeed
🙌
@@TheSilmarallion true and the globalists. We can build South Africa to a 1st world country if bribes and greed are stopped. Citizens off South Africa need a better life
Van Rensburg was true prophet
So the question is do we follow the Gulf Arab States model of creating a local company to produce and sell the product for the benefit of the entire country, or do we follow the Africa/Nigerian/Angolan model of finding an international company to exploit it and line government pockets?
unfortunately our leaders are not wise enough, they give Europeans too much power on everything again.
I support your opinion
I hope the people at the top follow the footsteps of the Arabs
We must nationalise our resources.
Both government and private companies. A government company should drill to fuel cars cheaply. Whilst private companies drill to sell outside
Thank you for a most informative interview which was conducted in a very clear manner.
We cannot ignore fracking for environmental reasons when our provincial and municipal conservation areas are in an absolute dire state of affairs! And no one is talking about it!
If you think about how bad our ANC town's roads etc are, now think about what is going on inside the municipal and provincial "conservation" areas!
That is why the China and Russia want South Africa !! The minerals!!!!
Forget it... The ANC wants 30-40% of this investment for themselves and their BBBeee cadres... Eish... How dare U eat alone.... Hahaa
Their probably gonna make deal with some European nation to process it for a cut god help us 🤦
I recall reading in a book "The age of Oil" that oil does not generate that much economic benefits to the general population , Norway is the exeption because their government saves its revenue in its State owned investment funds , so for S. Africa corruption could destroy the benefits .
Will DEFINITELY destroy any benefits!.
Right now it feels as if we are both literally, and figuratively being kept in the dark.
Why do i think that the anc already sold this. And none of South Africa will profit from this.
Im from the Westcoast and i say it would be nice if they strike jackpot here .
There is so much grace upon the nation of south africa , i wish the citizens can realise that and carefully use all the opportunities that God keeps on giving them
The government in South Africa must remove corruption urgently then South Africa will grow at a fast pace and all its citizens will benefit from the resources we have.
They have already told France and America to go home. The countries are now creating a continent!!!
😂 The Government is the source of the corruption!!!
There you go,,we have enough gas to generate electricity,,our only obstacle ANC government
Will we see US military bases going up with or without regime changes?
Oil is curse. Look how England and the gold causing the boer war.
Quite possible. The USA wants total control of the planers resources.
No we will see Chinese developing ports and naval bases ....
Very true.
Mozambique discovered gas and oil around 2008, Hillary Clinton visited Mozambique in 2015, ISIS started attacking in 2017.
If only it will not be exploited by the Anc and cronies.
Good news for Mr ramcouch dollar.
Will definitely need to buy more couches to store the oil and gas dollars
🥴 You are só right!
To create more jobs.can we refine oil here in SA?
Saudi Arabia signed a deal to build us the refinery plant but i dont know what happened to that
Wonderful News...
If we have a lot of gas, coupled with solar and wind energy, we can probably solve loadshedding.
Gas is exactly what you need to make solar and wind work, because it can spin up quickly to fill in variation in generation from solar and wind.
Norway richest country in the world because of competent governance. Would have been so without oil also, just not as rich, for the same reason.
As to fracking - its a no, no. It will be disastrous for the environment - geo engineering to put it mildly, that will add to climate change on the long run.
People are hungry … to hell with climate change
Now you're going to find more dollars in someone's couch.
brilliant!!!!
Mozambique has some of the largest gas resources, did it uplift the country ?
Leave that resource just where it is till we have a new government. Otherwise that 60% is guaranteed to find its way into personal bank accounts instead of reaching us.
As long as we do not give it all away to the oil corporations. Ensure we as South Africans are the major beneficiaries.
So..does this mean that we can expect some "democracy" raining down on us from the "exceptional" country?..
I guess we about to get ''Afganistaned''. Explains alot thats been happening lately!
What happened after all the Brullpadda hype a few years ago?
Hype, hype, hype but no products.
The Namibian oil has been known for a long time. I saw maps of it in 1987.
There is oil and gas everywhere in the world, but not always at a depth worth exploiting.
It would be handy if SA refined here. We have a grand tradition of exporting our raw materials / resources and not assing value in order to expand our industry.
God bless South Africa
You guys heard of MossGas, surely the discovery was made more than 40 years ago.
If we had a proper government we would be richer than Australia or Canada and our currency would be crazy strong. We should have a 2 Trillion USD GDP at least
The government is proper but the resources are owned by others!
God, this sounds so positive. We need it so much🙏 please let it remain positive.
Orange river system hold massive green potential ,tapping this resource makes more sense and may be more beneficial as water will secure our future.
Those who stole our diamonds n gold left the majority of South Africans poor poor poor n the rich rich rich. This is the DA
We gonna get some of that good old american "freedom" and "peace" very soon
True story.
Mozambique is already having it
@@LesegoMakgorogo really? How?
Maybe the glorious Chinese Communist Party will come to protect South African freedom for a small price? I’m sure our wise and knowledgeable electorate will welcome that.
Very soon
this is looking good for south africa
Just can't get organized because we just can't get organized 😢
Great news 😊
There is another thing hampering oil and gas in SA. The currents are much stronger off SA.
EXCELLENT FOR OUR COUNTRY
Footsek ANC. Time to vote them out. We need cheap petrol and diesel. Drop the fuel levies. ANC government needs to go. DA all they way.
DA doesn't have the interest of the majority.
Absolutely true. Unfortnately a meaningless fantasy.
Make South Africa a beacon of good governance and shared wealth for all its people.
Give 70% beneficiation to our own people, 15% to other African countries, and 15% business to trade partners.
Please dont be greedy. Remember to leave enough for the future generations to benefit!
Hahahah how entitled can we be? So foreign companies extract, must do all the work... Lazy citizens just reap the rewards??
What is the reason for load shedding at midnight or 2 AM in the morning when the demand for electricity is presumably at its lowest? Has anybody ever asked this question and has it ever been answered?
Don't let the USA and EU lecture SA about using this recourse. The EU already tried to stop Uganda exploiting their oil field but were sent packing.
Fracking in Karoo.. such a pity. So bad for enviroment and uses so much water in a water scarce region...
We can have these oil/gas finds but it makes no difference to us RSA consumers... Sick
Okay, time to reclaim Namibia!!!📍📍📍
SA needs a change in Government. Than we can prosper and be on top of the Continents economy. We need to prosper and be a Country who can chooce and sell and be strong and be a country who can look after its citizen with no Hazzle
We are South Africa.
' all pockets on call again '
But, the maritime boundary off the Orange River mouth between Namibia and South Africa was defined back in ca. 2004/13 when Forest Oil was prospecting the Ibhubesi Gas Field. Bowman and Gilfillan' Oil and Gas division was involved, the maritime attorney was the late NTunbridge, afaik.
The S2EMG was designed by a South African. It is a unit that generate electricity. It come in all sizes. No overhead lines required, no maintenance, no municipal cables etc. This is the future for electricity supply. You put the unit at the source of use. Imagine, you do not require to re-charge an electric vehicle. Good for boats, shiips, planes, mines, factories, house holds etc etc
Wouldn't a better system to barter our oil for goods seeing that the FIAT currency is pulled out of thin air?
A hole was drilled near Steinkopf, there is oil. Same as for Etosia in Namibia..
NOW the comrades are going yo reeeeeaaaalllyyy eat.
🤣🤣🤣👍very true they don't care about our people
Oh boy, oh boy, and we thought the Anglo-Saxons and the Vikings are leaving in droves escaping from crime , and now this! They will never leave now. We are stuck with them! Another resources curse!
Thanks gents,possibly very good news,hopefully a sovereign wealth fund comes out of this,that can prop up our social welfare system and reduce the burden on the taxpayer.
And create more dependents with no hope of getting out?
@@lr6477 Just making the point that at the current rate social grants are not sustainable,they have never been.
22:00 Why did they remove the oilrig near Mosselbaai? I watched it towing away to ? China
All the more reason for the Cape to seek independence. Imagine the corruption if the ANC controls this oil find?
There is a lot of bank accounts to open before any extractions
Diamonds... Gold... Oil....
Something you missed though, was in 1994 South Africa struck Shyt too.
Another resource for ANC enrichment
Are these fields on the West Coast Oil or Gas? If both which is more? Which is less damaging to the ENVIRONMENT and more economically viable to extract, oil or gas?
Ain't no WC is getting independent
Why not?
Good times to live in
Oil discoveries on the Namibia and Northern Cape were being made back in 2005-8.
The Western Cape government and Wesgro should build oil rigs at Saldana Bay, a steel smelter could run on natural gas.
Shale gas is more expensive, leaks for years afterwards.
Gas and oil is solid contenues and cleaner
Wow does the interviewer really think the DA and the guest will rule South Africa after next years election? 😂😂😂😂 never heard so much crap in my life 😂😂😂
Where in Beaufort West is this discovery? Which town will be the epicenter of all of this boom?
This is not new news, as a child in the early 60's my step grandfather had a geologist friend who had been commissioned to explore the field and reported that there was a lot of oil. He was stonewalled after the discovery. A friend also in the early 60's had family whose land had been expropriated in southern Namibia, then SWA, after black sludge had been discovered when looking for water.
Well it make you think why the company's that is finding diamonds in west cost are treated