Quartz
Tullow Oil, the UK company responsible for some of the biggest recent
frontier petroleum discoveries in Africa and South America, may have
broken open yet another new petro-state. It is Ethiopia, a
long-troubled, largely agricultural nation that imports all its oil and
gas.
The company announced today
that it found hydrocarbons in the south of the country in a
much-discussed geological formation that extends into Kenya and Uganda.
Estimates are that the entire formation may hold 10 billion oil-equivalent barrels (one billion barrels is called a super-giant).
