Economy Of São Tomé And Príncipe
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Economy Of São Tomé And Príncipe
The economy of São Tomé and Príncipe, while traditionally dependent on cocoa, is experiencing considerable changes due to investment in the development of its oil industry in the oil-rich waters of the Gulf of Guinea. History Under Portuguese colonial rule, sugar plantations were set up, and the islands were used for the transshipment of slaves. Oil reserves Geologists estimate that the Gulf of Guinea zone (Niger Delta province) holds more than 10 billion barrels (1.6 km³) of oil, although no reserves have yet been proven. A joint oil project with Nigeria in 2005 is likely to contribute $50 million of revenues to the government from the exploration licence signing fees. This represents four times government revenues in 2004. São Tomé is optimistic that significant petroleum discoveries under the exploration licence are forthcoming, though no crude oil nor natural gas has been found as of 2021. Agriculture Since the 1800s, the economy of São Tomé and Príncipe has ...
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São Tomé
São Tomé is the capital and largest city of the Central African island country of São Tomé and Príncipe. Its name is Portuguese for " Saint Thomas". Founded in the 15th century, it is one of Africa's oldest colonial cities. History Álvaro Caminha founded the colony of São Tomé in 1493. The Portuguese came to São Tomé in search of land to grow sugarcane. The island was uninhabited before the arrival of the Portuguese sometime around 1470. São Tomé, situated about north of the equator, had a climate wet enough to grow sugarcane in wild abundance. 2,000 Jewish children, eight years old and under, were taken from the Iberian peninsula for work on the sugar plantations. The nearby African Kingdom of Kongo eventually became a source of slave labor as well. The island of São Tomé was the main center of sugar production in the sixteenth century; it was overtaken by Brazil by 1600. São Tomé is centred on a sixteenth-century cathedral, that was largely rebuilt in th ...
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Petroleum Product
Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. The majority of petroleum is converted to petroleum products, which includes several classes of fuels. According to the composition of the crude oil and depending on the demands of the market, refineries can produce different shares of petroleum products. The largest share of oil products is used as "energy carriers", i.e. various grades of fuel oil and gasoline. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils. Heavier (less volatile) fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and other heavy oils. Refineries also produce other chemicals, some of which are used in chemical processes to produce plastics and other useful materials. Since petroleu ...
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Poultry
Poultry () are domesticated birds kept by humans for their eggs, their meat or their feathers. These birds are most typically members of the superorder Galloanserae (fowl), especially the order Galliformes (which includes chickens, quails, and turkeys). The term also includes birds that are killed for their meat, such as the young of pigeons (known as squabs) but does not include similar wild birds hunted for sport or food and known as game. The word "poultry" comes from the French/Norman word ''poule'', itself derived from the Latin word ''pullus'', which means "small animal". Recent genomic study involving the four extant Junglefowl species reveals that the domestication of chicken, the most populous poultry species, occurred around 8,000 years ago in Southeast Asia - although this was previously believed to have occurred later - around 5,400 years ago - in Southeast Asia. The process may have originally occurred as a result of people hatching and rearing young birds fro ...
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Bean
A bean is the seed of several plants in the family Fabaceae, which are used as vegetables for human or animal food. They can be cooked in many different ways, including boiling, frying, and baking, and are used in many traditional dishes throughout the world. Terminology The word "bean" and its Germanic cognates (e.g. German '' Bohne'') have existed in common use in West Germanic languages since before the 12th century, referring to broad beans, chickpeas, and other pod-borne seeds. This was long before the New World genus '' Phaseolus'' was known in Europe. After Columbian-era contact between Europe and the Americas, use of the word was extended to pod-borne seeds of ''Phaseolus'', such as the common bean and the runner bean, and the related genus ''Vigna''. The term has long been applied generally to many other seeds of similar form, such as Old World soybeans, peas, other vetches, and lupins, and even to those with slighter resemblances, such as coffee beans, vanilla ...
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Papaya
The papaya (, ), papaw, () or pawpaw () is the plant species ''Carica papaya'', one of the 21 accepted species in the genus ''Carica'' of the family Caricaceae. It was first domesticated in Mesoamerica, within modern-day southern Mexico and Central America. In 2020, India produced 43% of the world supply of papayas. Etymology The word ''papaya'' comes from Arawak via Spanish, this is also where ''papaw'' and ''pawpaw'' come from. Description The papaya is a small, sparsely branched tree, usually with a single stem growing from tall, with spirally arranged leaves confined to the top of the trunk. The lower trunk is conspicuously scarred where leaves and fruit were borne. The leaves are large, in diameter, deeply palmately lobed, with seven lobes. All parts of the plant contain latex in articulated laticifers. Flowers Papayas are dioecious. The flowers are five-parted and highly dimorphic; the male flowers have the stamens fused to the petals. The female flowers h ...
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Banana
A banana is an elongated, edible fruit – botanically a berry – produced by several kinds of large herbaceous flowering plants in the genus ''Musa''. In some countries, bananas used for cooking may be called "plantains", distinguishing them from dessert bananas. The fruit is variable in size, color, and firmness, but is usually elongated and curved, with soft flesh rich in starch covered with a rind, which may be green, yellow, red, purple, or brown when ripe. The fruits grow upward in clusters near the top of the plant. Almost all modern edible seedless ( parthenocarp) bananas come from two wild species – ''Musa acuminata'' and ''Musa balbisiana''. The scientific names of most cultivated bananas are ''Musa acuminata'', ''Musa balbisiana'', and ''Musa'' × ''paradisiaca'' for the hybrid ''Musa acuminata'' × ''M. balbisiana'', depending on their genomic constitution. The old scientific name for this hybrid, ''Musa sapientum'', is no longer used. ''Musa ...
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Black Pepper
Black pepper (''Piper nigrum'') is a flowering vine in the family Piperaceae, cultivated for its fruit, known as a peppercorn, which is usually dried and used as a spice and seasoning. The fruit is a drupe (stonefruit) which is about in diameter (fresh and fully mature), dark red, and contains a stone which encloses a single pepper seed. Peppercorns and the ground pepper derived from them may be described simply as ''pepper'', or more precisely as ''black pepper'' (cooked and dried unripe fruit), ''green pepper'' (dried unripe fruit), or ''white pepper'' (ripe fruit seeds). Black pepper is native to the Malabar Coast of India, and the Malabar pepper is extensively cultivated there and in other tropical regions. Ground, dried, and cooked peppercorns have been used since antiquity, both for flavour and as a traditional medicine. Black pepper is the world's most traded spice, and is one of the most common spices added to cuisines around the world. Its spiciness is due to the ch ...
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Cinnamon
Cinnamon is a spice obtained from the inner bark of several tree species from the genus ''Cinnamomum''. Cinnamon is used mainly as an aromatic condiment and flavouring additive in a wide variety of cuisines, sweet and savoury dishes, breakfast cereals, snack foods, bagels, teas, and traditional foods. The aroma and flavour of cinnamon derive from its essential oil and principal component, cinnamaldehyde, as well as numerous other constituents including eugenol. Cinnamon is the name for several species of trees and the commercial spice products that some of them produce. All are members of the genus ''Cinnamomum'' in the family Lauraceae. Only a few ''Cinnamomum'' species are grown commercially for spice. ''Cinnamomum verum'' (AKA ''C. zeylanicum''), known as "Ceylon cinnamon" after its origins in Sri Lanka (formerly Ceylon), is considered to be "true cinnamon", but most cinnamon in international commerce is derived from four other species, usually and more correctly refe ...
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Coconut
The coconut tree (''Cocos nucifera'') is a member of the palm tree family ( Arecaceae) and the only living species of the genus ''Cocos''. The term "coconut" (or the archaic "cocoanut") can refer to the whole coconut palm, the seed, or the fruit, which botanically is a drupe, not a nut. The name comes from the old Portuguese word '' coco'', meaning "head" or "skull", after the three indentations on the coconut shell that resemble facial features. They are ubiquitous in coastal tropical regions and are a cultural icon of the tropics. The coconut tree provides food, fuel, cosmetics, folk medicine and building materials, among many other uses. The inner flesh of the mature seed, as well as the coconut milk extracted from it, form a regular part of the diets of many people in the tropics and subtropics. Coconuts are distinct from other fruits because their endosperm contains a large quantity of clear liquid, called ''coconut water'' or ''coconut juice''. Mature, ripe coconut ...
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Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ...
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Nigeria
Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea to the south in the Atlantic Ocean. It covers an area of , and with a population of over 225 million, it is the most populous country in Africa, and the world's sixth-most populous country. Nigeria borders Niger in the north, Chad in the northeast, Cameroon in the east, and Benin in the west. Nigeria is a federal republic comprising of 36 states and the Federal Capital Territory, where the capital, Abuja, is located. The largest city in Nigeria is Lagos, one of the largest metropolitan areas in the world and the second-largest in Africa. Nigeria has been home to several indigenous pre-colonial states and kingdoms since the second millennium BC, with the Nok civilization in the 15th century BC, marking the first ...
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Niger Delta Province
The Niger Delta Basin, also referred to as the Niger Delta province, is an extensional rift basin located in the Niger Delta and the Gulf of Guinea on the passive continental margin near the western coast of Nigeria with suspected or proven access to Cameroon, Equatorial Guinea and São Tomé and Príncipe. This basin is very complex, and it carries high economic value as it contains a very productive petroleum system. The Niger delta basin is one of the largest subaerial basins in Africa. It has a subaerial area of about 75,000 km2, a total area of 300,000 km2, and a sediment fill of 500,000 km3. The sediment fill has a depth between 9–12 km. It is composed of several different geologic formations that indicate how this basin could have formed, as well as the regional and large scale tectonics of the area. The Niger Delta Basin is an extensional basin surrounded by many other basins in the area that all formed from similar processes. The Niger Delta Basin ...
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