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Somalian Parliament Approves New Petroleum Law

Source: www.gulfoilandgas.com 1/6/2020, Location: Africa

The upper house of Somalia’s parliament on Monday approved a new petroleum law, which aims to provide a regulatory framework that will help to attract investment in exploration by major oil companies. The country currently does not produce any oil but production could transform the economy as seismic data has shown there could be significant oil reserves offshore. The new law will establish revenue sharing between the central government and states and will provide a legal framework for an industry the country hopes will bring jobs after decades of conflict.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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