Somalia eyes new oil law despite states' doubts

摘要

SOMALIA President Mohamed Abdullahi Mohamed Farmajo is poised to sign into law a new oil and gas code following weeks of debate in which lawmakers argued over fiscal terms, with several federating states distancing themselves from an exercise they claim is premature. The Petroleum & Mineral Resources Ministry this week insisted that suitors participating in last February's licensing exercise should submit bids by the 7 November deadline under a new legal framework that meets international standards and will transform the country. None of the 15 offshore blocks offered include acreage currently in dispute with neighbouring Kenya, and will not be "until the settlement is reached", according to the ministry.