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Somalia takes big step towards licensing round

Mogadishu vote pushes major offshore find towards realisation amid rising security concerns

Somalia laid another significant paving stone on the road to its first ever licensing round to attract investment from international oil companies (IOCs) when the upper house of the federal parliament approved the third reading of its petroleum law in early January. But the landmark event coincided with a lethal wave of Islamist violence that may cause these same firms to pause for thought.  The legislation has been working its way through the upper and lower houses for the past seven months. This week, 28 senators—of the 54 that were elected for the 2016-20 parliament—voted for the legislation. “This is a major step forward for Somalia and its people as the Petroleum Law is approved by the

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