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
Also in this section
29 July 2025
The EU’s Russia sanctions could have far-reaching implications for India’s Vadinar-based refinery
29 July 2025
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
29 July 2025
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance.
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
