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Senegalese Prime Minister Ousmane Sonko formally arrange Monday (Aug. 19) a fee tasked with reviewing the oil and fuel contracts the nation signed with multinational firms.
The PM made the announcement on nationwide TV insisting that the group of authorized, tax, and vitality sector consultants will work meticulously to verify all authorized facets are rigorously examined.
Sonko dismissed rumours of nationalization reiterating his authorities’s ambition to rebalance the vitality contracts within the nationwide curiosity.
READ MORE: Will Senegal leverage oil to transform its economy? [Business Africa]
The transfer comes after Senegal turned an oil producer. Australia’s Woodside Vitality introduced in June that its Sangomar oil and fuel discipline had produced its first oil.
Fuel manufacturing from the GTA challenge also needs to kick off this yr.
It stays to be seen what the fee’s suggestions will probably be and within the occasion of negotiations if the anticipated adjustments could be applied.
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