Somalia's revenue law adds impetus to exploration drive
Efforts to attract investment to a 15-block offshore licensing round are gathering momentum
Parliamentary approval for a new petroleum law, which includes a revenue sharing agreement with the country's constituent states, should make Somalia's current offshore licensing round run smoother. But the focus on getting that legislation through has led to slippage in the timetable for the bidding process. An agreement between Somalia's federal government and the country's constituent states was regarded as crucial to avoid the licensing round procedure becoming bogged down in wrangling over the allocation of potential revenues from any future hydrocarbons discoveries between the central government and the states in whose waters they lie. The petroleum ownership management and revenue sha
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
