Petroleum Africa
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Monday, October 5, 2015
The UN has proposed that Somalia enact a moratorium on oil deals until the country has the legislation in place for an oil industry. For its part Somalia is opposing the UN’s proposal, according to Finance Minister Mohamed Adan.
“It’s a sovereign issue,” Adan told reporters Friday in the Kenyan capital, Nairobi. “We will not welcome a blanket oil moratorium.”
The suggestion of a moratorium on oil deals is not a new suggestion, the UN issued the recommendation previously in 2013.
For the past 25 years or so the country has lacked anything close to a functioning government and has been plagued by civil war and an Al Qaeda backed insurgency that has been playing havoc not only in Somalia but in neighboring Kenya also.
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