Somalia Oil Law

[QabiilDiid]

Attn: SOL legal minds....here is your chance. I do not like the percentage figures....it smells crab...is it something we can accept? Do we have a choice?

 

Somalia Oil Law

[me]

^Thats the presentation

 

Somali Oil Law Draft June 2006

 

Thanks Nayruus

[N.O.R.F]

Interesting,,,,a long disection shall commence,,,,

[rudy-Diiriye]

inta jiriy, i use to hear about somali oil... so where the hell is this oil? can some 1 tell me..

 

i guess we got alot of snake oil sales ppl!

[QabiilDiid]

Me, I know nobody has yet signed on dotted lines of this draft, but as Mr. PM Geed sounds it looks like it is a done deal. He says he has the backup of 85% of the parliament passing it as the law of the land which will probably empower him to go ahead with the Kuwaiti lady’s deal. No major company holding pre-1991 concessions has yet to declare their intention to come back to Somalia. The lady is confident that nobody will show up before the one year’s deadline. Probably, she has inside information they wouldn’t for political or safety reasons.

Or my guess is she is a hired agent by the major oil companies to have better terms than the concession agreements they had with the Siyad Bare’s regime. There no restrictive clauses stipulated in the draft denying her to resell her rights to a third party/parties.

 

However, Mr. Me, listen to this Somali Radio from Australia. The Kuwaiti lady apparently paid for the expense of writing the draft, and for that she claims she is entitled to 49% ownership of the proposed Somali Petroleum Authority entity.

 

I think this radio program is an eye opener for many of us, at least for me, to the behind the scene arm-twisting and maneuverings that many individuals and companies ( mostly in Nairobi) are engaged for scheming and strategizing to loot the Somali natural resources. Can you imagine 28 companies each claiming it has a signed exclusive concession for oil and mineral exploration on the whole Somali Republic’s geographical areas (Land and sea)?

 

Can the Somali intellectuals like president’s advisor in the program make sure that Somalis exploit their God-given resources like for example Sudaneses do?

[QabiilDiid]

I have fixed the audio...

[Miskiin-Macruuf-Aqiyaar]

Akbar said she is a

personal friend of Somali Prime Minister Ali Gedi

. Akbar is a chemical engineer who worked for state-run Kuwait Oil Company and Kuwait Foreign Petroleum Exploration Co. (KUFPEC) for 25 years before playing a role in the start up of KEC in 2005.

Kuwait Times [August 08]

-----------

 

Government documents obtained by Reuters listed Kuwait Energy's chief executive officer Sara Akbar,

a friend of Gedi's

, as one of the advisers to the administration.

Reuters [August 13]

---------------

 

Kan Fanaxle Xabashadda u adeego awalba wax quman kama sugeynin, waxa iga daran is that he will not stop until he must forcefully stopped. He is on the path of selling the whole country, which soon will include its citizens, to personal 'friends.' Shuud.

[Ms DD]

Salaam

 

The TFG wont be in power for long. So I doubt very much that Geedi or A/Yusuf will reap the reward. Unless they line their pockets and run and more importantly lumber us (Somalia) with contracts which would allow the big foreign oil companies into Somalia and tie us to them which we cant get out. With these production-sharing agreements which allows the country to own its oil, but gives a share of profits to the international companies that invest in producing the oil, Somalia could get locked in now to deals on bad terms for decades to come.

I cant believe that Geedi allowed the actual company who are grabbing major slice of the profits to draft the new legislation to be presented to the parliament?

 

Where are the Somali intellectuals to scrutinise these dodgy deals?

What worries me the most is the oil companies that will be able to exploit wadankeena oo qasan by securing favourable terms that cannot be changed in future.

On a side note, will these foreign companies be able to pay tax on their profits in Somalia? But this aint the current problem.

 

Allow noo sahal.

[General Duke]

^^^These are initial steps nothing has been agreed to. As for how long the TFG stays in power it already outlasted all other admins, from A/qasin,Ali Mahdi Aydeed and the clown courts who are now refugees in Asmara.