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
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
