Mogadishu (SD) – Chairman of the Upper House Resources Committee of the Somali Parliament and Secretary of Foreign Affairs of the Himilo party Senator Ilyas Ali Hassan, has opposed the Somali government’s plan for the sale of seven oil blocks in Galmudug, Hirshabelle, South West and Jubbaland.
The Department of Petroleum and Natural Resources issued a decree yesterday for the first round of licensing, the planned sale will run until March 2021.
Senator Ali Hassan said the Upper House resources committee opposes the apparent plan, due to global oil price collapse and oil prices are now facing a significant fall. Adding that the sale now is a loss for the Somali nation.
“The sale of the oil blocks at a time when world oil prices are at their worst, and its been practically given away for free exemplifies poor planning of the country’s priorities during this difficult time” said the Senator.
Coronavirus has affected the global economy, forcing the Somali government to sell the stocks online from the fourth week of August 2020.
Its not yet known the regional member state’s position of the feds planned sale of the country’s recourses, there is no constitutional agreement on resource sharing and the political relationship between the member states and feds are non-existent.
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