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    Reuters: Tanzania Parliament Expected to Pass Petroleum Bill in Three Weeks - Lawmaker

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Summary

A delayed petroleum bill will be enacted in Tanzania within 3 weeks, Richard Ndassa, chairman of the parliamentary energy and minerals committee told Reuters

by: Erica Mills

Posted in:

Press Notes, Africa

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Reuters: Tanzania Parliament Expected to Pass Petroleum Bill in Three Weeks - Lawmaker

Tanzania will cap royalties for the production of oil and gas at 12.5 percent under the terms of a long-delayed petroleum bill expected to be passed by parliament within the next three weeks, a senior lawmaker said on Wednesday.

East Africa has become a new oil and gas frontier after a string of hydrocarbon discoveries, which producers hope to exploit to supply energy-hungry Asian markets.

Tanzania estimates it has more than 55 trillion cubic feet of natural gas but is yet to make any oil discoveries.

Read the full article HERE.

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