Namibia Plans to Tighten Presidential Grip Over Its Oil Sector
Market Intelligence Analysis
AI-PoweredNamibia's government plans to consolidate control over its oil sector by proposing an amendment to the Petroleum Act, transferring powers from the Ministry of Mines and Energy to the president's office.
Market impact analysis based on bearish sentiment with 67% confidence.
Article Context
Namibia, the southwestern African country that has become an exploration hotspot for the supermajors, is moving to consolidate control over the oil resources and nascent industry under the president’s office. Namibia’s government has proposed an amendment to the country’s Petroleum Act, Defense and Veterans Affairs Minister Frans Kapofi, who is also acting Minister of Industries, Mines and Energy, has told the lawmakers. The proposed amendment is aimed at providing for “the transfer of certain powers” from the…
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