Liberia: Hasty Oil Sale - Liberia's Legislature Set to Ratify Block 16

Dec 17, 2014 | Henry Karmo, Front Page Africa
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Monrovia: Like the scenario of oil Block 13, the National Legislature is set to ratify oil Block 16 despite the absence of the country's oil law that was recently validated by the body along with other civil society organizations. The Executive branch of government Tuesday, December 16, 2014 presented to the National Legislature one of the four remaining oil blocks for ratification before Friday of this week.

According to the communication from the Executive read in the plenary of the House of Representatives three companies are bidding for Oil Block 16 and if the agreement is ratified by the Legislature, the Liberian government will generate twenty -two Million United States dollars (US$22M) in signature fees. The agreement for the Oil Block was subsequently sent to the House Joint Committees on Judiciary, and Lands, Mines, Energy and Natural Resources with a mandate for the committee to report back to plenary by Thursday for final decision. Some lawmakers have raised concerns about the availability of the agreements regarding the remaining four oil blocks.