Tanzania outlines new oil and gas production terms - Reuters
The agreement also sets a royalty rate of 12.5 percent of total oil or gas production for onshore or shallow operations and a 7.5 percent royalty rate for offshore production. An oil and gas expert on Tanzania said previous special terms for deep water gas set a royalty rate of 5 percent.
No.21 The Petroleum Act 2015 competent court in Tanzania or outside Tanzania; or (f) a person holding political position. (6) Where a person referred to in subsection (5)(f) is to be appointed as a Director General, such person shall resign from his office before assuming the office of the Director General.
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Libya says oil shutdown losses close to $2.6 billion. CAIRO (AP) — Economic fallout continues from a protracted blockade of Libya’s vital oil fields and ports, with losses close… CAIRO (AP) — Economic fallout continues from a protracted blockade of Libya’s vital oil fields and ports, with losses close to $2.6 …
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