The Democratic Republic of Congo (DRC) will adopt a new law regulating its oil and gas sector by April according to reports. The new law will require all potential investors to go through a tender process.
The country’s oil minister, Crispin Atama Tabe told Reuters “In our code we've integrated the principle of the tender for all hydrocarbons rights purchases. The ministry will also open a website, so that all the different contracts will be immediately and systematically published.” This is the country’s first real bid toward transparency and it is the first legislation passed specifically targeting DRC’s oil production.
Aspects of the code's environmental requirements are currently being worked on before it goes before parliament in March, Atama said. “At the latest, by April it will already be adopted.”
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