CHAD-CAMEROON OIL PIPELINE LAW AMENDMENTS CONCERN – WORLD BANK
January 1st, 2006
BY KEITH NUTHALL
THE WORLD Bank has expressed "strong opposition" to changes made by Chad to laws controlling revenues from the Chad-Cameroon Oil Pipeline. The bank is criticising the abolition of a Future Generations Fund, earmarking 10% of earnings for when reserves are exhausted, and also the identification of "security" as a priority beneficiary for oil revenues.
ENDS
THE WORLD Bank has expressed "strong opposition" to changes made by Chad to laws controlling revenues from the Chad-Cameroon Oil Pipeline. The bank is criticising the abolition of a Future Generations Fund, earmarking 10% of earnings for when reserves are exhausted, and also the identification of "security" as a priority beneficiary for oil revenues.
ENDS
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