South Africa - 05

South Africa: MPRDA Update: Uncertainty to Continue into 2016

Despite negotiations between the oil and gas industry and the Department of Mineral Resources over aspects of the MPRDA Amendment Bill, the legislative process is unlikely to be resolved in time for the bill to be finalized in 2015 or even early 2016. As a result, the uncertainty for IOCs over key aspects of the

Mozambique - 03

Mozambique: Local Content Law: Unrealistic Expectations

On 21 October the Assembly of the Republic reconvened for its second session under Nyusi’s presidency after a nearly three-month hiatus. During that break, the country’s deteriorating economic position and rising political instability between Frelimo and Renamo have added to the pressure facing the government and will shape the parliamentary agenda. While Frelimo will likely

Libya - 04

Libya: Central Bank Urges Political Settlement

In the aftermath of the UN’s failure to broker an agreement on a unity government, the CBL in Tripoli issued a strongly worded statement this week outlining the financial and economic urgency for a deal. The central bank reported that Libya is exporting oil at “15% of its export capability” and predicted that prices “are

Russia - 01

Russia: Fighting Spirit: Oil Companies Limit Tax Damage

On 23 October the Russian government submitted the finalized draft 2016 budget to the State Duma, ending the period of high-pitched bargaining between the Ministry of Finance and energy firms over the additional fiscal burden. Oil producers have gotten away with a lighter tax increase than was originally announced by the Ministry of Finance: Instead

South Africa - 04

South Africa: Student Protests Reflect ANC’s Loss of Authority

Minister of Finance Nhlanhla Nene faced protests from both inside and outside parliament when he delivered his three-year Medium Term Budget Policy Statement (MTBPS) on 21 October. Nene’s MTBPS reflected South Africa’s weak economic position, but the event was completely overshadowed by the parliamentary precinct being overrun by students protesting against planned increases to the

Turkey - 01

Turkey: Ankara’s Shifting Foreign Policy Line

Horizon recently attended a private foreign policy briefing by a senior Turkish official that outlined important long-term policy priorities and strategies for Ankara. The official, who asked not to be named during the briefing, clarified a number of issues on foreign policy with the most recent change of ministers. Notably, the official confessed that Ankara

Indonesia - 05

Indonesia: Jakarta’s New Gas Price Policy: Implications for IOC Operators

Facing stagnant economic growth and a steadily depreciating currency, on 7 October the Widodo administration released the third phase of its economic stimulus package, aimed primarily at reducing the costs of doing business in the country. Of importance to IOCs is the government’s newly announced gas-price overhaul, under which it require “new” gas fields to

Libya - 05

Libya: NOC Forum Attempts Positive Spin on Political and Security Situation

Tripoli-based NOC Chairman Mustafa Sanalla and his officials drew a large crowd to their annual Libya Oil and Gas Forum in London this week. Among the attendees were senior personnel from various IOCs with operations and interests in Libya and British Ambassador to Libya Peter Millett, who came fresh from a Foreign & Commonwealth Office

Iraq - 02

Iraq: The Warlord of Baghdad: Abd’al-Amir al-Shammari

Always a powerful command, the BOC is gaining an even higher political profile under Staff Lt. Gen. Abd’al-Amir al-Shammari, a savvy Shiite officer who has hoarded over half of Iraq’s combat forces in the capital since the fall of Mosul in 2014. Notably, the BOC controls all forces in the urban districts of the city