Tanzania Opposition Calls for 10-Year Hiatus on Exploring Rights
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Tanzania should impose a 10-year moratorium on licensing offshore oil and gas blocks to allow for the creation of laws ensuring the country benefits from its natural wealth, Shadow Finance Minister Zitto Kabwe said.
Tanzania, the holder of East Africa’s second-biggest natural-gas resources, in June tripled its estimate of recoverable gas reserves to 28.7 trillion cubic feet. The government postponed its next deep offshore bidding round, originally scheduled to start tomorrow, pending the adoption of a natural gas policy by lawmakers. Parliament may approve the draft document as soon as October.