Sunday, July 30, 2017

Somalia- Who is the new muscle-man in oil?

(Africa Intelligence)- With Mogadishu wanting to get the country’s oil exploration back off the ground, the oil and mineral resources ministry has a new boss, Abdirashid Mohamed Ahmed.

Appointed at the end of March by new prime minister Hassan Ali Khaire , himself appointed by the freshly elected president Mohamed Abdullahi Mohamed Farmajo.

Ahmed had worked for the previous administration as minister of trade and industry from November 2015. This position gave him the opportunity to forge ties with investors and foreign governments, contacts that will help him coax oil companies back into the country. The new minister, who replaces Mohamed Mukhtar Ibrahim, is also said to be very close to former head of state Hassan Sheikh Mohamoud.

The previous administration had set the launch of the country's first licensing round for the second quarter of 2017 . Nevertheless, Mogadishu will still have to come up with convincing arguments to encourage oil companies back with piracy still a threat along Somalia’s coastline.