Mozambique: Water shortage could affect power production at HCB
Norway suggests more transparency in natural resources
12:31 CAT | 22 Feb 2016
Norway, known as a model of transparency in the management of natural resources, says that Mozambique should manage the tax revenue from the hydrocarbon exploration for more diverse social development in order to strengthen the country.
A delegation from Rystard Energy Insight, a Norwegian institution for the promotion of transparency in the oil and gas business, visited Mozambique and held a working meeting with members of the Mozambican parliament.
The theme of the meeting was the need for a transparent management of oil revenues, so that it can drive the development of other sectors.
The delegation stressed that transparent management is essential if Mozambique wants to avoid its many natural resources becomes a curse, as has happened in many other African countries.
Over the past five years, Mozambique discovered estimated reserves of about 170 trillion cubic feet of natural gas in the Rovuma basin in the north of the country.
According to Rystard Energy Insight, in 2050 Mozambique will be able to raise about US$195 billion in tax revenue from oil exploration, and will be the second largest producer of hydrocarbons after Australia.
“This important data requires us, as members of parliament, to legislate for the transparent management of natural resources,” said Francisco Mucanheia, chairman of the parliamentary Committee on Agriculture, Economy and Environment, after the meeting with the delegation.
Source: VOA Portugues
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