In 2017 the government of Sao Tome and Principe will create “specific” legislation to regulate and reorganise the distribution and marketing of oil products in the country, said on Tuesday in Sao Tome the Executive Director of the National Petroleum Agency.
Orlando Pontes was speaking at the opening of a seminar on regulation and restructuring of the sector in Sao Tome and Principe, downstream of oil production, which was attended by the Minister of Natural Resources, Carlos Vila Nova and various national and foreign technical experts.
“We are collecting subsidies to create the aforementioned specific legislation,” said Pontes, who admitted the possibility of this legal framework coming into force over the next year.
The Executive Director of the National Petroleum Agency said that the legal framework will contain provisions on access to the activity, the duties, powers and responsibilities of the sector.
Pontes said that Sao Tome and Principe will be supported in this process by the National Petroleum and Minerals Authority of Timor-Lest, which sent a representative to this seminar. (macauhub)