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Article: The World Bank congratulates Sao Tome And Principe on the adoption of its new Petroleum Revenue Management Law.
- Article from:
- M2 Presswire
- Article date:
- January 17, 2005
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M2 PRESSWIRE-17 January 2005-WORLD BANK: The World Bank congratulates Sao Tome And Principe on the adoption of its new Petroleum Revenue Management Law(C)1994-2005 M2 COMMUNICATIONS LTD
RDATE:01142005
Washington DC - The World Bank has congratulated Sao Tome and Principe on the adoption of its new Petroleum Revenue Management Law, praising the high standards of transparency and revenue management rules included in the law as very positive signs of the country's dedication to good management and use of future petroleum revenue.
The law creates an oil fund to be held by an international custodial bank and outlines the yearly amounts of the ...