Senegal’s New Leader Announces Audit of Oil, Mining Industries

April 18, 2024/in /by Rudolf Huber

Auditing oil and mining in an African country is theoretically a worthwhile exercise. But he will likely thread on many very powerful toes locally and they will bite back. Let’s see how well that goes. I guess he will then single out big multinationals as they are easier to deal with but those have a breaking point. Beyond a certain pain level, they will simply write off their operation and get out. And once they are out, they remain out. The world’s patience with erratic leaders of countries is running dry. And if there is any hope of filling the state’s coffers with cash from blackmail I have a feeling that won’t work well too. Also, what does Senegal’s stance do to the prospect of a West African Gas pipeline toward Morocco?

Senegal's New Leader Announces Audit of Oil, Mining Industries

The West African nation is preparing to open the taps this year on the $4.8 billion Grand Tortue Ahmeyim liquefied natural gas project.

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