Audio By Carbonatix
Senegal has set up a commission of legal, tax, and energy sector experts to review its oil and gas contracts and work to rebalance them in the national interest, Prime Minister Ousmane Sonko said on national television on Monday.
President Bassirou Diomaye Faye, who defeated the ruling coalition candidate in a landslide victory in March, ordered an audit of the oil, gas and mining sectors after coming into office, and vowed to renegotiate the terms of contracts with foreign operators in the country if needed.
Authorities have not shared details on the audit or updates on any renegotiation plans.

Sonko said they were committed to their promise to the Senegalese people "to come back to these various agreements to re-examine them and work to rebalance them, obviously in the national interest."
He said the commission will have sufficient resources to look into the contracts and hire experts from abroad if necessary. He did not say how long the review would take.
The move comes soon after Senegal became an oil producer for the first time. Australia's Woodside Energy announced in June that its Sangomar oil and gas field had produced its first oil.
Gas production is also due to begin by the end of the year at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project, operated by BP.
Latest Stories
-
Ghana must take strategic approach to increasing state participation in mining — Dr Owusu-Sarkodie
6 minutes -
Ghana’s music is going global, but who’s preserving the story?
15 minutes -
Ghana’s extractive sector needs clearer, stronger policies — Ayi-Owoo
16 minutes -
Boga Ali Hashim features Bisa Kdei on new single ‘Susuka’
23 minutes -
Ghana must tie industrialisation targets to mining contracts — Ayi Owoo
34 minutes -
Ghana not getting enough public finance returns from mining sector – Dr Adu Owusu Sarkodie
35 minutes -
GoldBod announces renewal process for gold trading licences
37 minutes -
Multinational mining firms pay higher royalties despite lower output — Ken Ashigbey
46 minutes -
Ghana cannot exploit mineral wealth alone without foreign investment — Ken Ashigbey
58 minutes -
Ghana holds vast untapped gold reserves — Ken Ashigbey
1 hour -
Deploy National Service personnel for mineral exploration – Chamber of Mines CEO
1 hour -
Increase Ghana’s share in the value chain through partnerships, not isolation – Ken Ashigbey
2 hours -
AIB Ghana to release report on fatal Tema microlight aircraft crash today
2 hours -
Krachi East school feeding programme near collapse as cooks threaten boycott over unpaid allowances
2 hours -
Cedi’s depreciation does not make it world’s weakest currency — Hopeson Adorye
2 hours