[2019-04-11] Draft decree on local content in Angola submitted for public consultation in May

Source: Macauhub

The draft presidential decree on policies, principles, objectives, procedures and integrated development of local content in Angola’s oil sector will be submitted for public consultation in May, announced the Ministry of Mineral Resources and Oil.

The statement cited Minister Diamantino Azevedo as saying that this project is intended to give Angola competitive and efficient national companies, “taking into account the system of free market competition.”

According to the statement, Azevedo called on oil companies to comply with the training and human resources plans, promoting the recruitment, integration, training and technical development of Angolan leaders in the oil sector.

The minister also announced that the new model for imports of oil products in Angola will be applied only from June 2020, when the fuel subsidy is scheduled to be withdrawn.

During a meeting of the Interministerial Commission for Follow-up on the Readjustment of the Organisation of the Oil Sub-Sector held in Luanda, Azevedo said that the actions envisaged as part of the sector restructuring process had been carried out “successfully.”

“A large part of them went through legislative initiatives that led to the creation and takeover of the Board of the National Oil and Gas Agency (ANPG) and the approval by the National Assembly of the review of Law 10/04 (Law on Oil Activities) and Law 13/04 (Taxation Law), which make the transfer of the concessionary function of Sonangol EP to ANPG official,” he said.