Article
Chad's Oil Revenue Management Experiment in Crisis
Chad’s Law 001 on Petroleum Revenue Management is the centerpiece and principal governance “safeguard” of the World Bank-supported experiment designed to ensure that oil revenues benefit the poor. The government’s proposed amendment would gut the law, essentially stripping the legal framework of its strongest components... [The] ExxonMobil-led oil consortium has a responsibility to defend the revenue management system... If the law is amended as planned and ExxonMobil continues “business as usual”, delivering regular payments to the government of Chad, it risks being seen as aiding a government that may be acting against the best interests of its own people. [also refers to Chevron, Petronas, ABN Amro, Credit Agricole]