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Article

27 Jan 2005

Author:
Michael Peel, Financial Times

Oil curse stalks Africa's new petro-state [São Tomé & Principe]

The government has begun developing rules and institutions for the oil sector that are either not present or are ignored in other resource-rich states. A revenue management law...sets up an oversight committee and requires the government to give priority to poverty reduction and spending on social areas such as health, education and infrastructure... [refers to Environmental Remediation Holding Corporation]