ACEP welcomes release of final SEC rules to enhance transparency in Africa's oil sector

The US Securities and Exchange Commission,(SEC), has released final rules which will enhance transparency in Africa's oil sector. 

The rules will further ensure the implementation of Dodd Frank Section 1504, which requires oil, gas and mining companies to disclose payments made to governments of resource host countries. 

The payments include taxes, royalties, fees (including licence fees), production entitlements, and bonuses, consistent with Section 13(q), as well as community and social responsibility payments that are required by law or contract, dividends, and payments for infrastructure improvements.

The development, has been welcomed by the African Center for Energy Policy ,ACEP. 

In a statement by the policy think tank and signed by its Executive Director, Mohammed Amin Adam, it says the rules will enhance accountability and transparency.



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