Petroleum Law Enhances Investment Clarity
BMI View : More clarity on Mongolia's regulatory regime for the oil and gas industry could enhance business security for investors as the country seeks to boost domestic oil production for fuel security. However, more upstream exploration is needed to further de-risk participation in Mongolia.
Mongolia's parliament passed a bill to amend the country's Petroleum Law on July 1 2014, promising to bring more clarity to the regime governing Mongolia's oil and gas industry. This is the first amendment to Mongolia's Petroleum Law since its inception in 1991. Some of the key changes include:
Extension of exploration period from five to possible eight years;
Weaker Growth Puts Pressure On Regulatory Revisions Mongolia - Real GDP % Chg