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Lu Olo Vetoes 2019 State Budget

Thursday, 24 January 2019 18:31 Written by

DILI: Timor-Leste’s President of the Republic has vetoed the government’s 2019 general state budget, but criticised the government’s prioritisation of buying foreign assets at the expense of devoting attention to education, health and other public services.

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High Court “Could” Step In On Revised Petroleum Law Decree

Wednesday, 23 January 2019 15:10 Written by

DILI:Timor-Leste’s High Court could stop the approved decree that allows use of the country’s petroleum fund for a $650 million buyout of Royal Dutch Shell and ConocoPhillips’ holdings in the Greater Sunrise gas project, if a request from Parliament is made.

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Lu Olo Promulgates Rules To Use Petroleum Fund to Buy Sunrise Gas Shares

Monday, 21 January 2019 15:16 Written by

DILI: The President of the Republic has approved a government bid to increase access to its petroleum fund for a $650 million buyout of ConocoPhillips’s and Royal Dutch Shell holdings in the Greater Sunrise gas project, a bid he had vetoed in December but had strong parliamentary support.

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