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Vol 54 No 20

Published 4th October 2013


Oil bids defy security crisis

With over 60 fatalities and wider regional security concerns, the hostage siege in Nairobi is not deterring oil companies from targeting Somalia

International conferences extolling political progress in Somalia and raising aid funds for post-war reconstruction have triggered several bids for oil acreage in the region despite continuing concerns about security and stability. Early business reactions to the hostage siege at Nairobi's Westgate shopping mall, for which Somalia's Al Haraka al Shabaab al Mujahideen (Al Shabaab) militia have claimed responsibility, are that it would damage Kenya's economy much more than Somalia's.

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