Oil: Chad changes oil revenue law

Reuters reports that Chad has agreed to a bill changing a law which safeguards future oil profits.

The decision has been protested by the World Bank who had pressed Chad to pass the original oil revenues law in exchange for funding for a $3.7 billion pipeline.

In addition to the funding now being in jeopardy, the Bank may also halt lending to the Chad government, a move that would have a severe impact of the country.