Is Chad growing up?

The BBC reports that Chad has softened its demands for a stake in the country’s oil consortium, but is still insisting that two firms involved owe $500m in taxes.

Taxes may be one source of local revenue for Chad.

The President said Chad should have a 60% stake in Petronas and Chevron holdings – the same share that the two firms now hold.

He has now launched a commission to renegotiate a stake with the firms.

Government officials, MP’s, trade unionists and others will sit on the commission, local media reported.

There have been other sources of income to Chad over the years.