Somalia tops 'resource nationalism risk' list

CORRECTING OBJECT NAME AND INFO IN CAPTIONA picture taken on November 4, 2008 shows Islamist fighters from the hard-line Shabab movement taking part in a military drill at a camp in the northern outskirts of Mogadishu. Hostilities between the transitional government and hardline islamist movements for the control of Somalia's wartorn capital, Mogadishu, seem set to continue after defying numerous attempts to pacify warring factions as internal wrangles continue to dog efforts to establish an effective government. AFP PHOTO / Mustafa ABDI

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By Eoin O'Cinneide

 01 March 2012 01:04 GMT

Oil companies looking to exploit resources in war-torn Somalia are on shaky ground as contracts written in the world’s most failed state may end up not being worth the paper they are written on, a risk analysis firm has warned.

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