Browsing: Oil investment

The major petroleum groups had long been reluctant to become involved in Chadian oil fields. The fields in the central/western and northern parts of the country were located in areas of chronic insecurity.

Then, an unprecedented arrangement was made. The World Bank agreed to finance using public funds. The pipeline would later allow the private operators Exxon, Chevron, and Petronas to transport their crude oil to the Cameroonian port of Kribi. This would enable shipping to European or American refineries, where the oil could be offered on the market at prices that the cost of the transport infrastructure would not burden.

Chad faces military challenges on most of its borders which should be factored as a risk. In the west, in the region of Lake Chad, the army has been fighting the Nigerian Islamist group Boko Haram since 2015. On the border with Sudan, Eastern Chad has seen conflicts between …

As the country seeks an industry revival, Angola Oil & Gas 2021 will serve as the official meeting place and investment destination for industry stakeholders.

Angola, as the second-largest oil producer in sub-Saharan Africa, holds approximately 8.2 billion barrels of proven oil reserves. Contributing to 50% of gross domestic product and nearly 90% of national exports, oil represents an invaluable resource to the domestic economy. The country also holds the fourth-largest proven natural gas reserves in Africa – approximately 343 billion cubic meters – along with significant renewable potential in solar and wind. In a bid to offset declining hydrocarbon production, the Angolan Government has implemented several key initiatives focused on spurring new exploration activities, increasing foreign direct investment and incentivizing local participation within the industry. Accordingly, Angola is set to become a prime investment destination in 2021, as it seeks a year of revival for its prolific oil and …