Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia.
The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals.
“When you go for business development, trying to acquire licenses or make partnerships in West Africa, you can sense the competition,” Gilbert Yevi, senior vice president of exploration and production for Sasol Ltd., said in an interview in Cape Town. “It’s like a new California gold rush.”
Similar Posts:
- Africa’s Smaller Stock Markets Plan to Join Forces (Yahoo! Finance)
- Africa’s Oil & Gas Scene After the Boom: What Lies Ahead (Oxford Energy Forum)
- Africa’s Consumer Market Potential: Trends, Drivers, Opportunities and Strategies (Brookings Institution)
- Moody’s Downgrades Four African Nations
- Frontier Markets Post-pandemic (Capital Group)
- Namibia Sees Opportunity in South Africa Unrest (BusinessReport)
- 2017 Global Retail Development Index (ATKearney)
- ETFs Add to African Access (S&P Global)
- Investors Exit Africa for Other Frontier Markets (WSJ)
- Quarterly Frontier Markets Recap – 2Q22 (Fitch)
- How Africa’s Free-Trade Zone Will Provide an Economic Boom (WEF)
- 8 of 10 Fastest Growing Markets are Frontier Markets (Mobius Blog)
- Gran Tierra Energy (NYSE: GTE): Still Has Plenty of Exploration Opportunities in Colombia and Ecuador
- How Big is Africa’s Car Market? (African Executive)
- Investing in Namibia ADRs / Namibia Stocks List
