Global

As the sun sets on Big Oil, IOC exits put Africa's largest producers at risk

  • Oil prices are on the rise but IOCs are under pressure to cut oil capex and focus on low carbon energy

  • A risk for Africa, where most oil production relies on IOCs and 30% of goods exports are from oil

  • Africa could lose over US$25bn in oil and gas investment by 2022 - IHS Markit. Local independents are likely winners.

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June 30th, 2021
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