Global Business Reports


Lina Jafari, Ben Cherrington, Lucrezia Falcidia, Margarita Todorova, Lorena Stancu, Germaine Aboud

Africa Oil & Gas 2020

October 06, 2020

Just as Africa’s oil industry was recovering from the aftermath of the 2014 oil price crash, another global crisis cast a thick shadow over oil markets worldwide. The Covid-19 outbreak stalled manufacturing activity and shut down air travel globally, causing the International Energy Agency (IEA) to announce that demand would fall to its lowest rate in almost 10 years. The crisis has changed how producing countries across the African continent view their oil industries; in mature markets diversification is the mantra, while newcomers like Mozambique are keen to explore the industry’s potential.

Upcoming milestones, such as the forthcoming approval of Nigeria’s Petroleum Industry Bill (PIB), South Africa passing its long-awaited upstream legislation, Somalia’s first ever licensing round in early 2021, and the rapid development of Rovuma LNG in Mozambique, point to a future of reliable energy production for Sub-Saharan Africa. However, governments will need to reduce cumbersome bureaucracy and adopt a more market-focused approach to unlock the significant potential held in the region.


"The energy transition can only be funded by big oil, as they are the only players who can balance the low returns of renewables projects with their high earning fossil fuel projects."
Petromar speaks of the outlook for Angola’s oil and gas service industry for the next two years.
ENI updates GBR on the progress of its operations across Sub-Saharan Africa.
Grupo Videre looks at the massive LNG developments in Northern Mozambique from the perspective of a service company.


Africa Energy 2024 - Pre-release

The pre-release edition of Africa Energy 2024 comprises analysis based on over 80 interviews with ministers and leading executives from IOCs, NOCs, independents, associations, investors and service providers, to provide an in-depth and holistic view of sub-Saharan Africa’s ever-evolving energy sector.



"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."