In anticipation of several substantial developments in the downstream sector of Nigeria’s petroleum industry, Forte Oil appears to be taking a long-term view of the sector and streamlining its operations to focus on its core fuel distribution services.
Kidnap for ransom is a dominant form of criminality in the Niger Delta, having evolved from being a tool used by local militant groups - to simultaneously fund their campaign against the government and attract international attention - to a hugely profitable business in and of itself. This activity has grown to involve an extensive network of actors.
Aliko Dangote’s new refinery – which is expected to be operational in 2019 –represents a huge potential boost for the Nigerian economy. Of equal interest, it will also secure Dangote’s eminent position in Nigeria’s economic and political circles, potentially at the expense of some politically-connected individuals who are alleged to have improperly profited from importing refined petroleum.
As several of Nigeria’s biggest LNG contracts near their end, Nigeria LNG Ltd faces the challenging task of finding potential buyers amid a continuously evolving global LNG market. This arduous task is merely exacerbated by Nigeria’s investment environment, which suffers from security concerns, legislative and policy concerns, bureaucracy and continued rampant corruption.
Ghana’s extensive renewable energy resources are attracting increased attention from investors around the world. However, despite a sizeable market offering that holds significant long-term growth prospects, Ghana’s renewable energy sector is still relatively underdeveloped, and continues to suffer from weak and unclear policies and regulations.
Sonangol’s complex relationship with the Presidential office has created a de facto parallel government. Over the years it has operated outwith the traditional remit of a national oil company, exercising undue political and economic influence to the benefit of a select few. However, a combination of low global oil prices and restructuring will likely serve to finally curb its influence.
Italian oil company Eni’s most significant natural gas discovery off the coast of Mozambique in 2011 has served to strengthen both economic and commercial relations between the two countries. With both keen to take advantage of the burgeoning relationship, Italian investments in Mozambique are only expected to increase over the coming years.
The Senate’s passing of the Petroleum Industry Governance Bill is a small, but significant, step towards the long-awaited restructuring of Nigeria’s troubled oil and gas industry. It is through the PIGB that the government hopes to open up the sector to more and better business opportunities through increased transparency, better accountability and clearer regulations.
In a matter of weeks, the introduction of three new laws has completely changed the legal and regulatory landscape of Tanzania’s extractives industry, risking the country’s reputation as one of Africa’s most attractive investment destinations. As Acacia has discovered, this emerging environment is not a welcome one.
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Nigeria has become one of Turkey’s most important providers of liquid natural gas (LNG), and with the LNG industry in both countries gaining increasing prominence, LNG trade between the two is likely to continue into the foreseeable future.
A shortage of reliable power in Ghana continues to be a major obstacle for potential investors, but as the new government attempts to make good on its promise to develop the economy and attract investment, solving the power crisis is becoming a priority.
Sinopec’s acquisition of Chevron’s downstream businesses in South Africa and Botswana is China’s first major investment into Africa’s downstream oil industry. With energy demand in Africa continuing to increase – and demand slowing in China – Chinese companies are consequently turning to foreign markets to secure further customers for continued growth. Conversely, these investments may merely be part of a wider politically-motivated plan aimed at promoting China’s political influence across, not only Africa, but the wider international community.
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