How To Keep African Oil, Gas Industry Strong
The African Energy Chamber (AEC) has officially launched the second edition of its African Energy Outlook 2021, which details all of the major challenges facing African oil and gas stakeholders, as well as workable solutions that will keep the industry on a strong and stable growth path.
Africa’s oil and gas industry is facing extraordinary circumstances. An ongoing energy transition and new efforts to decarbonize the world are weighing on oil demand. The shale revolution is exacerbating these pressures. And of course, the COVID-19 pandemic has wrought havoc on markets around the world, accelerating and intensifying existing trends. Restrictive fiscal regimes, inefficient and carbon-intensive production, and difficulties in doing business are preventing the industry from reaching its full potential.
According to the Executive Chairman of the African Energy Chamber, NJ Ayuk, to remain competitive, African producers and governments must cut red tape to make life easier for hardworking Africans, businesses and investors to work and grow the energy sector.
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