African Oil & Gas: Evolving the industry post Covid-19
By Ogi Williams and Jacques Du Preez
The following paper provides excerpts from Johannesburg-based consulting firm In On Africa’s 2021 African Oil and Gas report.
The post Covid-19 period has pushed Africa's oil and gas industry to adapt to a very different paradigm and one revolving around hydrocarbon divestment and increased renewable energy focus. As the pandemic and related financial fallout drove oil prices down and well beyond sustainable thresholds during 2020, projects across the continent were delayed or abandoned entirely. This has been compounded by the growing risks to financing posed by the global divestment movement, with some of the continent's largest financiers announcing a gradual draw down on hydrocarbon financing. One silver lining amid this uncertainty is the renewe...