Africa can be long-term focal point for oil industry

Africa certainly has some of the most promising geology on the planet for even conventional oil and gas when much of the world has already moved into the much harder, more demanding reserves. However, most African countries present a couple of risk factors rare in other parts of the world. Rotten security and safety situations are accompanied by abysmal legal security and rampant graft. In the past many majors went offshore to bring some distance between their operations and the goings on in the countries but that is often not enough anymore. Many leave the dark continent altogether as they can’t deal with the TIA factor anymore. Africa could be a great price but it’s not the only game in town. 

Africa can be long-term focal point for oil industry

Once energy security is achieved, Africa can play a greater global role as it builds out its downstream, Anibor Kragha, chief executive of the African Refiners and Distributors Association, tells Petroleum Economist

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