Oil majors still see Africa as path to upstream growth

摘要

FEATURE Cape Town—Oil majors remain optimistic about Africa’s oil and gas growth potential and, with the right strategies, the industry can look beyond the challenges caused by lower oil prices, companies said at Africa Oil Week in Cape Town this week. Low oil prices have weighed heavily not only on countries dependent on hydrocarbons for revenues, like Nigeria and Angola, but also on new producers like Kenya and Mozambique where projects face delays. But while some companies have scaled back investment commitments in Africa, Total has pressed ahead with significant projects off Nigeria, Angola, Republic of Congo and Uganda.