Most of Africa's top planned oil and gas projects may be de- layed witn capex cuts or around 33%. Unlike the 2015-16 price crash, this time nothing is sacrosanct: some operators will even wield the axe on committed spend, as well as the discretionary expenditure, according to analysts at Wood Mackenzie. Gail Anderson, from the Africa upstream team, said: "During the last slump, capex in Africa fell by around 20%. This time we think a third of capex, or around US $10 Bn, will be shed across the continent this year.
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