Sub-Saharan Africa Oil & Gas Q4 2020
The effects of Covid-19 and the onset of lower oil prices in 2020 has led to a sharp reduction in investment andcorresponding decline in production. However, the economic recovery remains on track and supportive of renewed activityregionally, which has seen fuel consumption rise along with a small rebound in upstream activity. Nigeria and Angola, as members ofOPEC, have seen oil production levels plummet as compliance with production cuts remain a key position of both governments.Several high-profile projects have experienced delays in construction or a deferment of FID until 2021, both of which should dragproduction growth lower in the near term, but the recovery is underway and should see the mid-term bounce back to pre-Covid-19growth paths.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook