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While scaling back its footprints in some African countries, Tullow Oil is counting on increased production in its Ghana’s assets to recover from mounting debts and fiscal turnaround
Most renewable projects in Africa are driven by foreign investors and global financiers like the World Bank. Still, some local companies are making notable contributions.
Namibia has been hailed as one of the world’s hottest frontiers for oil exploration. But with market shifts and growing exploration challenges, some major oil companies are beginning to rethink their presence. The question now is — does Namibia still hold its hotbed status?
Ghana began its oil production journey in 2007 after the commercial discovery of the Jubilee Field. The sector has grown steadily since then, but signs now point to a possible slowdown ahead.
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Under the programme, companies worked with the Federal Inland Revenue Service (FIRS) and the Federal Ministry of Works to identify and fund approved projects. The cost of these projects would then be deducted from the company’s future tax obligations.
Despite low electricity coverage across the continent, some African countries have risen beyond the maze of energy poverty, providing as much as 100% coverage access to their populace.
Africa’s most industrialised nation, South Africa, is grappling with an ongoing energy crisis as load shedding, scheduled power cuts to stabilize the grid, continues to disrupt daily life and economic operations.
But like many industries in Africa’s fourth-largest economy, competition often proves to be both its strength and its weakness. Soon enough, the Dangote refinery was no longer enough for the country’s businessmen and wealthy investors.
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