Summary
An African Business Special Report
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Extract
How should Africa deal with the $40 barrel?
There are many in the oil and gas industry who believe that the current price of crude, at around $40 per barrel, is here to stay. What are the implications for African exporters and net oil importers? We focus on this aspect of the industry in this Special Report. We also report on the latest developments in the Kudu gas project. Report written by NEIL FORD.
********** The current oil price boom has obviously proved something of a mixed blessing for African economies, with the majority--the net importers--losing out, while the net exporters benefit from higher revenues. Yet the benefits for both current and potential producers may extend far into the future if the present high price of oil is sustained. Africa possesses many oilfields that are not commercially viable to develop at a price of $20-$30 per barrel of oil, but if the $40/pb is here to stay then a whole host of oil companies would be prepared to undertake development. Many of t...See the full content of this document
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