Africa’s Crude Diplomacy Needs Shining Star
African countries not battling with fringe issues are preoccupied with endless haggling over regulatory frameworks.
In the world of crude diplomacy, Africa seems to be preoccupied with peripheral issues. Equatorial Guinea is struggling to halt the decline in its oil production. Former Algerian President Abdelaziz Bouteflika’s recent resignation threw the country’s long-delayed oil and gas reforms into doubt. Gabon is struggling with declining output due to maturing fields and a lack of major new finds. Libya’s output continues to decline as conflict escalates.
“More than one-third of the 24 countries currently working together to cut down oil output and inventories to stabilise prices were from Africa.”
African countries not battling with fringe issues are preoccupied with endless haggling over regulatory frameworks. Others get immersed in bid rounds that never happen or if they do happen, are not too successful.
Please enter your email address in the field below to get the latest edition of Nestoil News