Majority of 2024’s capex was pushed by established producers like Angola and Nigeria.
Senegal is an instance of how operator-friendly insurance policies, political stability, and huge reserves can appeal to international funding.
Africa holds almost 18 trillion cubic meters of pure gasoline reserves, which can show important for a simply power transition.
I’ve mentioned for years that African power is an important funding. Backers clearly agree — to the tune of $47 billion. That’s how a lot capital expenditure (capex) 2024 noticed in African oil and gasoline, displaying a 23 per cent enhance from final 12 months. Higher but, we count on development to proceed by way of the top of the last decade.
This capex exercise is a welcome signal that power majors are deepening their long-term pursuits in Africa. And as our 2025 State of African Power report particulars, their momentum has created distinctive alternatives for native communities, indigenous corporations, and nationwide oil corporations (NOCs) from …
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