African Energy Chamber
Africa energy outlook 2021.
African Energy Chamber
Authors
Contributors
N.J. Ayuk
Related Person
Verner Ayukegba
Related Person
Mandisa Nduli
Related Person
Mickaël Vogel
Related Person
Amina Williams
Related Person
Giovanni Trevisson
Related Person
Paul Cheeseman
Related Person
Heidi Sparks
Related Person
Theophilus Acheampong
Related Person
Dr Nathaniel Babajide n.babajide@rgu.ac.uk
Related Person
Doris Agbevivi
Related Person
Dr Bridget Menyeh b.menyeh@rgu.ac.uk
Related Person
Geoffrey Mabea
Related Person
Rystad Energy
Related Person
Abstract
The global energy transition and decarbonization drive are putting pressure on oil demand while shale has unlocked abundant resources. The global context forces African petroleum producers to adapt or become uncompetitive. The coronavirus pandemic (COVID-19) has accelerated this underlying pressure by causing unprecedented havoc on global energy markets that Africa is not insulated from. Conventional petroleum resources such as those in Africa should be competitive in the global supply stack, but above surface conditions related to fiscal regimes, carbon emissions and general difficulty of doing business are holding projects back. The CAPEX spending 2020-2021 outlook pre-COVID-19 was almost $90 billion for 2020 and 2021, but has been significantly reduced to about $60 billion due to project delays and cost cutting measures. The 2021 outlook therefore appears weak on new project sanctions, but relatively stronger for jobs and drilling markets on the back of ongoing projects initiated pre-COVID-19. The impact of COVID-19 on 2021 liquids production is however not so severe as the current 2021 outlook stands at about 7.6 million barrels per day compared to 8.2 million barrels per day in the beginning of the year. Outside COVID-19, regulatory matters have also unnecessarily delayed major projects in Nigeria, Kenya, Uganda and Tanzania that represent big opportunity losses for local content development, delayed job creation and further deteriorated Africa’s competitive position versus resources elsewhere.
Citation
African Energy Chamber. 2020. Africa energy outlook 2021. Johannesburg: African Energy Chamber [online]. Available from: https://www.whyafrica.co.za/wp-content/uploads/2020/11/AEC-Outlook-2021.pdf
Report Type | Technical Report |
---|---|
Online Publication Date | Nov 2, 2020 |
Publication Date | Nov 2, 2020 |
Deposit Date | Apr 27, 2024 |
Publicly Available Date | Dec 5, 2024 |
Publisher | African Energy Chamber |
Keywords | Africa; Energy; Exploration; Production; Environment; Employment; Power |
Public URL | https://rgu-repository.worktribe.com/output/1712995 |
Publisher URL | https://www.whyafrica.co.za/wp-content/uploads/2020/11/AEC-Outlook-2021.pdf |
Files
African Energy Chamber 2020 African energy outlook
(9.1 Mb)
PDF
You might also like
eCooking: challenges and opportunities from a consumer behaviour perspective.
(2021)
Journal Article
Downloadable Citations
About OpenAIR@RGU
Administrator e-mail: publications@rgu.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2025
Advanced Search