Capital Spending in Africa’s Oil and Gas Industry To Record Impressive Growth In 2022

Despite global capital expenditure having been on a downward spiral between 2014 and 2020- owing largely to COVID-19 pandemic spending trends and energy transition-related divestment in Africa – the African Energy Chamber (AEC) (www.EnergyChamber.org) projects capital expenditure within Africa’s oil and gas industry to increase in 2022 and beyond. According to the organization’s Q1 2022 report, The State of African Energy, capital expenditure within Africa’s oil and gas sector will reach $30 billion in 2022 after a decline from $60 billion in 2014 to $22.5 billion in 2020. This provides an opp…

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