The Petroleum Agency of South Africa (PASA) has confirmed that it is liaising with the oil and gas utilities of Namibia and Mozambique regarding offshore oil and gas exploration in the southern African region. Such cooperation can only be mutually beneficial.
The announcement of the acquisition of Nigerian oil independent, ConocoPhillips by another Nigerian independent, Oando Energy (“Oando”) has been followed by a further announcement that Oando will be taking over Medal Oil. These developments indicate a trend towards the consolidation of African oil independents.
Consideration has been given to the USA’s increased involvement in the power sector of Sub-Saharan Africa. The scope of the USD9 billion Power Africa Fund may be broadened to include more countries.
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