Africa's Oil & Gas Boom: $41B Investment by 2026

African nations rich in natural resources, such as Nigeria, Angola, Namibia, Senegal, and Cote dIvoire, are aggressively courting foreign investors for oil and gas exploration and production. Theyre revising licensing, production sharing, and tax rules, aiming to attract $41 billion in upstream investment by 2026. Angola has improved its investment climate, attracting new investments with fiscal incentives, while Nigeria plans to auction oil and gas blocks for $10 billion in new investments and increased production capacity. West African nations like Cote dIvoire have attracted major international companies, and Namibia is emerging as a new hotspot. Mozambique is cautiously restarting onshore LNG projects after political challenges.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.