Africa’s oil & gas sector show substantial growth, despite regulatory uncertainty and corruption

Africa’s oil & gas sector continues to show substantial growth, despite regulatory uncertainty and corruption, according to PwC Review

PwC’s ‘Africa oil & gas review’ analyses what has happened in the last 12 months in the oil & gas industry within the major African markets

The challenges facing oil & gas companies operating in Africa continue to be diverse and numerous fuelled by fraud, corruption, theft, poor infrastructure and a lack of skilled resources, among others.

Regulatory uncertainty and delays in passing laws are severely inhibiting sector development in many countries around the continent.

“Some key players have delayed or cancelled projects until further clarity can be sought in their respective jurisdictions as they cannot move forward with doubts given the long-term nature of the needed investments,” says Chris Bredenhann, PwC Africa Oil & Gas/ APO