Plans to complement domestic production by undertaking international exploration support the Sultanate’s target of reaching an output of 650,000 barrels of oil equivalent per day by 2035. Downstream, the government is investing in development of its petrochemicals sectors. The country today is primarily an exporter of liquefied natural gas, which is shipped to Japan, South Korea and Malaysia,...
Energy
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As East Africa’s largest economy, Kenya has seen its economy grow by more than 4% for the last three years, according to data from the World Bank, while an improvement in fiscal indicators and a new constitution encouraging devolution have helped to improve governance and the public balance sheet.
Along with Tanzania and Uganda, Kenya is emerging as a new destination for oil and gas explorers after several hydrocarbons deposits in commercially viable quantities were found in the East Africa region. The extent of Kenya’s oil and gas reserves is still being determined and estimates vary widely, but some government projections suggest that its reserves could exceed Uganda’s expected...
Ghana has developed a reputation as a robust and stable democracy, and with a storied legacy of pan-African initiatives it has long punched above its weight diplomatically. While the recent oil boom following the discovery of the offshore Jubilee field in 2007 has helped to fuel GDP growth as much as 14% over recent years, it is now projected to slow to a more modest 4.5% in 2014.
Population increases and a growing economy look set to intensify demand on energy resources in Jordan over the coming years. In response, the government has put in place an energy plan that will focus on maximising the use of domestic resources, particularly oil shale; encouraging energy conservation and awareness; generating electricity from nuclear energy; and promoting the development of...
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.