In many ways, Algeria finds itself in an enviable economic position, particularly when compared with its regional neighbours. It holds the fourth-largest oil reserves and the second-largest natural gas reserves in Africa. Ample hydrocarbons revenue has allowed the government to channel capital into public expenditure programmes on infrastructure, health care, education, social housing and subsidies.
Nigeria is looking to improve and expand the supply of gas used by its power sector, as part of a comprehensive overhaul of electricity generation.
Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and reduced foreign currency reserves.
Solar energy has played a secondary role to wind power within Egypt’s renewables strategy for some time, despite the nation’s obvious advantages in terms of abundant sunlight and large tracts of undeveloped land. In 2014, however, brought a number of clear indicators that suggest that solar power remains very much front and centre in the government’s vision for the energy...
Over the course of 2014 Egypt’s energy sector has seen some welcome developments. The announcement of a debt-repayment programme for funds owed to international oil companies (IOCs) has restored confidence in the upstream segment and brought pledges of increased investment from larger operators such as the UK’s BP.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×