Africa Oil Boom Fades as $50 Crude Shuts Door on High-Cost DealsBy
Investment decisions made on less than 10% of discoveries
Governments still working on basis of $100 oil: WoodMac
“On the brink of a boom,” was the banner on PricewaterhouseCoopers LLP’s review of Africa’s oil industry 16 months ago. Now, oil below $50 has made more than two out of three investment projects on the continent non-viable.
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