Africa's upstream investment terms fail to impress
The region will have to offer much more attractive investment terms to lure operators to its upstream
Put a group of oil company bosses in a room together at virtually any time in the industry's history and they will complain about investment terms or the regulatory environment in the countries they operate. Nowhere is this more evident than in sub-Saharan Africa. The continent is relatively under-explored with huge hydrocarbons potential but has struggled to attract funding as firms globally slashed upstream capital spending. Paul McDade, chief executive of Africa-focused Tullow Oil, told the Africa Oil Week conference in Cape Town that exploration licence terms must be competitive to attract new investors to the region's upstream. "This means governments and regulators being bold and flexi
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
