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Africa to Feel Squeeze as Plans About to Change
Bracewell’s Adam Blythe recently discussed with Energy Voice reporter Ed Reed what affect the coronavirus and the crash of oil prices will have on oil and gas transactions and projects in Africa.
“In the short term, capex plans have been cut by listed companies and majors, and there has been an immediate lock-up on activity and new deals. The lessons from the 2014-15 crash have helped, with many companies in Africa better positioned now than they were then,” Blythe said. “Costs were already cut and break-evens reduced but this price shock appears set to dwarf what we saw in 2014-15.”