Africa – from petrodollars to progress

African states rich in resources are striving to increase domes tic involvement in their economies – especially in oil and gas. In attempting to increase domestic participation throughout the value chain, some African states have begun introducing local content laws, supporting industrial diversification and creating a broader economic base for the future. If effective, these measures could provide a framework to enable resource rich states to benefit from Africa’s potential and transform their economies.

Africa holds around 8 per cent of the world’s oil and natural gas reserves. Some states have developed their oil and gas sectors significantly. Nigeria and Angola, in particular, have established themselves as exporters and borrowers in the international market, and rank as the top two producers in sub Saharan Africa. Buoyed by significant new energy finds, other states, such as Ghana, the Ivory Coast, Kenya, Tanzania, Uganda, Mozambique and Chad, offer new opportunities. In 2012, about half the world’s discoveries of conventional oil and gas were in East Africa alone.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.