OGR July - August Edition 2020

CORONAVIRUS PANDEMIC: Africa’s
Journey, Inspiration, and Development
It's over 4 months since the WHO declared the Coronavirus as a global
pandemic. Coronavirus has paralyzed the world extremely great and
there is barely anywhere in the world that the virus hasn't been
affected. While the global death toll now stands at nearly half a
million and up to 10 million people have been infected with the virus.
In response, Governments have taken actions that we have never witnessed
before, shutting down their economies and a huge portion of global trade and
travel is on hold putting hundreds and millions of people out of work.
Alongside the tragic loss of life and global economy downtime which hasn't
been witnessed like this before even in times of world war have brought all
industries to their knees. Businesses and multinational companies are all
affected. The virus doesn't discriminate against the poor and the rich. The
poorer you are, the virus will kill you.
This article is focused on Coronavirus Pandemic in the African region,
highlighting the latest developments and key recommendations from
industry experts on how Africa can navigate through the Global Pandemic in
a post-COVID-19 recovery in the oil and gas industry.
COVID-19 also known as Coronavirus started as an outbreak in Wuhan,
China in December 2019. In Africa, Coronavirus was confirmed on 14
February 2020. The report shows that there are more than 300,000
confirmed cases of Coronavirus, over 140,000 recoveries, and more than
8,000 deaths across the African continent.
As the world waits for a COVID-19 Vaccine, industry experts have raised
serious concerns following the Coronavirus outbreak in Africa, saying
that this pandemic is an opportunity for Africa to develop a strong
dynamic economy system that will be Independent and less vulnerable to
a pandemic shock in the sense that there will be an established
framework for an economic recovery growth plan that will strengthen its
domestic financial institution to fully support local content development
in their countries and it will require radical government intervention.
By Ndubuisi Micheal Obineme
Facts about African Continent
Ø Africa holds a huge resource base of about
128 billion BOE.
Ø Africa's hydrocarbon resources to increase up
to 74 percent in 2050.
Ø Nigeria launches 2020 Marginal Field Bid
Rounds.
Ø Uganda set to make FID on Tilenga and
Kingfisher Project.
Ø Cameroon to host Oil & Gas Business Mission
by June 2021.
Ø Liberia auctions oil blocks online.
Ø African Continental Free Trade Agreement
(AFCFTA) to be ratified by 2021.
Ø Equatorial Guinea has moved on to grant tax
reliefs for services companies in the country.
Ø Mozambique in need of experienced service
providers.
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OIL AND GAS REPUBLIC I SPECIAL EDITION