PwC’s Africa Oil and Gas Review 2020 anticipates that the global transition to renewable energy will accelerate rapidly throughout the coming decade, causing exponential disruption as well as opportunities in Africa and beyond.
The tenth edition of PwC’s Africa Oil and Gas Review provides updated insights into the African oil and gas industry but expands the focus to include the unprecedented disruption caused by the COVID-19 global pandemic as well as the biggest global theme for this decade: the renewable energy transition.
The decade of the 2020s will be recorded in history as a pivotal period for the planet, the global economy and the energy and power landscape. As we approach the end of 2020, and review the estimated pandemic-induced damage, The Oil and Gas Review reports significant delays affecting investment and projects, an estimated decrease in oil production of 19% for the top five African producers for 2020 and a depressed market outlook in general. In addition to COVID-19 induced market disruptions, African countries, many of which are very reliant on oil and gas revenues, have had to divert fiscal resources to supporting healthcare and welfare responses to the pandemic.
