Big oil producers face 19% fall in production

Assurance, advisory and tax services firm PwC’s Africa Oil and Gas Review 2020, released in November, estimated a 19% fall in oil production for the top five African producers: Nigeria, Algeria, Angola, Libya and Egypt. The report, titled ‘Energising a New Tomorrow’, focused on 20 African countries with links to the oil and gas industry. The report underscored the reversal of Africa’s gains during 2020, compared with a year earlier, when mega liquified natural gas (LNG) exploration and development projects were announced.