Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), O-A Danquah, has called on African National Oil Companies (NOCs) to hasten its energy transition to attract the needed investment amidst current global financial challenges.
Addressing a session at the 2022 Africa Energy Week in Cape Town, South Africa, on the topic “Securing Capital In The Current Financial Landscape”, Mr. O-A Danquah laid out some key markers aimed at facilitating ongoing discussions on energy financing within the current regional and global context.[ads3]
He said “the challenges to the oil and gas industry, are no longer future threats, they are here and present. They are complex and uncertain” hence the need for African NOCs to position themselves for a robust, well-thought out and equitable response.
Further to discussing the opportunities and challenges in positioning Africa as a destination for both foreign and internal financing, the GNPC CEO added that “the overall ease of doing business in major oil-producing countries is sub-par compared to foreign oil-producing nations.” Adding that in the World Bank’s 2020 ranking, there are no major African producers in the top hundred. A situation he said requires immediate remedy.[ads4]
The 2022 Africa Energy Week is currently underway in Cape Town, South Africa under the theme: ‘Making Energy Poverty History by 2023.’
Follow for more here: https://aecweek.com/
Source : GNPC Foundation
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