AEC offers Equatorial Guinea guide for energy reforms

The African Energy Chamber organised a ‘Power Breakfast’ yesterday in Malabo to mark the launch of its Africa Energy Outlook 2021.

The event gathered all of AEC’s partners and industry stakeholders in Equatorial Guinea as the market embarks on a path to recovery in 2021.

Despite its resilience, Equatorial Guinea’s oil sector is facing the same dire situation as the rest of global energy markets.

Key priorities include boosting local content, expanding midstream and downstream gas infrastructure, opening up the Rio Muni to onshore oil and gas activities, and leveraging on the country’s tremendous minerals and mining potential to further diversify the economy.

In its latest 2021 outlook however, AEC called on African governments and industry stakeholders to come together and do more to support the sector’s competitiveness and attractiveness. A key concern for Equatorial Guinea’s oil and gas industry, it said remained the lack of competitiveness of its fiscal terms and the lack of an attractive enabling environment that supports local private sector growth and jobs creation.

To support recovery and boost investment, the AEC’s 2021 outlook offered several pragmatic solutions, issuing a call to action to policy makers and stakeholders around the adoption of bold fiscal reforms and the modernisation of regulatory frameworks to bring back investors’ confidence.

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