African Oil And Gas Industry Pivoting Into Favorable Financing Options
By Semafor Africa Photos: YouTube\Wikimedia Commons Companies operating in Africa’s oil and gas industry are gearing up to tap into a favorable financing environment for the sector, encouraged by US President Donald Trump’s pivot away from clean energy. Heirs Energies, a Nigerian firm owned by mogul Tony Elumelu, plans to double the output of its billion-dollar oil producing facility to 100,000 barrels per day within five years, and has started receiving interest from financiers, the company’s Chief Financial Officer Sam Nwanze told Semafor. Nwanze said there had been “a shift from international lenders wanting to focus once again on upstream oil and gas financing,” thanks to revived interest due to the change in Washington’s stance. Such investors have already enabled some big bets in Nigeria with the Dangote Refinery and Mozambique’s LNG projects. But the pivot is still in its early stages, say industry watchers. “For now it seems like a shift in tone around oil and gas financing more than a very clear trend: that could become more apparent come the new year,” said Clementine Wallop, analyst at Horizon Engage. Read more on the new moves by major oil players in Africa’s oil and gas industry. →
Black News 
By Semafor Africa
Photos: YouTube\Wikimedia Commons
Companies operating in Africa’s oil and gas industry are gearing up to tap into a favorable financing environment for the sector, encouraged by US President Donald Trump’s pivot away from clean energy.
Heirs Energies, a Nigerian firm owned by mogul Tony Elumelu, plans to double the output of its billion-dollar oil producing facility to 100,000 barrels per day within five years, and has started receiving interest from financiers, the company’s Chief Financial Officer Sam Nwanze told Semafor.
Nwanze said there had been “a shift from international lenders wanting to focus once again on upstream oil and gas financing,” thanks to revived interest due to the change in Washington’s stance.
Such investors have already enabled some big bets in Nigeria with the Dangote Refinery and Mozambique’s LNG projects. But the pivot is still in its early stages, say industry watchers.
“For now it seems like a shift in tone around oil and gas financing more than a very clear trend: that could become more apparent come the new year,” said Clementine Wallop, analyst at Horizon Engage.
Read more on the new moves by major oil players in Africa’s oil and gas industry. →
