Document Type

Article

Publication Date

4-1-2019

Publication Title

Extractive Industries and Society

Volume

6

Issue

2

First Page

593

Keywords

Africa, Development, Gas, Local content, Oil

Last Page

609

Abstract

The exploration and production of oil and gas continue to be vigorously pursued by African states and international corporations—both large and small. However, with unpredictable fluctuations in oil prices it becomes more difficult to exploit these resources in ways which accrue net benefits to both the state and its citizens. The oil and gas industry in Africa continues to grow and attract new investment, especially from China and India. Despite the lower price of oil, exploration and production activities continue to be carried out. At the same time, the possibilities for oil and gas to be a blessing narrow. Natural resource-based development has always been a difficult objective for any state. The question now may be whether embracing oil and gas is socially responsible: as renewable energy becomes more cost-effective and societies transition into a post-carbon world, the prospects for African states to make good use of carbon resources are waning. In exploring the closing window for petro-development in Africa, this paper uses a comparative cross-regional analysis of trends and developments to highlight how weak legal frameworks and a lack of institutional capacity pose major challenges for the continent's states in managing their natural resources.

DOI

10.1016/j.exis.2019.02.001

ISSN

2214790X

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