Emerging Oil and Gas Producers in the Age of Cheap Oil
Dr Valérie Marcel, Associate Fellow, Energy, Environment and Resources, Chatham House
For many governments and populations, the discovery of oil and gas promises transformational opportunities. Over the last decade, discoveries such as the giant offshore gas fields of Mozambique, and the oilfields of Turkana in Kenya, have been promoted by both national and international observers as a ‘one-off’ chance for national governments to take advantage of their natural resources. Governments of other nations with slightly more developed oil and gas sectors, such as Ghana, have devoted large sums of money to the development of nascent industries. All see the development of oil and gas reserves as a means of increasing government revenues and boosting underperforming economies.
Yet in the context of low oil prices, which look set to continue for some time, emerging oil and gas producers face significant challenges. Will proposed developments be completed in the low price environment? Are policy adjustments required to incentivize investors? How can governance be improved?
On the heels of a new producers discussion group in Kenya, Dr Valerie Marcel will explore how these issues are playing out on the ground. She will also discuss the impact of the new price environment on the strategies and financial health of emerging national oil companies.
Attendance is strictly by invitation only. To enable as open a debate as possible, this event will be held under the Chatham House Rule.
This event is only open to Major Corporate Member and Partner organizations of Chatham House. To register for this event, please RSVP to Linda Bedford.