Sub-Saharan Africa, especially its largest oil producers Nigeria and Angola, will struggle to raise oil output through the middle of this decade, as international majors are shifting their investment priorities, data and analytics company GlobalData said on Friday. Lack of sufficient investments and few new projects could derail Sub-Saharan Africa’s ambition to increase its crude oil production through 2025 after a difficult pandemic-hit 2020, GlobalData said in its report. As international oil majors are reassessing their investment priorities and projects compete for less capital amid an ongoing capex discipline, Nigeria and Angola—the leading African producers in OPEC—are seeing few new projects being approved. According to GlobalData, the two countries will see falling crude oil and condensate production from this year onwards. At the same time, they also have a relatively small number of oil projects that would come on stream within 2025. Sub-Saharan Africa has a lot of potential […]