Oil price recovery eases Chad's gloom
Oil sector investment outlook remains uncertain for the landlocked central African country
Chad's potential to become a major African oil producer remains unfulfilled. But higher oil prices, improved global demand for low-sulphur oil and more cordial relations with the International Monetary Fund (IMF) offer some hope of better investment conditions. In 2011, with the oil price riding high, Chad's oil revenues totalled around $2bn, accounting for 76pc of government revenues. By 2015, those figures had slumped to just $200mn and 24pc, respectively, according to IMF data. Increasing demand for the low-sulphur content crude produced in the Doba Basin is one positive for Chad. Asian refineries are driving the thirst, as well as the switch to low-sulphur fuel oils in the shipping secto

Also in this section
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek