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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 sec

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