International Arbitration Can Help Africa's Energy Sector

By Leigh Crestohl (July 10, 2019, 12:45 PM EDT) -- Energy remains at the heart of 21st-century global economy. In exploration and production (upstream), oil companies faced a difficult period following the oil price collapse to $30/barrel. But things are changing. According to the latest report from the International Energy Agency, upstream oil and gas spending in 2018 rose by nearly 4% to $477 billion.

The rise, primarily attributed to the partial recovery in oil prices, has been further driven by a shift to shale gas and projects which have shorter construction periods. Despite the Paris Agreement initiatives to combat climate change by gradually decarbonizing the global economy, the impetus to...

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