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Impact of oil price on upstream investment, costs and production in Sub Saharan Africa

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Report summary

Since the oil price drop the Sub Saharan Africa (SSA) region has seen a wave of capex cuts. Around 40% of capex has been removed from our 2016 to 2020 forecast. Angola and Nigeria's cumulative forecast has been slashed by 51%. Although operators have been helped by cost deflation on the supply side many pre sanction projects remain sub commercial and have had to be re designed deferred or downgraded altogether.

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