Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
Bank of America
“It’s transition on our own terms, with our own resources. We need to get smarter about how we articulate that, not as victims, or as people to be allowed to do things,” said Yvonne Ike, head of sub-Saharan Africa at Bank of America. “We need to work with the countries that get it, so from the Gulf, from Asia.”
Should ESG investors give the oil and gas sector a second look? That’s certainly the opinion of a panel at this week’s Energy Intelligence Forum.
Four companies are due to drill exploration wells in Ghana during the last quarter of this year, according to a government report. The Public Interest Accountability Committee (PIAC) also raised some concerns over tax payments by state-owned Ghana National Petroleum Corp. (GNPC).
Chinese oil giant Cnooc (TSX: CNU) is putting plans in place to pull out of the North Sea, according to reports.
Oil and gas giant Shell has announced the agreement of a new $10 billion revolving credit facility to help progress the firm towards its net carbon footprint.