MAPUTO, Mozambique (AP) — Oil and gas industry executives from across Africa are meeting in Mozambique this week to discuss challenges and opportunities on the resource-rich continent.
The website of the event, called Oil and Gas Summit Africa, notes that new finds in Mozambique, Kenya and Tanzania are drawing foreign investors and spurring talk of an energy boom on Africa’s eastern coast. In addition it says the energy industries in Ghana and Uganda are also showing promise.
The website says economic and political uncertainty, along with fluctuating energy prices and poor infrastructure, have hurt growth in the past. But a commodities boom and more investment have helped African growth.
Representatives from leading energy producers on the continent, including Algeria, Angola and Nigeria, are attending the three-day conference which ends Tuesday.