Tag Archives | energy sector
Egypt’s oil production has been in decline for almost two decades; however this has been offset by the development of the natural gas industry. In fact, natural gas production has increased fivefold since the mid-1990s. Up to around 2004, gas production had increased by just enough to cater for rising consumption levels. Between 2005 and 2006 there was a surge in production, contributing to significantly higher hydrocarbon exports and growth of the region’s GDP.
The hydrocarbon sector remains Angola’s main engine of economic growth, accounting for more than 96 percent of exports, 80 percent of government revenue, and in excess of 60 percent of GDP. Accordingly, any volatility in oil production and global oil prices tends to have a direct influence on the performance of the economy.
Road and rail infrastructure development projects are highly advantageous for the future of the domestic economy …