View offshore: President Macky Sall and Emmanuel Macron close to where LNG exports are due in the early 2020s
Senegal seeks to avoid the oil curse
Offshore oil and gas is set to flow within five years, and Senegal is bracing itself for the impact
Senegal's aspirations to become a major hydrocarbons producer are moving ever closer to realisation. Determined that the West African state should avoid the financial mismanagement that has dogged many an oil-rich African country, President Macky Sall is hurrying to implement a regulatory and legislative framework. Senegal is basing plans for its new life as a gas and oil producer on an annual government revenue flow of CFA600bn ($1.04bn) from the two prospective hydrocarbons ventures—the SNE oilfield and the Greater Tortue/Ahmeyim gas project. Both are scheduled to start producing export revenues in the early 2020s. Based on a highly conservative $38.7/barrel average future oil price, this
Also in this section
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention
7 February 2025
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
