Reining in of foreign firms elsewhere increases African oil’s allure

Though much of the continent is just as conflict-ridden as the Middle East, analysts say Africa is increasingly attractive because it’s one of a diminishing number of regions still welcoming foreign corporations.

“It’s one of the few places still where in virtually every country the international oil companies can invest,” said Julian Lee, senior energy analyst at London’s Centre for Global Energy Studies. “I can’t think of anywhere in Africa that has not let in international companies.”

Yet even as Africa tries to decide the best way to exploit its resource, some analysts say the continent’s promise of vast oil reserves has been overhyped.
Canada.com