Search

Senegal’s Energy Minister Cautions Against ‘Magical Thinking’ on Oil Wealth

© Unsplash
  • Minister warns early oil gains mostly cover costs, urges public patience
  • Sangomar field exceeded 2024 forecasts but profits remain years away

Dakar, Senegal – Senegalese Energy Minister Birame Souleye Diop has urged the public to temper expectations over the country’s recent oil and gas discoveries, warning that economic benefits from production will take time to materialise despite what he called an “extremely auspicious” start.

Recent Business

olumide-bamgbelu-Ciba8rvHYng-unsplash
Can Africa’s $2tn instant payments boom transform its digital economy?
Read More »
Langstrand, Namibia. Photo by Grant Durr @ Unsplash
Namibia holds rates at 6.50% as inflation steadies but producer costs surge
Read More »
Farm produce being exported. Photo by Shelley Pauls @ Unsplash
Rwanda’s horticulture exports up 27% to give economy $54mn boost
Read More »

Recent Politics

William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Ruto strengthens 2027 re-election bid as UDA sweeps key Kenya by-elections
Read More »
Ghana President John Mahama. Photo courtesy: Office of the President/Facebook
Ghana’s $1.1bn presidential jet plan reignites debate over cost and priorities
Read More »
Tilembeya, Mopti, Mali. Photo by Kagou Dicko @ Unsplash
IMF backs Mali reforms despite insecurity and debt risks
Read More »

Latest Posts

Latest news insights