Post #306

🇹🇩Chad: The West Returns Western companies are once again engaging in Chad’s oil sector — and for now, with relative success 🛢 The Franco-British company Perenco has almost doubled its crude oil production in Chad, having reached 18,000 barrels per day. 📏 While this result would barely register in neighboring countries — in Cameroon or Nigeria it would be dismissed as a statistical error — for Chad it amounts to more than 10% of total national oil output. ➡️ This is a major shift in the oil industry of Chad, which is currently dominated by China’s CNPC. ➡️ For years, Chadian authorities hounded foreign companies, though the goal was more about securing kickbacks than about any real local development. In 2023 the government nationalized what remained of the Western majors’ footprint by taking over Savannah Energy’s assets. Leaving CNPC effectively the only serious player. This is unlikely to have any impact on the general well-being of the Chadian population, but probably we may soon witness at least some competition between one of the richest companies in the world and a smaller but ambitious Franco-British venture for Chad’s resources. Devils Below