Africa: Abandoning hydrocarbons for cleaner energy is likely to damage the future of African hydrocarbon reserves

The abandonment of hydrocarbons in favor of energies deemed cleaner is likely to undermine the future of hydrocarbon reserves in Africa. This was stated by OPEC boss Mohamed Barkindo on the sidelines of CERA Week, an energy conference held from Monday March 7 to Friday March 11, 2022, in Houston, Texas.

For Barkindo, the debate on climate change and the energy transition is biased because it is not based on the reality of the facts. Indeed, of the approximately 2.6 billion people who lack access to energy and clean cooking technologies globally, approximately 70% are Africans.

If producing low-carbon energy is essential for humanity, the boss of OPEC thinks it is also important to take into account energy poverty, which represents a major challenge for developing countries.

“We see investors, environmental lobbyists and even some corporate consultants pressuring oil and gas companies and governments to adopt increasingly radical energy policies and initiatives,” Barkindo commented.

Such a move could ultimately disrupt the global energy economy. This in a context where the African continent has approximately 125 billion barrels of crude oil reserves and 16 trillion cubic meters of natural gas.