Global Oil and Gas Capital Remains Mobile, bp Tells AEW 2026

Global oil and gas investment is increasingly shaped by competition between regions, with fiscal stability, predictable regulations and strong project partnerships key to attracting capital to Africa. As geopolitical tensions and market volatility reshape investment decisions, energy executives and financiers point to an opportunity for African producers to strengthen their competitiveness and secure funding for major oil, gas and LNG developments.

David Campbell, Senior Vice President for Mauritania and Senegal at bp, former Namibian Minister of Mines and Energy Tom Alweendo, and Quentin Savinaud, Managing Director and Global Head of Energy, Corporate Coverage at Standard Chartered, highlighted the factors shaping global energy investment and Africa’s ability to attract capital.

Campbell said bp’s Greater Tortue Ahmeyim (GTA) LNG phase 1 project, located off the coast of Mauritania and Senegal, is a good example of a multi-billion, multi-decade project that requires fiscal stability and predictability from both governments and strong collaboration and trust from stakeholders to make sure the project is a win-win for everyone.

Tom Alweendo, former Minister of Mines and Energy in Namibia echoed Campbell’s sentiments on the need for collaboration among stakeholders, adding the need for all parties to understand project requirements upfront and to buy into the value proposition of a project. Meanwhile, Alweendo highlighted the need for flexibility, in addition to stability in a fiscal regime. “It is highly unrealistic to demand that project terms remain the same if the environment in which you have agreed to the terms may have drastically changed,” Alweendo said, noting that if there is a need to change, parties need to clearly define the parameters in which these changes can be made.

From an investor point of view, Quentin Savinaud, Managing Director and Global Head of Energy, Corporate Coverage at banking and financial services group Standard Chartered said that while the bank supports global oil and gas and other energy industry players it does so under a set of decarbonisation policies and reduction targets.

“It is part of our duty to ensure that our clients are on the right path towards decarbonisation,” said Savinaud, adding that high proportion of the bank’s African clients are moving in the right direction in terms of decarbonisation and really care about emissions reduction targets.

When asked about market volatility, economic shocks and the Middle East conflict, Alweendo said that regions that can offer stability will see capital being allocated there, while Savinaud said it could accelerate African project developments, and Campbell, who said these economic shocks are becoming more frequent, said it may see a rebalancing of capital allocation.