Lawyer and Oil and Energy Expert NJ Ayuk, shares important insights and updates on the relations of current oil trends, news, and backstory of using exports.
The attention is now set on Africa’s potential to deliver profitable resources in the oil industry. In the past, other countries have overlooked Africa’s emerging power in the oil sector. But as trusted sources reveal the future of African oil, companies have begun to show interest and plan to become investors.
In a recent interview with BBC World Business Report, NJ Ayuk gives us an overview on the current status of the oil industry. He answers the questions, pertaining to economics and business that the world wants to know. Here are some key takeaways that highlight global and African reports on the status of oil trade and related news:
NJ Ayuk Praises Kenya for its Preseverance in Oil and Business
Without the use of pipes, Kenya creates a successful way to export crude oil. The National reported that President Uhuru Kenyatta deemed the exportation of 200, 000 barrels a special moment for Kenya. Buyers of Kenya’s oil include ChemChina UK. President Kenyatta believes that by continuing to move forward with the use of trucks, they have shown that they understand infrastructure and development.
Africa can use Western technology and Western exports to help and build Africa
NJ gives us a history lesson by addressing China’s use of Western exports to help build their country; he believes Africa can do the same, as it has been done before. NJ Ayuk knows China has a record of substantial growth. Included in the report by Congressional Research Service: China’s Economic Rise: History, Trends, Challenges, and Implications for the United States— the World Bank states that China has “experienced the fastest sustained expansion by a major economy in history—and has lifted more than 800 million people out of poverty.”
NJ Ayuk Talks African Companies and Importance of Inclusion
NJ Ayuk has advocated for Africa’s oil sector for many years. He believes that there should be room for African companies, and that African companies can no longer be the last hired and first fired. After all, African companies deserve it. Studies and experts have backed its value in the oil industry.
NJ Ayuk also gives us his take on Africa and tells us if Africa is the new frontier for the world’s oil and gas companies:
“It is going to be an aggressive frontier, it is going to be a big scramble for Africa.”
He also points out that Africa has a market for a billion plus people, and with a vast on cap natural resources, it is going to be the next big frontier, but it can only be a frontier if they can make it happen, and he believes it is their chance to get it right.
NJ Ayuk recently published his second novel, Billions at Play: The Future of African Energy and Doing Deals. It is an Amazon Best Seller.