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Sector Facts: Oil Price Slump hits Africa harder, Dampens progress in exploration activities

  • 7 May 2016
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U.S. explorers aren’t the only ones idling rigs as sub-$50 crude forces oil and gas drillers in Africa to slow their search for new reserves. The number of oil and gas rigs offshore Africa remained at 20 in April, the lowest since 2009, according to data published on Friday by Baker Hughes Inc. Onshore rigs fell

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