BMI View: Political and social instability have disrupted Egypt’s hydrocarbon potential. While operators tend to have the ability to work through political risk, security concerns have prompted force majeure measures, disrupting operations. At time of writing, political risks in Egypt have peaked and security concerns have eased; BMI’s Country Risk analysts expect a slight moderation over the rest of the year. We believe that operational risk and lack of policy certainty will affect the country’s output for the coming months and possibly years. However, we stress that the country’s below ground potential remains extensive, as exemplified by a series of …
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