Production from oil sands has been synonymous with Canada, and to some extent, Venezuela. However, Italian oil giant Eni
While the figure isn't exactly eye-popping, it's significant. Though it's a bit too early to be bullish about the actual growth prospects, what intrigues me is that Eni, along with French major Total
When Suncor Energy
Not exactly the easiest investment
Investing in the sub-Saharan countries requires putting a lot of things into perspective. A stable government, for example, is not something that can be taken for granted. Building relationships with governments and the local population takes years – a task that Eni is seemingly good at. Assisting the local community through projects in agriculture, health, and education is where things can turn unpredictable. Eni cannot afford to lose sight of the local people.
The company already accounts for 60% of power generation in the Congo. While absolute numbers are unclear, what is clear is that Eni is serious about its investment here.
Foolish bottom line
Eni currently has the largest presence in Africa. From that perspective, it's not really surprising that the company has chosen to invest in the Congo. Still, I wouldn't want to bet on a smooth ride going forward. Unexpected hitches can't really be ruled out. For now, I'll keep my fingers crossed.
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Fool contributor Isac Simon does not own shares of any of the companies mentioned in this article. Motley Fool newsletter services have recommended buying shares of Total. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.