Africa is estimated to produce about 10% of oil in the world. Ideally, it produces 8 million barrels each day. You should note that its oil production has fallen over the years because of different reasons. One of the reasons for the decline is low global oil prices. These are the major oil-producing countries in Africa. The arrangement is not in any specific order.
Sudan and South Sudan
These are two countries that are among the leading producers of oil in Africa. You should note that most oil wells are in South Sudan. Nevertheless, these two countries rely on each other because of the existing pipeline. When you read the Swedish investigation of Lundin report, you will find out there is a huge decline of oil production. Due to the separation of the two countries, the amount of oil they produce has drastically reduced.
South Africa is known for producing gold. However, it is also a major producer of oil. With an estimated 170,000 barrels per day, it is highly rated. The oil industry thrives because of the well-developed infrastructure and large economy. Moreover, it has a modern crude oil refinery.
Nigeria is considered to be the largest oil producer in Africa. Like most oil-producing countries in Africa, its output has been affected by constant attacks on its infrastructure by armed militia. Although this is an oil-rich country, this only accounts for about 10% of GDP. The country also depends on other things such as tobacco, cocoa, vinegar, and processed food.
Angola is another major oil producer in Africa. In fact, it competes with Nigeria. However, its oil production has been fluctuating over the years. It drills a lot of oil from the deepwater oilfield. You should note that much of the oil is drilled offshore because conflict and violence have hindered exploration in the interior.
Algeria is also a leading oil-producing country and it is estimated to produce about 1.8 million barrels per day. However, there have been production declines because of a lack of investments in infrastructure. Other than oil, the country is also a major producer of natural gas.
Egypt is estimated to produce about 700,000 barrels of oil daily. Like other countries, its oil production keeps falling, due to aging oil fields. There are still oil exploration activities that are ongoing around the country.
Civil wars in Libya have drastically reduced the amount of oil produced each year. At its peak, the country was producing about 1.8 million barrels each day.…Read More Top African Oil Producing Countries