To all you dedicated oil industry professionals, today we talk about the top oil producing African countries.
With reference to commercial tools of trade, oil is unbelievably powerful and considered to be the most influential world-wide. The potential of oil discovery across Africa has room to grow even more, however political and developmental constraints have slowed down the rate.
As previously said, here are the top African oil producing countries determined by their oil produced quantities:
10th – SOUTH AFRICA
One of Africa’s richest and wealthiest economies South Africa, produces roughly 191, 000 barrels of oils each and EVERYDAY. This country is always open for business and new prospects concerning the opening of new wells as a means to further expand. South Africa to date has not yet reached the sufficient capacity to export any oil, yet. In order for this to be a reality, the country needs to produce about 576 000 bpd in order to operate the country.
9th – GABON
The next African oil giant is Gabon ranking in at 9th place. The country produces oil amounting to roughly about 241, 700 bpd and every day.
8th -THE REPUBLIC OF CONGO
The eighth biggest producer of oil in Africa is the Republic of Congo. The country produces more or less 274, 400 bpd. The country’s economic transformation is well due to the vast oil discoveries over recent years.
7th – EQUATORIAL GUINEA
Ranking in at Africa’s 7th biggest oil producers is Equatorial Guinea, producing around 346,000 bpd. Oil is a massive booster for the country’s economy and is also home to the country with the most oil rigs.
6th – SUDAN
Sudan is the sixth biggest producer of oil in Africa, Producing roughly 487, 000 bpd. The oil sector in Sudan is its biggest and is a major key player for developing and maintaining the economy.
5th – EGYPT
Egypt is Africa’s fifth biggest oil producer with productivity amounting to 680, 000 bpd. The main spots of production are the Gulf of Suez, the Eastern desert, the Western Desert and the Peninsula of Sinai. They have also invested in a pipeline that runs from the Gulf of Suez to the city of Sidi Kerir. Oil is one of Egypt’s biggest supports for the economy with the pipeline making for easy transportation and making more for the nation.
4th – LIBYA
Libya produces about 1.7 million bpd making this country Africa’s fourth biggest producer of oil. Libya exports almost 1.2 of the total.
3rd – ANGOLA
Angola is the third top producer in Africa and their 1.9 million barrels each and every day places them seventh in the world. Oil and gas holds Angola’s economy. Many foreign investors have ventured into the business with the government giving a pliable platform that has built the economy making Angola one of Africa’s richest countries.
2nd – ALGERIA
Algeria comes second in Africa producing about 2.1 million barrels a day. It has also had its share of problems with the president firing the CEO due to scandal claims. Sonatrach is owned by the state explaining the action by the president. Algeria had flaunted oil reserves holding about 12.2 billion barrels of oil in the year 2010. This is a massive amount equaling about 18 years of the worlds production.
1st – NIGERIA
Nigeria is Africa’s biggest oil producer with about 2.2 million barrels being produced a day. This makes them the number fourth world exporter of oil. The industry has however been racked with a lot of problems which has also affected the effect of the oil industry on the country. Many oil producing countries are way ahead of Nigeria which has left many wondering. The Royal Dutch Shell is currently facing a one hundred million dollars fine from the Nigerian government due to an oil spill. Militants have also gotten into the business cutting into the production and slowing down production exponentially. This has also led to the death of a number of people in the whole saga making it a hot spot area.