Africa’s Giant Oil Producers Top Up Supply

Reuters reported that Africa’s top oil producing nations, Angola and Nigeria, pump around 4 million bpd of crude but new producing countries are emerging.

As quoted in the market news:

Uganda, Kenya, Ghana and Niger are among those that could see new fields producing over 100,000 bpd of oil by the end of the decade; Mozambique and Tanzania are looking for gas and planning compression plants to liquefy it for shipping to Asia.

By 2018, sub-Saharan Africa could be producing an extra 400,000 bpd of oil, according to consultants Wood Mackenzie. That would, for example, almost meet the demand of wealthy Sweden and Denmark together – 15 million people – and would take the sub-Saharan region’s total crude output to 6.6 million bpd.

Click here to read the full Reuters report.