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African Continent


African Continent

The Biggest Oil Producers in Africa

Africa is a key territory on the global map. Rich in oil and natural resources, the continent holds a strategic position.
 
Rich in oil and natural resources, Africa is the world's fastest-growing region for foreign direct investment. It has approximately 30 percent of the earth's remaining mineral resources.
 
It's home to more than 40 different nations and around 2,000 languages. Sub-Saharan Africa has six of the world's 10 fastest-growing economies. North Africa has vast oil and natural gas deposits, the Sahara holds the most strategic nuclear ore, and resources such as coltan, gold, and copper, among many others, are abundant on the continent.
 

The region is full of promise and untapped riches - from oil and minerals and land to vast amounts of people capital - yet, it has struggled since colonial times to truly realise its potential.The African continent is home to five of the top 30 oil-producing countries in the world.

1. Nigeria

Nigeria produced more than 2.4 million barrels of oil per day in 2014 to rank as the 13th-largest oil producer in the world. The state-owned Nigerian National Petroleum Corporation (NNPC) is responsible for regulating Nigeria's oil and gas sector, and for developing its oil and gas assets.The largest international oil companies operating in Nigeria include Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, Total S.A. and Eni S.p.A.

2. Angola

Angola produced nearly 1.8 million barrels of oil per day in 2014, continuing a period of fluctuating production that began in 2009. The Sociedade Nacional de Combustiveis de Angola, also known as Sonangol, is Angola's state-owned oil company. It oversees virtually all oil and gas development in the country.Some of the biggest oil companies in Angola include Chevron Corporation, Exxon Mobil Corporation, Total S.A., Statoil ASA, Eni S.p.A. and China National Offshore Oil Corporation, also known as CNOOC.

3. Algeria

Algeria produced just over 1.7 million barrels of oil per day in 2014 to maintain its position among the top tier of African oil producers.Entreprise Nationale Sonatrach is Algeria's state-owned oil and gas company. International oil majors involved in Algerian oil production include BP plc, Repsol S.A., Total S.A., Statoil ASA, Eni S.p.A. and Anadarko Petroleum Corporation.

4. Egypt

Egypt produced 668,000 barrels of oil per day in 2014.Egypt's state-owned oil company, Egyptian General Petroleum Corporation (EGPC), controls all oil production in the country. EGPC partners with a number of international oil companies in offshore and onshore production operations in Egypt. Eni S.p.A. and BP plc are major shareholders in offshore Egyptian production assets. The American oil company Apache Corporation is a partner in production assets in Egypt's Western Desert.

5. Libya

Libya produced about 516,000 barrels of oil per day in 2014.The state-owned National Oil Corporation has controlled the oil and gas sector in Libya for many years. International oil companies with operations in Libya include ConocoPhillips Co., Repsol S.A., Total S.A., Eni S.p.A. and Occidental Petroleum Corporation.

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