Africa’s Oil & Gas Market 2019/2020 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Africa’s Oil & Gas Market 2019/2020” report has been added to ResearchAndMarkets.com’s offering.
This report provides a complete and detailed analysis of the oil and gas sector for Africa. The researcher presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.
A home to 7.5% of the world’s oil reserves and 7.1% of the global natural gas reserves, Africa is an important player in the hydrocarbon industry. The continent’s share in global oil production stood at 8.7% in 2017, slightly up from 8.4% in the previous year. Africa’s contribution to the global natural gas production was smaller, with the continent accounting for a share of 6.1% in 2017, up from 5.8% in 2016.
After declining for four straight years, Africa’s crude oil production increased by 5% y/y to 8,072 mbbl/d in 2017, according to data published in the 2018 edition of BP Statistical Review of World Energy. The annual growth was the strongest among all oil producing regions and well above the global oil production increase of just 0.7% y/y.
The major contributors were Nigeria and Libya, which were the only ones among Africa’s top five oil producers to register higher production than in 2016. The others witnessed a decline, mostly in line with production cuts agreed to by OPEC members. Nigeria, Africa’s largest oil producer, registered a 4.5% rise in production to 1,988 mbbl/d in 2017.
What this report allows you to do:
Key Topics Covered
01 REGIONAL OVERVIEW
For more information about this report visit https://www.researchandmarkets.com/r/ybifuo
View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005176/en/
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INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
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PUB: 05/24/2019 08:47 AM/DISC: 05/24/2019 08:46 AM