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. Libya more than doubled oil supply to 865 mbbl/d, helping it become Africa’s fourth largest oil producer in 2017, moving Egypt to the fifth position. Tunisia experienced the steepest drop of 11.8% y/y, pumping 53 mbbl/d of crude oil in 2017. South Sudan witnessed another decline in oil production in 2017 but as the country emerged from a five-year civil war with the peace deal agreed in August 2018, prospects for the oil sector look encouraging.

01 REGIONAL OVERVIEW 

02 NIGERIA 

03 ANGOLA 

04 ALGERIA

05 LIBYA 

06 EGYPT