Feedback Form
Home Features Mastermind Videos About Advertise Blog Network Contact
   

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

Featured Ebook


ebook Famous Entrepreneurs - Modern Empire Builders


Featured Ebook

More Evan Carmichael
Have A Suggestion?

Sales Lessons From Starbucks And Dell

2.2 Sectoral performance III: Economic Report on Africa 2007

 
African Accounts - Meet The Authors
Shell , Resource Shell Foundation
Resource
David , MicroCapital David Satterthwaite
MicroCapital
Andrew , amGLOBAL Consulting Andrew Mack
amGLOBAL Consulting
Jabu Bags , Profile Jabu Bags
Profile
African Accounts - Meet The Authors
2.2 Sectoral performance III: Economic Report on Africa 2007
   

The energy sector In 2005, Africa’s production of crude oil averaged 8856 million barrels per day, which was 6.1 per cent higher than the 2004 average. Algeria, Angola, Libya, and Nigeria are the main oil producers, with a share averaging 75 per cent in 2005.

Other oil producers are Cameroon, Chad, Congo, Côte d’Ivoire, Egypt, Equatorial Guinea, Gabon, Mauritania, Sudan, and Tunisia.

As far as natural gas is concerned, Africa’s production in 2005 averaged 171,735 million standard cubic metres, which represented an increase of 13.1 per cent from 2004. This raised Africa’s share in world gas production from 5.5 per cent in 2004 to 6.1 per cent in 2005 (table A2.1 in Appendix). Algeria accounted for 50 per cent of Africa’s total production of gas, followed by Egypt, Libya, and Nigeria, together accounting for about 44 per cent in 2005. The increase in African production of natural gas is explained by two main factors. The first is related to the acceleration of the level of substitution of crude oil by natural gas in the generation of electricity around the world, which increases the level of global demand for natural gas. The second reason is the high level of international prices for both oil and gas, which increased the level of extraction of gas on the continent.

At the end of 2005, African proven reserves of crude oil represented 10.2 per cent of the world’s total, while reserves of natural gas in Africa accounted for only 7.9 per cent of the world’s total (table A2.2 in the Appendix). Algeria, Libya, and Nigeria lead in terms of proven reserves with a share of 76 per cent of total African reserves, followed by Angola, Egypt, Gabon and Sudan with a combined share of 18.4 per cent.

Africa continues to be a net exporter of crude and refined oil products. In 2005, exports of crude oil reached 6477.6 million barrels per day, which represented an increase of 1.8 per cent from 2004. However, Africa’s share in the global exports of crude oil declined slightly from 14.9 per cent in 2004 to 14.5 per cent in 2005.

For refined products, exports grew slightly by 0.8 per cent compared to 2004. This growth is observed after three successive years of decline in exports of refined products as a result of the higher growth of domestic demand for these products than for refining capacity. In fact, in 2005, African consumption of refined products grew by 2.8 per cent compared to 2004 while the refining capacity grew by only 0.5 per cent during the same period. Five countries dominate the demand for refined products:

Algeria, Egypt, Nigeria, Libya, and Tunisia, accounting for almost 65 per cent of the total African consumption of refined products in 2005. Overall, exports of both crude and refined oil products from the region grew by 1.7 per cent relative to 2004,compared to 4.6 per cent for the world, which shows a continent-wide structural bottleneck in refining capacity. To learn more about this author, visit United Nations Economic Commission for Africa's Website.

Like this article? Share it with your friends
[Get Copyright Permissions] E-Mail | Print | More  


Related Articles Related Articles
4.0 Diversification trends in Africa: Economic Report on Africa 2007
  The diversification of African economies is one way through which the recent economic growth achievements could be sustained. Africa’s economic transformation can be achieved through both horizontal and vertical d...
1.8 References: Economic Report on Africa 2007
  References
V. D. The Future of China-Africa Economic Relations: FACTORS INFLUENCING THE GROWING TIES
  China’s growing role in Africa is not transitory. As China-Africa economic relations are increasingly based on trade and investment, and trade is based on more than just commodities, the relationship is likely to ...
Overview IX: Economic Report on Africa 2007
  Policies to increase diversification
Implications of the New Agreement for Africa’s Export Trade
  Note that contracting parties of GATT 1947 wishing to become original members of the World Trade Organization are required to accept all 12 MTAs on goods incorporated into the Agreement, without exceptions or rese...

Related Forum Posts Related Forum Posts
EvanCarmichael vs. Entrepreneur.com EvanCarmichael vs. Entrepreneur.com
Kiva Kiva
Re: New top Banner - my feedback Re: New top Banner - my feedback
April Update: EvanCarmichael.com vs. Entrepreneur.com April Update: EvanCarmichael.com vs. Entrepreneur.com
Evancarmichael.com vs. entrepreneur.com Evancarmichael.com vs. entrepreneur.com
SEO forum category? SEO forum category?
Laptop v PC Laptop v PC
Women in Theatre TV Show - streaming video Women in Theatre TV Show - streaming video

 
About the Author


United Nations Economic Commission for Africa
(Visit United Nations's Website)
The United Nations Economic Commission for Africa (ECA) is the regional arm of the United Nations, mandated to support the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa's development.
Have A Suggestion?

View Author's Video
Become An Author

Free Downloads


United Nations Economic Commission for Africa's

Complete
List Of
African-Accounts
Articles


First Name
Last Name
Email
 
If you enjoyed this article, get United Nations Economic Commission for Africa's Complete List of African-Accounts Articles For FREE!
Become An Author