Africa is the second largest continent on Earth, it is home to many great nations and has contributed immensely to the growth and development of human civilization by sharing its art and resources with the global community.
Over the past few centuries, the continent has been subject to industrial exploration which has led to the discovery of various natural resources like gold, diamond, salt, limestone, herbs and most recently, crude oil.
Crude oil has become a major source of fuel and has integrated itself into human everyday life thanks to its ability to be used for multiple things. Now, let us take a look at ten African countries that produce the most oil. Hopefully, you would learn a thing or two about Africa’s role in the global oil sector.
Top 10 Oil Producing Countries In Africa
10. SOUTH AFRICA
Last on our list, but certainly not the least is none other than South Africa, with a production capacity of 160,000 Barrels Per Day. They are the tenth (10th) highest oil producing country in the continent and are ranked forty-first (41st) worldwide.
In spite of being number ten in terms of oil production capacity, its advanced infrastructure and massive economy have allowed the country to possess the second best refining capacity in all of Africa.
With a production capacity of 240,000 Barrels a day, Gabon happens to be the 9th largest African oil producing country and is ranked at 37th in the globe. Thanks to corporations and the rich abundance of oil in the country, the country’s economy has grown to be solely dependent on its oil production.
The Republic of Congo is the 8th on the list of highest oil producing countries in Africa and the 36th largest oil-producing country in the World. Oil production accounts for the majority of the country’s revenue with about 85% of the Republic of Congo’s export revenues and almost 80% of the government’s total revenue.
Congo’s oil daily production is around 259,000 barrels; its production figure has a high chance of declining as a result of natural declines at mature fields.
7. SUDAN & SOUTH SUDAN
These twin countries are seventh on our list, producing a daily average of 262,000 Barrels. They are the thirty-fifth (35th) highest producers of oil globally. Although most of the oil production and exploration takes place in South Sudan, the ports and pipelines in Sudan are still very much in use, leading to a healthy interdependence of both countries.
Before the split of the country, Sudan was ranked second largest non – OPEC oil producer in the continent. The decline in production happened after the split. The decline continues to this day due to the strife and war within the country.
6. EQUATORIAL GUINEA
The country that is Equatorial Guinea is the sixth-highest crude oil-producing country in Africa. It is also ranked 34th on the global scale, producing tens and hundreds of thousands of barrels on a daily basis.
With over a billion barrels of oil reserve, it is home to the eighth (8th) largest oil reserve in the sub-Saharan region of the continent.
Libya is another oil producing country in West Africa. Libya had produced about 516,000 barrels of oil per day in 2014, which is a decrease of more than 47% from the previous year. This decline was basically a result of national protests that broke out in 2013.
The country experienced even more severe disruptions in the oil supply during the Libyan civil war in 2011 when the oil production declined from about a daily amount of 1.8 million barrels in 2010 to about 30% of 1.8million barrels.
Before the year 2011, Libya maintained oil production of more than 1.7 million barrels per day for six consecutive years. The country has a reserve of oil amounting to about 48 billion barrels, which is the most in Africa and among the top 5 in the world.
The state-owned National Oil Corporation has been in control of the oil and gas sector in Libya for many years. Although, the civil unrest in the country has caused a power struggle that has not been concluded as of September 2015.
International oil companies were active in Libyan oil production before this period, but the future of this involvement will continue to be cloudy and shaky until the instability is resolved.
Egypt drills its way to number four (4) on our list of African countries with the highest production rate in the continent. At some point in 2014, the country’s 668,000 barrels per day output dropped by 9.3% mainly due to the maturing of oil fields and noticeable growth in oil consumption.
The Egyptian General Petroleum Corporation or (EGPC) as it is called, is the state-owned oil company that is in charge of controlling and overseeing all oil-related activities in the country.
The corporation works in tandem with big leagues like BP oil plc, Eni S.P.A, who are certainly not minor stakeholders in the country’s offshore production assets. Apache Corporation, an American owned oil company has partnered with Egypt in oil exploration and production in the country’s western desert.
It is no easy feat to be among the top three oil producing nations in Africa. With a record of over 1.7 million barrels each day, Algeria has consolidated itself as one of the movers and shakers in the African oil sector.
Due to delays in investment into production projects and infrastructure for oil production, daily output dropped by over 150,000 barrels of oil. These happened in 2013-2014, however, nine years prior to this, the country was fairly consistent in its oil production rate, reaching approximately 1.9 million barrels of oil daily.
The country’s state-owned oil company is the Entreprise Nationale Sonatrach; which is responsible for ensuring that all oil corporations keep in line with the Hydrocarbon act of 2005.
International companies like Total, Statoil and many others are involved in the mining, exploration and production of oil.
Second on our list is of course Angola, a country capable of producing approximately 1.8 million barrels daily in its oil producing prime. Initially, in its early days of production, Angola produced around 742,000 barrels of oil on a daily basis, which was quite good for a country entering the oil business.
But after the discovery of its deepwater oil fields, production almost tripled over the years. Angola’s national oil company; “Sonangol”, oversees the development of oil and gas and everything related to it in the country.
In the country, a major share of the oil operations, from exploration to refining is all done by international corporations under production contracts with Sonangol. Chevron and Exon Mobil are but a few of the big oil corporations operating in Angola. This has led to the maintenance of steady oil production and growth in the country.
The number one spot has tethered between Nigeria and Angola over the years. From September 2016 to April 2017, Angola produced approximately 1.7m barrels on a daily basis, while Nigeria could only cough out about a 1.5million barrels.
This has long changed since Nigeria came back in 2019 to fully consolidate itself as the number one largest oil producing country in Africa. Nigeria also has many oil producing states to boast of.
Thanks to various setbacks from the Niger delta militia in the country, there has been an unsteady rate of production. The Niger Delta militants began operating against Nigeria’s oil industry due to the fact that the oil companies were polluting their environments by oil spillage and mismanagement of wastes, leading to an economic and agricultural decline in those communities.
How many African countries produce oil?
More than 10 African countries produce oil, however, there are majorly around known 10 largest oil producing countries in Africa.
Which Country Produces Most Oil In Africa?
Africa is a continent with many oil-rich countries. However, Nigeria is the continent’s top oil producer, followed by Angola and Algeria. Nigeria produces about 2.2 million barrels of oil per day, while Angola and Algeria produce about 1.6 million and 1.5 million barrels per day, respectively.
How Many Countries In Africa Have Oil?
As of 2019, it is estimated that there are around 37 oil-producing countries in Africa.