Leading oil producing countries in Africa 2023
Nigeria was the leading oil producer in Africa as of 2023. Oil production amounted to roughly 74 million metric tons in the country. Algeria, Libya, and Angola followed, each with an output above 55 million metric tons. In the same year, the overall production of oil in Africa, including crude oil, shale oil, oil sands, and NGLs, reached 341.5 million metric tons, 2.4 percent more than in 2022.
Main producers, main exporters
While being the main oil producer in Africa, Nigeria was also the largest crude oil exporter in the continent. The country sold nearly 1.4 million barrels of oil daily to the international market in 2022. Angola and Libya followed, with an export volume of roughly 1.1 million and 920,000 barrels per day, respectively. North and West Africa's contribution to the global oil exports reached nearly eight percent as of 2023.
Reserves and refinery capacity
Africa’s crude oil reserves remained stable in 2021, accumulating to 125.3 billion barrels. From a country perspective, Libya had the highest amount of crude oil reserves in the continent, 48.4 billion barrels, while the Nigerian reserves amounted to 36.9 billion barrels. When it comes to oil refining, Egypt led, with a refinery capacity of 833 thousand barrels daily.
