in 2022. Around 332 million metric tons of
that same year. The region generated seven million barrels per day, one of the lowest
since 2000. However, oil remains a primary driver for the economy in producing countries, and its vast reserves may launch other African nations as new producers. The hydrocarbon sector has also shown its potential regarding
African oil and gas powerhouses
Crude oil and natural gas production is distributed widely in Africa but heavily concentrated in the West and North regions. Located on the West African coast,
Nigeria is the major and more mature African oil producer, accounting for around 21 percent of the continent’s production in 2022. Algeria, Angola, Libya, and Egypt follow, composing the five
leading African oil producers. Moreover, these five countries, together with Equatorial Guinea, also constitute the
largest producers of natural gas in Africa. Altogether, they accounted for over 90 percent of the continent’s output in 2022. In terms of
oil refinery capacity, strong variations are registered among the said five countries, ranging from 833 thousand barrels per day in Egypt and 80 thousand barrels per day in Angola.
Fossil fuel exports
With the main African oil and gas producers in West and North Africa, the regions accounted for some eight percent of
global oil exports in 2022. That same year, Nigeria led crude oil exports, with 1.4 million barrels of oil sold on the international market per day. The country also exported large quantities of natural gas, around 32 billion standard cubic meters, following Algeria and before Egypt. Natural gas exports from both Northern African countries reached 49 billion and 12 billion standard cubic meters, respectively. Consequently, fossil fuels play a crucial role in producing countries' economies. For instance, crude oil and natural gas accounted for nearly six percent of
Nigeria’s GDP and contributed 19 percent of
Algeria’s GDP.
New players in the sector
Apart from the established main producer countries, other African nations have been rising as potential players. As of 2020, Africa counted over 15
upcoming liquids projects. The main one is located in Uganda, with an estimated resource volume of 945 million barrels of oil equivalent. Moreover, roughly 40 percent of
global gas discoveries in the last decades were in Africa. As the third-largest holder of natural gas reserves in the region, Mozambique has a
promising future in the sector.
This text provides general information. Statista assumes no
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Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
