In a recent report on African crude oil production, Nigeria has emerged as the leading country, surpassing Angola and Algeria. Despite an overall decrease of 0.81% in Africa’s crude oil and condensate production in 2022 compared to the previous year, Nigeria has maintained its position as the continent’s largest oil producer. Angola and Algeria closely trail behind, solidifying their status as significant players in the African energy sector.
With Nigeria’s extensive oil reserves and well-established infrastructure, the country has consistently been a major contributor to Africa’s oil production. Its continued dominance in the market is a testament to its robust energy sector and strategic investments in the industry.
Angola, on the other hand, has made significant strides in recent years and solidified its position as the second-largest oil producer in Africa. The country boasts a wealth of offshore crude oil fields that have significantly contributed to its overall production levels.
Meanwhile, Algeria continues to assert itself as a formidable contender in Africa’s oil market. The country’s Hassi Messaoud oil field, operated by Sonatrach, has been a critical factor in its sustained oil production and reinforces its standing in the industry.
In terms of future projections, a forecast suggests a potential decline of 8.78% in Africa’s annual production of crude oil and condensate by 2030. This projection calls for careful planning and strategic decision-making to mitigate any potential challenges that may arise in the coming years.
Examining the top oil fields in Africa, the following stand out for their substantial contributions to production in 2022:
1. Hassi Messaoud (Algeria)
2. El-Sharara (Libya)
3. Waha Concession Fields (Libya)
4. Kaombo Complex (Angola)
5. OML 49, 90, 95 (Nigeria)
6. OML 104, 67, 68, 70 (Nigeria)
7. Block 0 (Area A and B) (Angola)
8. Dalia (Angola)
9. CLOV Complex (Angola)
10. Agbami (Nigeria)
These oil fields, spread across various African countries, have played a vital role in meeting the continent’s energy demands.
While Nigeria, Angola, and Algeria lead the African crude oil market, it is important to acknowledge the challenges that lie ahead. Fluctuating commodity prices, infrastructure limitations, and geopolitical factors can impact production levels. However, the countries involved have developed long-term strategies to ensure the sustainability and optimization of their oil fields.
As the African oil industry continues to evolve, it remains crucial for stakeholders to focus on innovation and sustainability. By navigating the complex energy landscape, these countries can maximize their oil reserves’ potential, leading to economic growth and stability across the continent.
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Subsidy Removal: Farmers group to provide foodstuffs to Nigerians on credit
A young boy poses in front of his shop where he sells foodstuffs at Ajara Market in Badagry, near Lagos, on September 6, 2019. (Photo by Benson IBEABUCHI / AFP)
Amidst efforts to cushion the effect of the subsidy on Nigerians, the Eden Group of Farmers in partnership with the National Cooperative Financing Agency of Nigeria has unveiled plans to provide foodstuffs to Nigerians on credit.
The program which uses a cooperative model, is aimed at delivering food items through an installment payment system for a period of five months for a N55,000 food package
The project tagged, Operation Feed the Nation, is intended to serve both government workers and private individuals with a registered membership of cooperative society across the nation and help them achieve the zero hunger objective.
The Chief Executive Officer, of Eden Group, Dr Michael Ashimashiga, during a working visit to the secretariat of Abuja Cooperative Federation yesterday, said the package products and services will go far to reduce the effect of the high cost of food on the vulnerable members of society in the era of financial burden occasioned by the fuel subsidy removal.
He explained that the cooperative was expected to pay 20 per cent of the total cost of the food items while individuals pay the balance of 80 per cent for the period of five months.
He said: “This product is to help and then liaise with this cooperative that we have paid a working visit to them to show them our products and services so that they can in turn, reach out to all the cooperatives, who are recognized units in every sector and take some of these products given to the staff or registered members and then, they pay for them gradually.”
He stated that the food items they are offering to Nigerians are fortified with nutrients they include rice, beans, groundnut oil, garri, palm oil, moringa tea and wheat.
In his remarks, the President, of Abuja Cooperative Federation, Emmanuel Atama, assured the group of his commitment to key into the innovation which he described as cooperative instrumentality towards eliminating hunger in line with goal two of the Sustainable Development Goals agenda.
Joke Falaju | The Guardian
