Doris Dokua Sasu
Research Expert Industry
Oil and natural gas industry in Africa - statistics & facts
Africa accounted for more than seven percent of the global oil output in 2023. Around 342 million metric tons of oil were produced on the continent that same year. The region generated 7.2 million barrels per day, one of the lowest production levels since 2000 albeit slightly increasing from 2022. 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 natural gas, reserves of which exceed 17.8 trillion cubic meters.
