Oil and Gas Programme
Crude oil production in Africa is estimated at almost 10 million barrels per day, representing about 10% of global crude oil production. About 75% of the production is exported as crude while majority of oil products is imported, which make’s Africa the only continent in the world which is a net exporter of crude oil as well as a net importer of petroleum products.
AFREC’s programme on Oil and Natural Gas focuses on creating Africa domestic oil products market in collaboration with institutions and key African crude oil producers, net oil products consumers, current owners of unused and underused refineries, and regional and national authorities.
The programme concentrates on the following:
- Create African Domestic Market to enable cross-border trade opportunity for crude oil, oil products and natural gas.
- Revisit the existing oil and gas policies and laws with a view to strengthen policies targeted at oil and gas market.
- Develop policies, strategies and action plans for expansion of refinery production capacity in Africa.
In addition, Africa is endowed with high quantity of natural gas, which can be found mainly in Algeria, Tunisia, Libya, Nigeria and Egypt. 40% of global new natural gas discoveries in the last ten years are in Africa, mainly Senegal, Mauritania, Mozambique, Tanzania, among others. currently, over 45% of natural gas production in Africa is exported and the contribution of the natural gas in Africa energy balance is minimal. However, resources such as natural gas can be used to advance long-term welfare in relation to the quest of addressing the global threat of climate change and energy transition.