Chapter 2. Country Overview
Author:
Mrs. Harinder K Malothra
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,
Mr. Milan M Cuc
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,
Mr. Ulrich Bartsch
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, and
Mr. Menachem Katz
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Language:
English
Print Publication Date:
23 Jan 2004
Keywords:
ISI; SI; oil-producing country; government; country; revenue; oil export; oil sector; oil-producing countries in Africa; country overview; Exports; Oil sector; Oil exports; Sub-Saharan Africa

Abstract

The seven countries in the group of oil-producing African countries together produced an average of 3.8 million barrels of oil per day in 2001, equivalent to 5 percent of world oil production. Their total production is projected to increase to an average of 5 million barrels per day by 2006. In the past, Nigeria, Angola, and Gabon were the three biggest oil producers in the region, but Gabon is projected to fall behind both Equatorial Guinea and the Republic of Congo (see Figure 1 for an overview of oil production and exports in this group of countries between 1990 and 2006). Oil exports in the region totaled more than US$25 billion per year in the period 1997–2001 and are estimated to increase to $30 billion during 2002–06.

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Cover Lifting the Oil Curse
Lifting the Oil Curse
Improving Petroleum Revenue Management in Sub-Saharan Africa
ISBN:
9781589063174
Publication Date:
23 Jan 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063174.058
Pages:
73

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