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.

Improving Petroleum Revenue Management in Sub-Saharan Africa
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