M a r k e t N e w s

The race for oil and gas in Africa

Posted on : Tuesday , 25th October 2016

 Africa is home to some of the world's fastest-growing economies, with many of them relying on oil for foreign exchange.

 
It is estimated that 57 percent of Africa's export earnings come from hydrocarbons. Proven oil reserves have grown by almost 150 percent, increasing from 53.4 billion barrels since 1980, to 130.3 billion barrels by the end of 2012. 
 
The region is home to five of the top 30 oil-producing countries in the world, and nearly $2 trillion of investments are expected by 2036.
 
Due to these conditions, the interest of Europeans, Americans and Chinese remains high in the continent.
 
American oil company ExxonMobil is one of the largest foreign investors in Africa. Over the last years, it has committed more than $24bn to energy exploration and development.
 
Italy remains close. ENI, an Italian multinational oil and gas company, plans to invest around $25bn mainly in oil and gas, representing 60 percent of the company's investment.
 
China is the world's second-largest consumer of oil, and it's projected to become the world's largest consumer by 2030. It is estimated that the country will import over 66 percent of its total oil by 2020, and 72 percent by 2040. Its second-largest source of crude imports is Africa. 
 
The interest of major US energy companies in Africa has not decreased, and the needs of Asia and Europe will not stop growing.
 
"We all know oil resources are becoming increasingly rare. The last major reserves of oil in Africa will become increasingly important. Pre-positioning oneself with a view to exploiting these resources is vital," says Jean Batou, professor of history at Lausanne University, in the documentary titled, Shadow War in the Sahara.

Source : www.aljazeera.com
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • GLOBE GAS specialises in Multi Cylinder installation, Pipeline Installation, LPG Tank (Bulk) Installation, Designing Kitchen Layout etc.
  • Bakery Equipment, Flour Mill, Bread Improver, Dried Fruit Processing machine
  •  SS Gas Lab Asia is a reputed engineering company, engaged in manufacturing of carbon dioxide gas plants, hydrogen gas plants, nitrogen dioxide gas plants, CO2 storage tanks, CO2 transportation tankers and dry ice plants.
  • Engineering Expo, is India’s largest multi-location trade show on manufacturing
  • The trusted source for all your heavy  equipment needs!
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
  • Aygaz is the only fully integrated LPG company in Turkey, operating in all LPG processes, including production, procurement, storage and filling
  •  ABL Machine Tools, One of the group companies of ABL India is India
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Manufacturer of auxiliary equipments
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • FAS Flüssiggas-Anlagen GmbH, Salzgitter, is one of the leading manufacturers and suppliers of LPG fittings and components for complete stations for the storage
  • Used Machinery
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  • Industrial  machinery
  • Leading manufactures and expoters of the electronic products
  • Manufacturer & Trader of coil winding machines, toroidal coil winding machines, wire bunching machines, complete winding solution
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • Hevt Duty Machinery
  • Air Conditioning Hire
  • Multi feedstock batch processing biodiesel equipment
  •  Unipro was born to transmit and give it’s experience in trading high quality safety equipments ensuring high quality products under international standards required in the Oil and Gas, Mining, Construction, automotive, Steel and Chemical industries.
  • Lavorwash is a world-leader in manufacturing high pressure cleaners and vacuum cleaners for household and professional use.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2019 Afrotrade