The Organization of Petroleum Exporting Countries (OPEC) has said Africa’s proven oil reserves reached 126 billion barrels in 2019, with Nigeria having 36.9bn, which is about 29 per cent of the continent’s total reserves.
OPEC Secretary General, Mohammad Sanusi Barkindo, stated this at the African Energy Week (AEW) 2021 in Cape Town, South Africa, where he also spoke about a bright look for Africa.
“Africa’s potential refining capacity is expected to start increasing in 2022 at just below 0.4 million barrels per day (mb/d0, before reaching just above 1mb/d in 2026. Many of these projects will involve petrochemical integration…
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