According to the 2012 BP Statistical Energy Survey, Africa had proved oil reserves of 132.438 billion barrels at the end of 2011, equivalent to 41.2 years of current production and 8.01 % of the world’s reserves. Africa produced an average of 8804.4 thousand barrels of crude oil per day in 2011, 10.44% of the world and a change of -12.7 % compared to 2010.
According to the same survey, Africa had 2011 proved natural gas reserves of 14.53 trillion cubic metres, 6.97% of the world and equivalent to 71.7 years of current production while 2011 natural gas production of 202.65 billion cubic metres, a change of -5.1% versus 2010 and equivalent to 6.17% of the world total. Africa had 2011 natural gas consumption of 109.8 billion cubic metres, 3.4% of the world total.
— 2012 BP Statistical Energy Survey
An eventful year-2016 is just completed and the New Year 2017 is expected to deliver results for all; a Good Luck wish is much desired for the oil & gas sector. It seems in 2017, oil price dynamics will continue to remain uncertain and volatile. The bright spot is that most of the projections, including […]
There was a time when workers just went to work to work. When the driven and devoted were promoted into higher positions of responsibility and no one cared about the effectiveness of the team as a whole. Those times are changing though. Businesses, whether large or small, are starting to recognise the importance of empowering […]
