Bottom of the Barrel: Africa’s Oil Boom and the Poor
Organisation: Catholic Relief Services, Stanford University
Publish Date: June 2003
Country: Africa
Sector: Petroleum
Theme: Energy
Type: Report
Language: English
Tags: Post-oil, Oil, Peak oil
Oil Boom: Peril or Opportunity? Sub-Saharan Africa is in the midst of an oil boom as foreign energy companies pour billions of dollars into the region for the exploration and production of petroleum. African governments, in turn, are receiving billions of dollars in revenue from this boom. Oil production on the continent is set to double by the end of the decade and the United States will soon be importing 25 percent of its petroleum from the region. Over $50 billion, the largest investment in African history, will be spent on African oil fields by the end of the decade.
Located in: Resources