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Page added on December 29, 2006

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Unrest curtails Africa oil

Petroleum-rich Nigeria led all of Africa’s oil-producing states in two crucial categories in 2006: barrels produced per day and violence against foreign energy firms.

While the outlook for ending the violence hampering the oil industry in Nigeria appears dismal, nearby Central African nations are reportedly slowing down production except for Chad.
According to a report by the Bank of Central African States released in June, production levels in five of the six nations in the Central African Economic and Monetary Community will drop from 59.3 million tons in 2006 to 50.6 million tons in 2009 due to an “absence of any new discoveries.”


Chad is the only country expected to increase production in the coming years, said the bank report, with levels increasing to 8.6 million tons in 2007. Levels then are forecasted to level off at 7.7 million tons by 2009.


Meanwhile, Chadian neighbor Sudan, with the support of Nigeria, inched closer to gaining full-scale recognition as the world’s next great oil producer by becoming a member of the Organization of Petroleum Exporting Countries.

UPI



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