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Top 10 Oil and Gas Companies in Africa 2019 | Latest Update.
Economic growth seems to be the approach of the immediate future for the African continent, and merrily therefore a major consider this growth is exaggerated exploitation of the continent’s several natural resources, one in all that is oil, whereas Africa can’t boast the oil reserves and production of sure alternative components of the planet, its oil fields still command vital attention native boring has been steady increasing ever since the 1980s; in 1981 the continent created roughly five million BOE/D, a figure that doubled by 2010 to ten million, in keeping with the United States Department of Energy and also the Oil & Gas Journal.
Oil and Gas Companies in Africa
Moreover, Africa’s verified oil reserves also are on the increase, an honest indicator for sustained growth; within the Nineteen Eighties verified oil reserves remained stable around sixty million BOE, however they then steady exaggerated over the following thirty years to achieve a doubled figure of roughly a hundred and twenty million BOE in 2010. Clearly there’s a lot of cash to be created by oil corporations in operation in Africa.
At present the highest ten native oil-producing nations area unit Nigeria, Libya, Algeria, Angola, Egypt, Sudan, Spanish Guinea, Chad, Congo and Gabun. Nigeria is Africa’s clear oil frontrunner, with verified reserves of quite thirty seven billion BBLs, in keeping with the United States Department of Energy’s 2011 figures.
That said, that oil corporations area unit pull within the biggest profits in Africa today?
Sonatrach is an Algerian energy company and it also doubles as Algeria’s national energy company. It has interests in different oil and gas activities from the drilling to the processing of crude oil. For many years Sonatrach has remained the biggest African company with oil and gas as its interest and it makes profits which are as high as 100 billion dollars.
Algeria’s economy is mostly dependent on this and it has been the North African country’s biggest export and source of foreign exchange.
It is also important to note that Sonatrach is also top 15 biggest oil companies in the world and its employees number more than 100 thousand hence it provides employment for Algerians and it has a positive impact on the employment rate in the country.
It was established in 1963.
Facebook page: www.facebook.com/sonatrach_dz
Twitter page: www.twitter.com/sonatrach_dz
2. SONANGOL GROUP.
The Sonangol cluster is it had been established in 1976 and has its headquarters in Luanda. The cluster consists of Sonangol EP and its varied subsidiaries, that principally have Sonangol as their primary consumer.
In 2010 African country had verified oil reserves of nine.5 billion BBLs, in keeping with figures from the Oil and Gas Journal. it’s Africa’s second largest oil producer.
3. NIGERIAN NATIONAL PETROLEUM CORPORATIO (NNPC)
According to Forbes’s 2012 list “The World’s twenty five Biggest Oil Companies”, Nigeria’s state-owned oil and public-service corporation NNPC produces one.4 million BBLs each day and is that the twenty fourth biggest company within the world.
Founded in 1977 and with its headquarters in national capital, the NNPC these days manages a venture between the govt. and many foreign multinationals (e.g. Royal Dutch Shell, ExxonMobil, Chevron and Agip) that engages in oil exploration and production.
4. SASOL LIMITED
Sasol Limited is a South African based petroleum company. Even though South African is not top on the list of oil-producing companies, Sasol Limited has grown to be a top African petroleum company and continues to be a force to reckon with in African’s oil industry since the company was formed in 1950.
It has more than 30,000 staff in its workforce and the company’s revenue is in tens of billions of dollars. It has businesses interests all over the world.
Facebook page: www.facebook.com/SasolSA
Twitter page: www.twitter.com/SasolSA
5. THE NATIONAL OIL CORPORATION (NOC)
Lybia’s national oil and gas company is NOC and it used to be the mother company of the Arabian Gulf Company ( AgaCo).
Libya has the biggest oil deposits in Africa. It isn’t surprising that Lybia is one of the richest countries in Africa.
Sudan National Petroleum Corporation otherwise called SudaPet is a Sudanese oil and gas company and it is Sudan’s official petroleum company. Surprising it is basically just an agency created by the Sudanese government about 21 years ago in 1997 to oversee the oil and gas activities by other oil and gas companies which explore and refine crude oil and to make sure the necessary revenue from these activities are given to the Sudanese government.
Sudan’s oil deposits are top 10 largest oil deposits in Africa so the Sudanese government is enriched by these and it is the major contributor to the Sudanese economy.
7. THE ARABIAN GULF COMPANY (AGACO) – is a Libyan oil and gas company which has diversified interests such as petroleum drilling, petroleum refining and production of the substituents or petroleum products.
8. The National Petroleum Company of the Congo (SNPC),- based mostly in national capital and targeted on oil exploration and production.
9. VEGAS OIL AND GAS
You must have noticed that most North African countries are oil-producing countries. Vegas Oil and Gas is headquartered in Egypt and it focuses on petroleum drilling.
10. PETRO GABUN
This is a Gabonese oil and gas company.
Even with the clamour for greener energy and the springing up of energies to produce green energy, the replacement for petroleum and its product is still not competitive enough and the demand for oil and gas, surprisingly, continues to increase with the world’s population and the urbanization of rural areas. Consequently, oil and gas companies all over the world – and in Africa especially – continue to stay relevant and seemingly would do so for now.
The economies of many African countries are dependent on the revenue of oil and gas and it is not surprising to realize that the richest African countries are oil-producing countries.
There you have it – the top 10 oil and gas companies in Africa.
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