While Africa has substantial natural resources, it has not received significant benefits from the extraction and export of such resources, particularly in oil & gas. Will AfCFTA have an impact on oil & gas industry exports?
Oil and gas and mineral resources account for more than 75% of Africa’s exports, and the continent’s potential for growth in oil & gas is significant. Estimations at the end of 2017 indicated that Africa has 487.7 tcf of proven gas reserves (7.1% of proven global reserves), while Africa’s proven oil reserves are in the region of 125 billion bbl . Read More.