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Report Africa - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

Africa - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Africa: Crude Oil Market 2024

Crude Oil Market Size in Africa

The African crude oil market reduced modestly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a noticeable downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Crude Oil Production in Africa

In value terms, crude oil production shrank to $X in 2022 estimated in export price. Overall, production saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crude Oil Exports

Exports in Africa

In 2022, exports of crude petroleum oil in Africa reduced to X tons, declining by X% against the previous year's figure. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude oil exports expanded significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Angola (X tons) and Nigeria (X tons) were the major exporters of crude petroleum oil in Africa, together finishing at near X% of total exports. Libya (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Algeria (X%). Gabon (X tons), Ghana (X tons), Equatorial Guinea (X tons), Congo (X tons), Egypt (X tons), Cameroon (X tons) and Chad (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cameroon (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Angola ($X) and Libya ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Algeria, Gabon, Ghana, Egypt, Equatorial Guinea, Congo, Cameroon and Chad lagged somewhat behind, together comprising a further X%.

Egypt, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Crude Oil Imports

Imports in Africa

Crude oil imports dropped rapidly to X tons in 2022, reducing by X% compared with the previous year's figure. Overall, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, crude oil imports reached $X in 2022. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of crude petroleum oil, namely Equatorial Guinea, South Africa and Egypt, represented more than two-thirds of total import. It was distantly followed by Cote d'Ivoire (X tons), mixing up a X% share of total imports. Tunisia (X tons), Cameroon (X tons) and Senegal (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Equatorial Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude oil importing markets in Africa were Equatorial Guinea ($X), Egypt ($X) and South Africa ($X), with a combined X% share of total imports.

Equatorial Guinea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Equatorial Guinea ($X per ton), while Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2023 were Angola, Nigeria and Algeria, together accounting for 55% of total consumption.
The countries with the highest volumes of production in 2022 were Angola, Nigeria and Libya, with a combined 64% share of total production. Algeria, Egypt, Congo and Gabon lagged somewhat behind, together accounting for a further 26%.
In value terms, the largest crude oil supplying countries in Africa were Nigeria, Angola and Libya, with a combined 78% share of total exports. Algeria, Gabon, Ghana, Egypt, Equatorial Guinea, Congo, Cameroon and Chad lagged somewhat behind, together accounting for a further 20%.
In value terms, Equatorial Guinea, Egypt and South Africa appeared to be the countries with the highest levels of imports in 2022, together comprising 78% of total imports.
The export price in Africa stood at $618 per ton in 2022, increasing by 20% against the previous year.
The import price in Africa stood at $780 per ton in 2022, growing by 34% against the previous year.

This report provides an in-depth analysis of the crude oil market in Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Production in Africa, split by region and country
    • Trade (exports and imports) in Africa
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • Algeria
      • Angola
      • Benin
      • Botswana
      • Burkina Faso
      • Burundi
      • Cabo Verde
      • Cameroon
      • Central African Republic
      • Chad
      • Comoros
      • Congo
      • Democratic Republic of the Congo
      • Djibouti
      • Egypt
      • Equatorial Guinea
      • Eritrea
      • Ethiopia
      • Gabon
      • Gambia
      • Ghana
      • Guinea
      • Guinea-Bissau
      • Kenya
      • Lesotho
      • Liberia
      • Libya
      • Madagascar
      • Malawi
      • Mali
      • Mauritania
      • Mauritius
      • Mayotte
      • Morocco
      • Mozambique
      • Namibia
      • Niger
      • Nigeria
      • Reunion
      • Rwanda
      • Saint Helena, Ascension and Tristan da Cunha
      • Sao Tome and Principe
      • Senegal
      • Seychelles
      • Sierra Leone
      • Somalia
      • South Africa
      • Sudan
      • Swaziland
      • Tanzania
      • Togo
      • Tunisia
      • Uganda
      • Zambia
      • Zimbabwe
      • Cote d'Ivoire
      • Western Sahara
      • South Sudan

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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