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Top 10 Largest Oil-producing Nations in Africa Mid-way Into 2023



Africa is a continent of remarkable diversity, not only in its cultures, languages, and landscapes but also in its vast natural resources. With a wealth of mineral wealth, agricultural potential, and burgeoning industries, several nations across the continent have established themselves as top producers. These leading nations play a pivotal role in advancing Africa’s economic prospects and fostering regional and continental development.

However, challenges such as inequality, infrastructure deficits, and governance issues persist and require concerted efforts to address. Regardless of said inequalities, Africa continues to provide its quota of resources to the entire planet, and petroleum products are no exceptions.

Africa is home to some of the world’s major oil-producing countries. Among the top African oil producers are Nigeria, Angola, Algeria, Egypt, and Libya. These nations have substantial oil reserves that have attracted international interest and investment. Oil production contributes significantly to their GDPs and export revenues.

Amidst these predominant oil giants exist other African countries that also produce a substantial amount of oil. Below are 10 of the top oil-producing countries on the continent.

This list below is courtesy of Trading Economics, a data platform that offers its customers precise data for 196 nations, including historical data and projections for more than 20 million economic indicators, currency rates, stock market indices, government bond yields, and commodity prices.

Also, this list covers oil production data, dating back to as April 2023, considering nations with outdated figures, but primarily the list covers oil production of May, June, and July. The figures are presented in barrels per day, BBL/D/1K.

RankCountryOil-production figures (BBL/D/1K)Month
1.Libya1173July
2.Angola1149July
3.Nigeria1081July
4.Algeria955July
5.Egypt565May
6.Republic of the Congo282July
7.Gabon193July
8.Sudan187April
9.Ghana175April
10.Chad88April

Source : Business Insider Africa

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