• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 2 days Venezuela Officially In Default
  • 2 days Iran Prepares To Export LNG To Boost Trade Relations
  • 2 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 3 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 3 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 3 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 4 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 4 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 4 days Lower Oil Prices Benefit European Refiners
  • 4 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 5 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 5 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 5 days OPEC To Recruit New Members To Fight Market Imbalance
  • 5 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 6 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 6 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 6 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Alt Text

The U.S. Export Boom Goes Beyond Crude

While U.S. crude oil exports…

Alt Text

EVs Won’t Stifle Oil Demand Anytime Soon

There will be 280 million…

Emerging Energy Trends In Africa

Emerging Energy Trends In Africa

A new comprehensive report from the IEA has revealed some interesting energy trends taking place in Africa, with potential for huge growth and development. With 30% of global oil and gas discoveries made in the region in the last five years as well as great potential for renewable energy investment and expansion, Africa could see massive increases in the energy sector in the coming decades. Here are some of the key elements of the report:

1) The current energy mix in sub-Saharan Africa is dominated by bioenergy, with fuelwood / charcoal accounting for 60%. A long way behind this is coal at 18%, then oil at 15%, natural gas at 4%, and renewables at 2%. Just as in the US, renewables are expanding rapidly, but from a small base.

2) Energy demand in sub-Saharan Africa grew by 45% from 2000 to 2012, but still only accounts for 4% of global demand (while being home to 13% of the global population).

Related: Niger Is key to West Africa’s future security

3) Only 290 out of 915 million people in sub-Saharan Africa have access to electricity. That is 625 million people without electricity. Take a moment to look at these astounding statistics:

Population Without Electricity

4) 950 million people are expected to gain access to electricity by 2040. Nonetheless, more than half a billion people will remain without electricity, mainly in rural areas.

5) Demand for biomass (mostly fuelwood) is expected to increase by 40% by 2040, putting a strain on forestry stocks. 650 million people are still expected to cook with biomass in 2040 – both an inefficient and hazardous form of energy (currently 600,000 premature deaths each year in Africa are due to household air pollution from fuelwood and charcoal).

6) Half of all electricity in sub-Saharan Africa is generated in South Africa. The sub-Saharan generation mix is led by coal at 56% (think: South Africa), 22% hydro, 14% natural gas (think: Nigeria), and 9% oil.

7) Natural gas consumption is expected to quadruple by 2040, with gas-fired generation increasing to 25% of the total, from 17% currently. Gas is expected to account for 50% of the generation mix in West Africa by 2040, driven by reforms in Nigeria (hark, 9th largest proven natural gas reserves in the world).

Electricity generation By Fuel Sub-Saharan Africa

8) Nigeria is the largest oil producer in Africa (about 2.5 mbpd), although it loses more than $5 billion per year due to oil theft (150,000 barrels per day). Angola is the second largest producer (about 1.8 mbpd). South Sudan, Niger, Ghana, Uganda, and Kenya are lesser producers, but are expected to see rising output in the coming decades. Africa as a whole produces just shy of 10 mbpd.

Related: Africa and Belgium Generate the Same Amount of Electricity – But That’s Changing

9) 30% of global oil and gas discoveries made in the last five years have been in sub-Saharan Africa. The biggest issue for African energy development is that $2 out of every $3 invested into the sub-Saharan energy sector since 2000 has gone towards developing exporting capabilities, as opposed to focusing on domestic needs.

Global Discoveries Of Oil And Gas

10) Under the ‘New Policies Scenario’, the IEA sees the sub-Saharan economy quadrupling in size by 2040, the population nearly doubling (to 1.75 billion), and energy demand growing by around 80%. But for this to happen, sub-Saharan Africa will need to focus on vastly expanding access to modern energy, as well as improving the capacity and efficiency of the system. By their own admission, many of these existing energy challenges are only partly overcome.

By Matt Smith

Source – www.energyburrito.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News