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Report Africa - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

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

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Africa: Crude Oil Market 2025

Crude Oil Market Size in Africa

The African crude oil market declined to $X in 2022, which is down by -5.9% against the previous year. In general, consumption recorded a perceptible descent. The level of consumption peaked 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 reduced to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 15%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports in Africa

Crude oil exports contracted remarkably to X tons in 2022, waning by -16.8% compared with 2021 figures. In general, exports continue to indicate a noticeable slump. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, crude oil exports contracted to $X in 2022. Over the period under review, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by 39%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) and Libya (X tons) represented the main exporters of crude petroleum oil in 2022, accounting for approx. 36% and 31% of total exports, respectively. It was distantly followed by Algeria (X tons), creating a 9% share of total exports. Gabon (X tons), Angola (X tons), Congo (X tons), Ghana (X tons), Cameroon (X tons), Egypt (X tons) and Chad (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Libya (with a CAGR of +9.0%), while the other leaders experienced more modest paces of growth.

In value terms, Libya ($X), Nigeria ($X) and Angola ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 72% of total exports.

Libya, with a CAGR of +4.0%, 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, increasing by 4.8% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 56% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+6.3%), while the other leaders experienced a decline in the export price figures.

Crude Oil Imports

Imports in Africa

In 2022, the amount of crude petroleum oil imported in Africa contracted notably to X tons, waning by -35.4% against the previous year. Over the period under review, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 20%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, crude oil imports reduced to $X in 2022. In general, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 41%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa (X tons) and Egypt (X tons) represented roughly 65% of total imports in 2022. Cote d'Ivoire (X tons) ranks next in terms of the total imports with an 11% share, followed by Kenya (7.7%), Tunisia (6.4%) and Senegal (5.1%). Zambia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Egypt (with a CAGR of +5.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude oil importing markets in Africa were Egypt ($X), South Africa ($X) and Cote d'Ivoire ($X), with a combined 82% share of total imports. Tunisia, Kenya, Senegal and Zambia lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, Tunisia, with a CAGR of +5.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, rising by 39% against the previous year. In general, the import price, however, recorded a pronounced slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+3.8%), 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 in 2021 were Algeria, Egypt and Congo, with a combined 60% share of total consumption.
The countries with the highest volumes of in 2021 were Nigeria, Angola and Libya, together comprising 56% of total production. Algeria, Egypt, Congo and Gabon lagged somewhat behind, together accounting for a further 33%.
In value terms, the largest crude oil supplying countries in Africa were Nigeria, Angola and Libya, with a combined 73% share of total exports.
In value terms, the largest crude oil importing markets in Africa were Egypt, Morocco and South Africa, with a combined 75% share of total imports.
In 2021, the export price in Africa amounted to $433 per ton, picking up by 13% against the previous year.
In 2021, the import price in Africa amounted to $487 per ton, dropping by -13.1% 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 2012–2024
      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 2012–2024
      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 2024
      2. Market Volume, In Physical Terms, 2012–2024
      3. Market Value, 2012–2024
      4. Per Capita Consumption, By Country, 2018–2024
      5. Production, In Physical Terms, By Country, 2012–2024
      6. Imports, In Physical Terms, By Country, 2012–2024
      7. Imports, In Value Terms, By Country, 2012–2024
      8. Import Prices, By Country Of Destination, 2012–2024
      9. Exports, In Physical Terms, By Country, 2012–2024
      10. Exports, In Value Terms, By Country, 2012–2024
      11. Export Prices, By Country Of Origin, 2012–2024

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2024
      2. Market Value, 2012–2024
      3. Consumption, By Country, 2024
      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, 2012–2024
      18. Production, In Value Terms, 2012–2024
      19. Production, By Country, 2024
      20. Production, In Physical Terms, By Country, 2012–2024
      21. Imports, In Physical Terms, 2012–2024
      22. Imports, In Value Terms, 2012–2024
      23. Imports, In Physical Terms, By Country, 2024
      24. Imports, In Physical Terms, By Country, 2012–2024
      25. Imports, In Value Terms, By Country, 2012–2024
      26. Import Prices, By Country, 2012–2024
      27. Exports, In Physical Terms, 2012–2024
      28. Exports, In Value Terms, 2012–2024
      29. Exports, In Physical Terms, By Country, 2024
      30. Exports, In Physical Terms, By Country, 2012–2024
      31. Exports, In Value Terms, By Country, 2012–2024
      32. Export Prices, 2012–2024

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