Nigeria will be overtaken as Africa’s largest crude
oil producer by Angola from around 2016 to the
early 2020s, as crude theft and regulatory
uncertainties persist in the Nigerian oil industry,
the International Energy Agency says in a new
report published on Monday.
The report entitled: ‘Africa Energy Outlook’, a
special package in the 2014 World Energy Outlook
series, stated that during the period, Angola was
also likely to be Africa’s largest crude oil
exporter.
It noted that Angola had a taste of the position in
May 2014 when monthly exports from Nigeria
dipped below hers due largely to theft and
sabotage-related outages
“Signs of this role reversal between Nigeria and
Angola have been present for a while. Upstream
investments have been flowing more readily to
Angola in recent years,” the IEA said, adding that
a telling comparison was the extent of the
“pipeline” of major offshore projects in the two
countries.
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