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Africa Oil Supply - July 2013

Source: OPEC 8/13/2013, Location: Africa

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Africa’s oil production in 2014 is forecast to average 2.49 mb/d, an increase of 90 tb/d over 2013. Oil supplies from Chad, Congo, Egypt and South Africa are expected to remain steady in 2014, with minor declines of up to 20 tb/d. This comes on the back of limited new developments and declines in mature producing areas. Oil supplies from Ghana, Gabon, and Equatorial Guinea are forecast to increase slightly in 2014, supported by such developments as the Jubilee and Anguille, and Alen projects.

Output from South Sudan and Sudan is expected to increase by 0 tb/d in 2014 to average 0.28 mb/d, on the assumption that the delicate agreement reached recently on oil transit will continue with possible interruptions. Political risk factors could bring a significant change to the supply forecast, especially from South Sudan and Sudan. On a quarterly basis, total oil supply in Africa in 2014 is estimated to average 2.48 mb/d, 2.49 mb/d, 2.49 mb/d and 2.50 mb/d, respectively.

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