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Africa Oil Supply - April 2017

Source: OPEC 5/9/2017, Location: Africa

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In 2016, oil output in Africa is estimated to decline by 30 tb/d, to average 2.10 mb/d. Most African countries saw an oil production decline in 2016, which were partially offset by growth that came from project ramp ups in the Congo such as Benguela-Belize, Nene Marine, Litchendjili and the heavy oil of Moho Marine Nord. There was also some growth in 2016 from the TEN Complex in Ghana and 30 tb/d of heavy oil from the Baobab common project between Chad and Cote d'Ivoire.

Oil production from the Moho Nord deepwater project with a capacity of 100 tboe/d began in Congo in midMarch 2017. The development involves the drilling of 34 wells tied back to a new tension leg platform, the first for international oil company, Total, in offshore Africa, and to the development of Likouf, a new floating production unit. Oil is processed on Likouf then exported by pipeline to the Djeno onshore terminal, also operated by Total. The crude type is a regular crude with API gravity >23į.

In 2017, oil production is estimated to grow in Congo, South Africa, Chad and Ghana. However, the third phase of Nene Marine project (Congo) has been delayed for one year as the project is still in the early concept study phase. Therefore, the expected growth in Congo has been revised down in this month by 30 tb/d. Declines are seen coming from Sudan, South Sudan and Equatorial Guinea. For the region, growth is expected at 50 tb/d, with average annual production at 2.16 mb/d.

Oil News in Congo >>

Azerbaijan >>  5/23/2017 - Azerbaijanís oil supply forecast for 2017 remained unchanged with a contraction of 70 tb/d to average 0.78 mb/d, while oil production in 2016 declined...
Kuwait >>  5/23/2017 - Oil producers agree they need to do whatever is necessary to restore balance to the crude market but any decision on output cuts must satisfy all part...

Russia >>  5/23/2017 - Russia has kept its top spot as oil supplier to China, beating Saudi Arabia for the second month in row, as independent refiners scooped up more volum...
Iran >>  5/21/2017 - Iranís key Indian client, Essar Oil received about eight percent more oil from Iran in the first four months of this year which recorded about 150,700...

United States >>  5/18/2017 - Preliminary data shows that US crude oil imports in April went up to average 8.2 mb/d, which is an increase of 250 tb/d from the previous month and 57...
Egypt >>  5/17/2017 - Russia's largest oil producer Rosneft and Italian energy company Eni have signed an agreement to broaden cooperation, including in possible joint oil ...

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