Five countries dominate Africa's upstream oil production. Together they account for 85% of the continent's oil production and are, in order of decreasing output:
The lands of West Africa harbor a wealth of natural resources: Ghana alone is estimated to have oil reserves of more than 800 million barrels, with around 110,000 barrels currently being extracted daily.
Other Oil producing countries are:
Exploration is taking place in a number of other countries that aim to increase their output or become first time producers. Included in this list are:
Mozambique and Tanzania are potential oil producers.
Since 2007, foreign direct investment from emerging economies such as India and China has grown at a compound rate of 21% (compared to 8% from developed nations).
The region attracted a record $42 billion in foreign direct investment in 2013.
