With local refineries unable to meet domestic demand, Nigeria – Africa’s largest exporter of crude oil – currently imports more than 70% of its petroleum needs. However, this could change if plans to build three new refineries are realised.
Displaying 2581 - 2586 of 2619
Economic update | Nigeria: An air of refinement
29 Sep 2011
New offshore natural gas deposits are set to vastly expand the Philippines’ hydrocarbons reserves at a time when demand at home is on the increase. The country has proven natural gas reserves of 108.7bn cu metres, ranking it 51st in the world, with annual production of around 3bn cu metres. While this is sufficient to meet current demand, with the economy expanding and demand for electricity on the rise, calls on domestic gas reserves are expected to increase in the coming years.
State-controlled natural gas distributor Perusahaan Gas Negara (PGN) has objected to calls for a potential price increase from its upstream suppliers. At the same time, the distributor, facing rising domestic demand and an irregular supply, is considering new sources of natural gas, including the purchase of blocks in North Sumatra.
Articles & Analysis | Facing the future: Old traditions merge with modern life in this resource-rich land from The Report: South Africa 2012
Although southern Africa has been consistently inhabited for tens of thousands of years, South Africa’s modern history traces back most directly to the aboriginal Khoisan. The majority of modern South Africa’s black population is descended from a mix of ethnic groups, including the Bantu, who migrated from elsewhere in Africa over the past 2500...
Economic update | Kuwait: Partnership potential
2 Aug 2011
With the recent addition of a new 1400-MW power plant, Kuwait appears ready to meet the increase in electricity demand that occurs every summer. Government authorities are also planning to bring additional capacity on-line over the next few years, with the private sector expected to play a major role in this expansion.
Articles & Analysis | Time to shine: Strong political and economic foundations for growth from The Report: South Africa 2012
One of West Africa’s most politically stable countries, with equally strong macroeconomic fundamentals, Ghana has a relatively high per capita GDP due in part to its sizeable gold and cocoa production, which will increase in the coming years as the country begins to pump its modest oil reserves. The economy quadrupled in size during the 2000s and a...