Africa's Crude Oil Resources and Refining Capacity vs. Projected Demand by 2063
Africa possesses substantial crude oil resources, with proven reserves exceeding 130 billion barrels (7.2% of global total), providing a reserves-to-production (R/P) ratio of ~50 years at current levels. However, achieving self-sufficiency in refined petroleum products by 2063—meaning producing and refining enough domestically to meet demand without heavy imports—depends on the scenario. Current production (~4.5 million barrels per day, mb/d) and refining capacity (~3.35 mb/d nameplate, ~55% utilization or ~1.8 mb/d effective) fall short, with Africa exporting ~75% of its crude while importing ~56% of refined products.
