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Title : Is Africa The Next Major Producer Of Oil?
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Is Africa The Next Major Producer Of Oil?

Irina Slav. OilPrice.com: This Oil Boom Is Going Under The Radar

If anyone needed any further proof that Africa is shaping up as the next major hot spot in oil and gas, this year’s edition of Africa Oil Week will provide it. The event launched amid higher oil prices and booming exploration activity across the continent with supermajors and independents both upbeat about their prospects there.

If we ignore the waywardness of oil prices, which served as the basis for Africa’s oil and gas recovery, and which can once again plunge local oil producers into recession should they drop, prospects are bright.

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WNU Editor: Africa is a massive continent .... and mainly unexplored for oil. I for one would not be surprised if major deposits of oil are found.

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