Africa is endowed with significant oil resources that could help achieve the African Development Bank's "High 5" priority areas intended to support African countries' achievement of the Sustainable Development Goals - power and light-up, feeding, industrialize, integrate and improve the quality of life for the people of Africa.
However, the oil industry is structurally complex and involves an intricate number of actors whose goals and interest are often diverging. This presents a significant challenge for policy making, as they need to weigh a wide range of factors, as they look to maximise value from their resources.
The study provides:
- An overview of the markets and value chains for oil from reservoirs to consumers, and associated supplier industries
- A way to assess the contributions that various parts of the oil value chain can make to African economies
- A way to assess the potential for African economies to develop the oil sector, including potential barriers to entry and value creation
- Important sector policy issues and choices for African states, with their implications