where are the majority of sub-saharan africa's oil reserves located
Sub-Saharan Africa By 2015, it is estimated that 25% of North American oil will be from Sub-Saharan Africa, ahead of the Middle East. Sub-Saharan Africa has been the focus of an intense race for oil by the West, China, India, and other emerging economies, even though it holds only 10% of proven oil reserves, less than the Middle East. This race has been referred to as the second Scramble for Africa. All reasons for this global scramble come from the reserves' economic benefits. Transportation cost is low and no pipelines have to be laid as in Central Asia. Almost all reserves are offshore, so political turmoil within the host country will not directly interfere with operations. Sub-Saharan oil is viscous, with a very low sulfur content. This quickens the refining process and effectively reduces costs. New sources of oil are being located in Sub-Saharan Africa more frequently than anywhere else. Of all new sources of oil, â…“ are in Sub-Saharan Africa.[138]
Africa Africa is the world's second largest and second most-populous continent (behind Asia in both categories). At about 30.3 million km2 (11.7 million squareÂ miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area.[3] With 1.2 billion people[1] as of 2016, it accounts for about 16% of the world's human population. The continent is surrounded by the Mediterranean Sea to the north, the Isthmus of Suez and the Red Sea to the northeast, the Indian Ocean to the southeast and the Atlantic Ocean to the west. The continent includes Madagascar and various archipelagos. It contains 54 fully recognised sovereign states (countries), nine territories and two de facto independent states with limited or no recognition.[4] The majority of the continent and its countries are in the Northern Hemisphere, with a substantial portion and number of countries in the Southern Hemisphere.