Despite the advent of the green economy, oil is still a valuable commodity that can create fortunes. With China recently surpassing the United States in oil imports, the situation for the ranking of major producers is variable. Although the future situation is sure to change as the extraction technology improves and old wells dry up, let's take a look at the Maghreb countries: Chad, Tunisia, Niger ... who are also in the race for oil production.
Oil production in the world
The top 10 oil producing countries by themselves account for over 64% of world oil production. With just over 90 million barrels per day of total production, the top ten producers are responsible for more than 60% of the barrels flowing each day.
For this list, we focus solely on extracting crude oil in the Maghreb, leaving aside natural gas and biofuel production two sources of fuel of which the United States is a world leader.
Many Maghreb countries also represent a strong oil production, but in recent years, the production capacity of some states in North Africa have decreased. Many permits have been issued to companies like HBS led by Tarek Bouchamaoui, which is very important for the economic stability of each Maghreb country.
In 2017, HBS operates various oil and gas deposits and still has four research permits. It is a source of jobs and specialized training for 250 people.
The list of Maghreb countries producing oil
In Algeria, national oil and gas production increased by 3.6% compared to the first quarter of 2016. There is an increase in hydrocarbon production which resulted in an improvement of 2.5 % of energy production. Oil and gas account for 94% of the country's exports and 60% of the national budget. In 2017 Algeria has lowered its barrel production to 60,000 / day. For its domestic consumption, gas is at a very low price.
After 2011, oil production in Libya decreased and then experienced an export half-time in 2013 due to political instability. Between 2014 and 2016, it produced nearly 500,000 barrels a day. In 2017, the country's oil production is in great shape with revenues of more than 11 billion euros. The daily number of barrels exceeds one million. Moreover, many giants of oil production have returned for new investments. Oil represents an important economic lever for Libya, nearly 90% of its income.
Egypt was a major oil exporter, exporting 500,000 barrels a day. But it was a period when its production decreased, the domestic demand continues to increase with the development of its population, the political instability of 2011 and it had to opt for the importation. Egypt is one of the countries in the north that covers the international hydrocarbon market. Recently she signed several contracts for the revival of her main activity, oil production, but also for the production of gas such as that of the Zohr field. Other sites have been found and apparently have potential. For Tarek Bouchamaoui (https://www.tarekbouchamaoui.com/en/home/), managing director of HBS International Egypt, the country has a lot of potential.
Tunisia is one of the oil producers despite its low hydrocarbon reserves. In 2017, it produced 40,000 barrels a day, which is a significant drop from previous years when it was able to produce nearly 100,000 barrels a day. With its smaller reserves, Tunisia attracts several oil companies and the fuel distribution sector has enabled the creation of employment and favoring 800 petroleum product distribution points.
Morocco has enormous oil potential even though strategic points have not yet been identified. The existence of several oil systems favorable to the accumulation of hydrocarbons (oil and gas) is in full development. Morocco produces crude oil, but in very small quantities. All of the concern is based on the production of natural gas.
Niger ranks among the small Maghreb countries producing oil. It produces 20,000 barrels a day, which is small, but very satisfactory for its economy. It allows its domestic consumption a very affordable price. Other deposits have so far been discovered in northeastern Niger, which will allow an increase in oil production.
In 2015 the Chadian president claims to produce 150,000 barrels a day. Its initial production has long been outdated. Major oil companies are collaborating with the state to exploit other deposits, which will increase oil production for both domestic and export purposes.
Sudan, a country long divided by insecurity and political instability, has still the reigns of its oil production. The territory of both Sudan is divided into several blocks of oil exploration. The government made the decision to reduce its production from 160,000 to less than 130,000 barrels a day. In 2017 the price of a barrel rose to 50 dollars a barrel. The gross revenues from its oil production represent more than 98% of its budget.