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2025: Top 10 African Countries With The Largest Oil Reserves

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2 months ago

May 3, 2025

Editor

Oil is one of the main drivers of economic growth in Africa. It fosters international relationships, attracts foreign investors, and is also a major source of revenue. Political instability, oil theft, and insecurity are some of the challenges hindering substantial growth in oil production in some of the African countries discussed in this article, although they still have the largest oil reserves.

Contents

1. Libya

2. Nigeria

3. Algeria

4. Angola

5. South Sudan

6. Egypt

7. Republic of Congo

8. Uganda

9. Gabon

10. Chad

Here are the African countries with the largest oil reserves according to Prime Business Africa:

1. Libya
Libya tops the list as the African country with the largest oil reserves. Despite the political unrest in the country, Libya has still been able to maintain its wealth from oil reserves, which are proven to be 48.36 billion barrels. The country is the continent’s oil leader.

2. Nigeria
Nigeria has the second-largest oil reserves in Africa, with 37.89 billion barrels. However, many challenges, such as outdated infrastructure, oil theft, and insecurity, have continued to erode the country’s progress in oil production. Policies have been enacted to revive Nigeria’s oil industry.

3. Algeria
Algeria has developed solid infrastructure for its natural gas extraction and oil reserves. This has contributed immensely to the economy of the country by being one of the top energy exporters in Africa. Algeria’s oil reserves now 12.20 billion barrels.

4. Angola
Oil is a major support for Angola’s economy, helping with diversification. Despite a decline in production, investment and new offshore discoveries have boosted the oil sector. As one of the largest oil producers, Angola has 7.78 billion barrels of oil reserves.

5. South Sudan
South Sudan capitalises on its oil reserves because of the significant role it plays in the economy. It makes up over an average of the government’s revenues. The country is now experiencing more increase in output because of production deals. South Sudan’s oil reserves is 3.75 billion barrels.

6. Egypt
Egypt is one of the countries in Africa with a diverse energy sector. The country has been able to advance its refining system and export rate. Investment in the energy sector boosts oil production. Currently, Egypt’s oil reserves is 3.3 billion barrels.

7. Republic of Congo
The Republic of Congo is one of the main oil exporters in Africa, with 2.88 billion barrels. More than half of the country’s revenue comes from oil. Political instability has been causing setbacks, but foreign investment has helped in reducing the effects.

8. Uganda
Uganda now transports oil to the international market since the completion of the East African Crude Oil Pipeline (EACOP). The government secures deals with investors to ensure more productivity. Uganda boasts of 2.5 billion barrels of oil reserves.

9. Gabon
Gabon is not relenting in attracting foreign investors into the country. They have succeeded in expanding their refinery to produce more refined petroleum. Over the years, Gabon’s economy has been strengthened by oil exploration. The country has 2.0 billion oil reserves.

10. Chad
Chad is the tenth among the African countries with the largest oil reserves. Constant investment in the energy sector by foreign investors has helped Chad sustain its oil production, which is now 1.5 billion barrels.

Related Topics:Africa African Countries Top

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Thousands Protest In Tehran Against Israel

Published

37 minutes ago

June 20, 2025

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Thousands of people joined a protest against Israel in the Iranian capital on Friday after weekly prayers, chanting slogans in support of their leaders, images on state television showed.

“This is the Friday of the Iranian nation’s solidarity and resistance across the country,” the news anchor said.

Footage showed protesters in Tehran holding up photographs of commanders killed since the start of the war with Israel, while others waved the flags of Iran and the Lebanese militant group Hezbollah.

“I will sacrifice my life for my leader,” read a protester’s banner, a reference to supreme leader Ayatollah Ali Khamenei.

According to state television, protests took place in other cities around the country, including in Tabriz in northwestern Iran and Shiraz in the south.

AFP

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Over 650 Die In Iran After First Week Of Israeli Strikes

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40 minutes ago

June 20, 2025

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More than 650 people have been killed in Iran following a massive Israeli bombing campaign launched a week ago, an activist group said on Friday.

The U.S.-based Human Rights Activists News Agency (HRANA) reported that 657 people have died and 2,037 have been injured in the nationwide airstrikes.

The Iranian government does not publish daily figures on casualties.

HRANA relies on a broad network of informants and publicly available sources.

The group said the dead include at least 263 civilians and 164 members of the military.

Another 230 fatalities remain unidentified.

The network also reported damage to civilian infrastructure, including a projectile striking a children’s hospital in Tehran, which did not result in any injuries.

In the western province of Ilam, a fire station was damaged, HRANA said, while an Israeli attack on a car factory in western Iran triggered a large fire.

Israel maintains its objective is to prevent Iran from acquiring nuclear weapons, which it considers an existential threat.

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UK Joins Other Nations In Pulling Embassy Staff From Iran

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50 minutes ago

June 20, 2025

Editor

Britain on Friday withdrew its embassy staff from Iran, following in the footsteps of other European nations as well as Australia and New Zealand amid the conflict with Israel.

“Due to the current security situation, we have taken the precautionary measure to temporarily withdraw our UK staff from Iran,” the foreign ministry said in a statement.

“Our embassy continues to operate remotely,” it added.

On the eighth day of the war between Iran and Israel, the British ministry said it continued to call for de-escalation between the two sides.

But the statement added: “We take the protection of our staff and British nationals extremely seriously and we have long advised against all travel to Iran.”

Earlier Friday, Australia also shuttered its Tehran embassy and ordered officials to leave the country, Sydney said, citing a “deteriorating security situation”.

Both countries join a string of nations closing diplomatic missions in Iran since Israel launched air strikes a week ago, claiming its arch enemy was on the verge of developing a nuclear weapon.

Australia has directed all its officials and their dependents to leave Iran, and suspended its Tehran embassy operations, Foreign Minister Penny Wong told a news conference in Adelaide.

“This is not a decision taken lightly. It is a decision based on the deteriorating security environment in Iran,” she said.

Wong said there were about 2,000 Australians and family members registered in Iran who wanted to depart, and another 1,200 in Israel.

Other nations that have suspended Tehran embassy operations include Bulgaria, Czech Republic, New Zealand, Portugal, and Switzerland.

Switzerland said it was temporarily closing its diplomatic mission in the Iranian capital, but would continue to fulfil is role in representing US interests in Iran.

“In view of the intensity of military operations in Iran and the highly unstable situation on the ground, the FDFA has decided to temporarily close the Swiss embassy in Tehran,” the Federal Department of Foreign Affairs said.

European powers meanwhile met with Iranian officials in Geneva on Friday, and hoped to offer “a diplomatic solution”, according to French President Emmanuel Macron.

Britain’s Foreign Secretary David Lammy said “a window now exists within the next two weeks to achieve a diplomatic solution”, while agreeing with US Secretary of State Marco Rubio that “Iran can never develop or acquire a nuclear weapon”.

AFP