Petroleum Africa
Find us on: 
Friday, March 18, 2016
African fuel demand continues to grow in a low commodities price environment and despite infrastructure challenges, says CITAC Africa
Marrakech, Morocco, 17 March 2016
In 2015, amidst falling oil prices and despite continuing infrastructure constraints, African oil demand increased by over 7mn mt (150,000 b/d) to 178mn mt (3.9mn b/d). Growth was driven by oil importing countries benefiting from lower import and subsidy bills.
Every March, at the annual CITAC Downstream African Workshops, this year being held in Marrakech, Morocco, CITAC Africa is the first to announce last year’s industry data and forecasts for petroleum products supply and demand across Africa. And for the last few years, the numbers have been joyously confirming the “Africa is Rising” story. This year, as Elitsa Georgieva, CITAC’s Consulting Director, explains “we were expecting the economic benefits from lower oil prices would outweigh the effects of economic slowdown in oil exporting countries, foreign exchange issues and conflict.”
“And our expectations were surpassed” says Georgieva, “as African oil products demand growth speeded up, driven by higher consumption in North Africa.”
CITAC reports that African oil products demand grew by 4.2% y/y in 2015 – comprising 5.4% in North Africa and 3.2% in Sub-Saharan Africa, and CITAC Africa is now forecasting African oil products demand to grow, on average, by at least 3.5% per annum over the next three years. With focus shifting away from the immediate effects of low oil prices and onto more macro-level economic growth, issues related to infrastructure development, supply and access to energy (and electricity in particular), and good governance become paramount to fulfilling Africa’s growth potential. Clean products shortfall (the difference between refinery output and demand) is expected to rise to over 150mn mt/yr by 2030, up from 79mn mt in 2015, resulting in ever increasing requirements for fuel imports.
Detailed analysis of individual countries’ 2015 supply/demand balances, as well as short- and long-term forecasts for demand are available through client access to CITAC’s African Downstream Database (ADD+). This industry-leading tool provides unrivalled insight into the latest trends in the African downstream oil sector.
For further details, please contact Elitsa Georgieva ([email protected]) telephone: +44 20 7343 0014. www.citac.com
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
