The arrival of this decade has bought with it the promise of a whole lot of economic growth, at least as far as the African continent is concerned.
A fairly significant factor in this huge growth spurt has been a near constant increase in the overall exploitation of this vast continent’s myriad of natural resources, a key one of which is oil.
While it is certainly true that Africa cannot really compare its oil reserves as well as refining and production capacity with those found in the Middle East, for instance, but that certainly does not mean that the production from its many oil fields still does not command significant attention.
As a matter of fact, local oil production has shown a steady increase ever since the early 1980s. In 1981 the entire continent collectively produced around 5 million BOE/D. But within three decades, that figure had hitherto doubled to roughly 10 million.
Furthermore, Africa’s proved oil reserves are also steadily on the rise, as well. This is considered to be a reliable indicator when it comes to predicting sustained growth.
That been said, South Africa itself, is fast turning into a major hub for many oil companies that are currently making some of the biggest profits in the entire continent of Africa, as of today.
- PetroSA
The Petroleum, Oil and Gas Corporation of South Africa SOC Ltd. is basically the national oil company (NOC) of South Africa
Its main commercial activities are centred on the extraction of natural gas from various offshore fields. Apart from that, it is also involved in the real world production of different types of synthetic fuels by utilising the gas to liquids (GTL) process. Additionally, it is also involved in the extraction of crude oil from multiple oil fields that are located off the Southern Coast of South Africa.
The company is directly involved in both the exploration as well as the production of various petro chemical products.
- Sasol Ltd
Sasol Limited is a fully integrated energy, as well as chemical company, based in Sandton, South Africa. Its vast portfolio of products includes different technologies, synthetic and liquid (petro based) fuels and electricity.
- Spectra oils (SPO) Limited
Originally founded in Zambia almost a quarter century ago, Spectra Oil (SPO) has grown from strength to strength and has gone on to become not just one of the leading Oil Marketing Companies (OMCs) in the Democratic Republic of Congo (DRC) and Zambia, but also South Africa as well. They have been in the liquid fuel business since 2003 and have also enjoyed phenomenal growth. They are now one of the leading fuel suppliers throughout the region.
They have been part of the South African market since 2009. And have also enjoyed tremendous progress there. Due to the high quality of products, as well as the commitment of their highly skilled employee base, Spectra is one company that is building quite a name for itself.
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