North Africa Quick facts

North Africa is the key region in Africa’s overall oil and gas sector and it has played a major role in the development of the global oil industry as it stands today. North Africa possesses substantial oil and gas reserves, viewed as strategically vital because of their proximity to the European market. North Africa continues to be a leader in oil and gas production and exports. The local crudes and condensates also are desirable to refiners because they tend to be lighter and lower in sulfur than their Middle Eastern counterparts.