Côte d’Ivoire’s state-owned oil refinery, the biggest in French-speaking West Africa with a refining capacity of 3.8m tonnes, could help generate revenues through exports to neighbouring countries. A conservative estimation puts production from the new block at 150, 000 bpd, says Robin Mills, CEO of Dubai-based consultancy Qamar Energy.
Does Ivory Coast have oil?
Ivory Coast has struck oil just as much of the developed world has begun to call time on fossil fuels and some financial institutions are reluctant to take carbon-emitting projects on to their balance sheets.
Why did Eni invest in Ivory Coast gas?
Alessandro Puliti, Eni’s chief operating officer for natural resources, said the Ivorian discovery met the Italian company’s criteria for investment. This was partly because the associated gas could be fed into existing infrastructure that already supplied Ivory Coast with 60 per cent of its electricity, he said.
How much oil does Côte d’Ivoire produce?
Côte d’Ivoire currently produces around 50,000 bpd compared to Nigeria, Africa’s largest oil producer, which produces around 2.5m. The government has been on an investment drive in recent years in an attempt to diversify the economy away from an overreliance on cocoa and gold, by developing its mining and energy sectors.
Does Ivory Coast have electricity?
In Ivory Coast, a relatively high three-quarters of people have electricity and it has one of west Africa’s most reliable power grids. It exports electricity to Ghana, Mali, Benin, Togo and Burkina Faso.