Sub-Sahara Africa Crude  Exports To Grow In Coming Years

The International Energy Agency (IEA) in its latest World Energy Outlook said that energy exports from sub-Saharan Africa are on the rise. Exports have seen an increase as governments look to feed their foreign currency earnings rather than meet domestic fuel needs. According to IEA figures, out of the 7.4 million barrels per day expected to be produced by sub-Saharan producers by 2030, 6.4 million barrel per day of that will be exported.  
The region's gas exports were also expected to grow strongly, rising to 130 billion cubic metre in 2030 from 21.6 billion cubic metre  in 2006.
“Despite rising local demand for oil, driven in large part by the economic boost provided by oil-related earnings, exports are projected to rise in the period up to 2030,” the IEA said.
The world energy watchdog said that Angola, Sudan, and Nigeria will account for the majority of the growth.
Based on the  projections from the EIA November 2008 Short Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $979 billion of net oil export revenues in 2008, and $595 billion in 2009. Through October, OPEC has earned an estimated $884 billion in net oil export earnings in 2008.
 Last year, OPEC earned $671 billion in net oil export revenues, a 10 percent
increase from 2006. Saudi Arabia earned the largest share of these earnings, $194 billion, representing 29 percent of total OPEC revenues.On a per-capita basis, OPEC net oil export earning reached $1,137, an eight percent increase from 2006.