When you think about Africa, the immediate thing that hits you is the massive stash of natural resources it boasts – from oil and cobalt to diamonds, platinum, and uranium.
When it comes to crude oil, for instance, trade goes back and forth. Even if certain African nations have their oil reserves, many still choose to import to bridge the gap between what they produce at home and what they need.
Not every African country also has the gear or setup to refine their crude oil at home. So, what happens is they export the raw crude and, in a twist of irony, bring in refined oil products to power up their own energy needs.
The costs and complexities associated with oil exploration, extraction, and refining often make it more feasible for these countries to import oil from global market players like America.
Below are 10 African countries that import the most oil from the U.S. according to Wisevoter:
Rank | Country | US crude oil import | Global rank |
---|---|---|---|
1 | Nigeria | 125 Mbbl/d | 11th |
2 | Libya | 91 Mbbl/d | 14th |
3 | Ghana | 51 Mbbl/d | 17th |
4 | Algeria | 40 Mbbl/d | 19th |
5 | Angola | 36 Mbbl/d | 25th |
6 | Egypt | 32 Mbbl/d | 28th |
7 | Cameroon | 4 Mbbl/d | 45th |
8 | Equatorial Guinea | 2 Mbbl/d | 52nd |
9 | Liberia | 1 Mbbl/d | 60th |
10 | Republic of the Congo | 1 Mbbl/d | 62th |
Business Insider