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The Democrat News > Blog > Uncategorized > OPEC: Africa’s Oil Reserves to Supply Global Market
Uncategorized

OPEC: Africa’s Oil Reserves to Supply Global Market

Esther Udoh
Last updated: February 26, 2025 1:00 pm
Esther Udoh
Published February 26, 2025
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OPEC Secretary-General Haitham Al-Ghais emphasized Africa’s crucial role in the global energy market, stating that its vast oil and gas reserves, estimated at over 120 billion barrels, will sustain international supply as demand grows.

Speaking at the Nigeria International Energy Summit 2025, he urged African leaders to create favorable conditions to attract investment, warning that failure to do so could hinder economic growth.OPEC Secretary-General Haitham Al-Ghais warned against misguided policies and unrealistic global energy targets, arguing they could harm Africa’s energy development. Speaking at the Nigeria International Energy Summit 2025, he criticized arbitrary carbon reduction deadlines, stressing their negative impact on economies reliant on fossil fuels.

Al-Ghais urged African nations to adopt a balanced approach, ensuring energy security, meeting demand, reducing emissions responsibly, and expanding energy access.Al-Ghais’ comments come amid global discussions on energy transition and the shift toward cleaner alternatives to fossil fuels.

While some African leaders advocate for a balanced transition that enables oil and gas development alongside economic growth, others argue that Africa should focus on maximizing its fossil fuel resources rather than hastily cutting emissions.

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