Oil and Poverty [contenu en Anglais]

Therefore, it accounts for 2/3 of the world reserves (25 per cent of the world oil reserves are located in Saudi Arabia) and produces 30 per cent of the world production. The major consuming countries (the United Sates, Europe and China) depend on this region. But nowadays, these countries consider the African continent as a way of diversification.

Africa possesses "about 9.4 per cent of proven world [petroleum] reserves" , and it represents about 10 per cent of world oil production. Since the 9/11 attacks, Africa is a source of diversification: the attractive legislations of the African states combined with the fact that markets are much more open to foreign investors lead to a competition for the oil companies' presence on the continent. Total, Elf and Agip are traditional oil companies settled in Africa; Exxon-Mobil and Texaco, among others, are new comers.

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