The top 10 African countries with smallest oil reserves in 2024

Africa is known for its substantial oil reserves, but some countries on the continent have limited quantities of this resource.

Several African countries have minimal oil reserves, leading to a reliance on oil imports to meet their energy needs.

This dependence can expose these countries to fluctuations in global oil prices, which may impact their economies and financial stability.

Read also: Africa’s oil giants: The top 10 countries by reserves in 2024

According to the Global Firepower report, here are the top 10 African countries with the smallest oil reserves

1. Ethiopia

Ethiopia ranks as the African country with the smallest oil reserves in 2024. With an oil reserve of 400,000 barrels, it holds the 95th position globally. Ethiopia’s oil sector remains underdeveloped, contributing to its minimal reserve figures.

2. Morocco

Next is Morocco, with oil reserves totalling 700,000 barrels. This places Morocco 94th in the global ranking. Despite efforts to explore and develop its energy sector, Morocco’s oil reserves remain limited.

Read also: Top 10 countries with the largest proven oil reserves

3. Republic of Benin

Benin comes in third among African countries with the smallest oil reserves. Its reserves stand at 8,000,000 barrels, giving it a global rank of 90. The country’s oil sector is relatively small, reflecting its reserve size.

4. South Africa

South Africa holds 15,000,000 barrels of oil reserves, placing it 83rd globally. South Africa’s energy sector is diverse, with oil being one of several resources, though its reserves are not as substantial compared to other African nations.

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5. Mauritania

Mauritania has oil reserves of 20,000,000 barrels, ranking 80th in the world. The country’s oil sector has seen gradual development, but its reserves are modest compared to larger oil-producing nations.

6. Côte d’Ivoire

Côte d’Ivoire holds a more significant amount of oil reserves than the previous countries, with 100,000,000 barrels. This figure places the country 67th globally. Côte d’Ivoire’s oil industry has grown in recent years, but it still has smaller reserves compared to leading African producers.

Read also: Top 10 African countries with largest crude oil import

7. Niger

Niger’s oil reserves are estimated at 150,000,000 barrels, ranking it 59th worldwide. Niger has focused on expanding its oil production capabilities, but its reserves remain on the lower end in Africa.

8. Democratic Republic of the Congo

The Democratic Republic of the Congo has oil reserves totalling 180,000,000 barrels, placing it 56th globally. While the country is rich in various natural resources, its oil reserves are relatively modest.

Read also: World’s top oil producers by barrels per day

9. Cameroon

Cameroon ranks 54th globally with oil reserves of 200,000,000 barrels. Cameroon has a well-established oil sector, but its reserves are not as vast as those of Africa’s leading oil-producing nations.

10. Tunisia

Tunisia holds the largest oil reserves among the top 10 countries with the smallest reserves in Africa. With 425,000,000 barrels, Tunisia ranks 48th globally. Despite having larger reserves than other nations on this list, Tunisia’s position still reflects a modest reserve size compared to the continent’s giants.