Go West, oil hunters, but go mob-handed

West Africa may not be particularly stable, but what makes it so appealing to foreign interests is that most of the oil can be found offshore and on a direct shipping route to Europe or North America.

Some industry estimates predict West African oil and gas will supply 25 per cent of the US energy market needs by 2015.

The World Economic Forum was told last year that Africa’s known oil reserves stands at about 110 billion barrels, or about 9 per cent of total world known reserves.

TheAustralian