Wave of Oil Production and Refining Projects Buoys Africa's Domestic and Export Potential

JOHANNESBURG, SOUTH AFRICA--September 22, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--New oil discoveries off Africa's West Coast and a series of announcements on new refinery projects in West and East Africa could mean that the local economies and populations may begin to benefit from the rich, hydrocarbon-based resource developments, which have so far benefitted only a self-aggrandizing elite. The new discoveries and processing facilities in the pipeline also could mean that Africa becomes the world's second-largest oil exporter. New refineries, oil and energy production projects have for too long been bonded to foreign bank accounts and family ties. Confirmations of commitment to project build schedules must be referenced to national election results and the undelivered promises of the past.

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