Oil and African Development

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Abstract
The growth of exploration for oil in Africa has been phenomenal. Until the late 1950s the continent was considered to be devoid of any large hydrocarbon deposits; indeed, in 1957 the total production of oil amounted to only 2·7 million metric tons, or 0·3 per cent of the entire world output. Since then, however, the rate of growth has been very rapid, and by 1976 had reached 279·5 million metric tons, accounting for 9·8 per cent of world production.

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