Oil & Gas Databook for Developing Countries: With the Special Reference to the ACP Countries - Tapa dura

Reseña del editor

In order to alleviate their problems many less developed countries (LDCs) are endeavoring to develop to the full their energy resources and in particular their hydrocarbon resources. However, the development of these resources is hindered by many factors, among which are the following: badly established estimates of indigenous resources; under-exploration; lack of competent Government institutions to monitor the hydrocarbon sector; lack of local markets to exploit non-oil hydrocarbon finds; refineries which are outdated, producing the wrong product mix and where economies of scale make upgrading difficult.

The purpose of this work is to examine the hydrocarbon sector in the African, Caribbean and Pacific (ACP) group of countries. An examination of such a diverse group of nations on a global scale is difficult since the group includes relatively rich countries such as Trinidad and Tobago with a GNP per capita of $4000, to the sub-Saharan countries such as Mali with a GNP per capita of $120. No easy solutions will be presented to improve the present energy situation in these countries but the reasons for the lack of hydrocarbon development will be examined. The work of the World Bank and similar international financial institutions will be assessed and a potted review of the hydrocarbon sector in each country will be presented.

Reseña del editor

The oil crises of 1973 and 1979 have had a profound effect on the economies of the less developed countries (LDCs). The African, Carib­ bean and Pacific (ACP) countries associated with the European Com­ munity as joint signatories of the Lome conventions have suffered in equal measure with other LDCs. Energy, because of its contribution to national development, is of primary importance to the ACP countries and since oil forms the basis of the energy sector in these countries any increase in price leads to considerable economic knock-on effects. The majority, over 90%, of the ACP countries are energy importers, that means oil importers. Their economies are based in the main on agriculture which normally contributes most to total GDP. Exports from these countries are mainly primary commodities such as coffee, cotton, tea, cereals, tobacco, copper, zinc, lead, cobalt etc. In most of the ACP nations, exports of commodities comprise over four-fifths of total merchandise exports. Imports, meanwhile, consist mainly of capital goods (including transport equipment), manufactures, petroleum and food­ stuffs. As a result of the international recession, falling commodity prices and the increase in crude oil prices, the balance of payments position of these countries has deteriorated sharply over the past few years. The resulting shortage of foreign exchange prevents many nations from importing sufficient raw materials and capital equipment for their industries. Consequently, plant utilisation rates are running at very low levels.