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| Promised Land Development |
Community Investment Projects:
The alliance agreements that we have negotiated with energy companies that are participating in the oil and gas exploration segment of Kingdom Mining & Exploration Company have resulted in the assingment of community investment dollars.
This will afford us the opportunity to participate in the promise of development in the land of Africa. These community investment dollars will be assigned to participate in the development of the continent of Africa to bring the land up to an acceptable standard of the 21st century.
Although not conclusive, the following new business developments will allow us to participate in the continued developement of the "Promised Land:"
Republic of Togo
Togolese Republic
République Togolaise
Area: 56.800 Km²
Population: 5.153.000 (2001 est.)
Density: 91 pop/Km²
System of government: Presidential Republic
Capital: Lomé (513.000 pop.)
Major cities: Sokodé 50.000 pop.
Ethnic majority: Ewe 45%, Kabre 23%, Mina 6%, others 26%
Border countries: Ghana WEST, Burkina Faso NORTH, Benin EAST
Languages: French (official), Ewe, Kabre
Religions: Indigenous Beliefs 50%, Christian 30%, Muslim 20%
Currency: Communaute Financiere Africaine Franc
Republic of Benin
Home:
Industry
Occupation
Regional Information
Community Issues
Consumer Confidence
Consumer Mood
Cost of Living
Economic Condition
Economic Momentum
Exports and International
Gas and Fuel
Gross State Product
Income and Wages
Inflation
Business Climate Comparison
Population
Taxable Sales
Unemployment
LAUS
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Offical Name: Republic of Benin
Capital City: Porto-Novo is the official capital; Cotonou is the seat of government
Population: 7,041,490 note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality and death rates, lower population and growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2003 est.)
GDP Per Capita: $1,100 (2002 est.)
Currency: Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Languages: French (official), Fon and Yoruba (most common vernaculars in south), tribal languages (at least six major ones in north)
Total Area: 112,620 sq km slightly smaller than Pennsylvania
Industries: textiles, food processing, chemical production, construction materials (2001)
Agriculture: cotton, corn, cassava (tapioca), yams, beans, palm oil, peanuts, livestock (2001)
Resources: small offshore oil deposits, limestone, marble, timber
Labor Force: NA
Exports: cotton, crude oil, palm products, cocoa
Imports: foodstuffs, capital goods, petroleum products
CIA World Book
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In 2003 Missouri exported $890,956 in goods to Benin. This ranks Benin 86th among the 232 international buyers of Missouri goods. Missouri exports to Benin increased from the previous year by $312,770 a change of 54.10%. State exports to Benin have increased over the last 5 years by $452,459 a change of 103.18%. Missouri exports account for 2.95% of all 2003 US exports to Benin.
Republic of Ghana
Location:
Ghana is located on the west coast of Africa, about 750 km north of the equator on the Gulf of Guinea, between the latitudes of 4-11.5_ north. The capital, Accra, is on the Greenwich meridian (zero line of longitude). The country has a total land area of 238,305 km2 and is bounded on the north by Burkina Faso, on the west by Cote d'lvoire, on the east by Togo and on the south by the Gulf of Guinea. The land area stretches for 672 km north-south and 536 km east-west.
Area:
92,660 square miles
Land:
The coastal area of Ghana consists of plains and numerous lagoons near the estuaries of rivers. The land is relatively flat and the altitude is generally below 500 m, with more than half of the country below 200 m. The Volta River basin dominates the country's river system and includes the 8,480 km2 Lake Volta (the largest artificial lake in the world), formed behind the Akosombo hydroelectric dam. In the north, the predominant vegetation is savannah and shrub, while the south has an extensive rain forest.
Population:
The population of Ghana is 18.3 million (1990 estimate), with 45 per cent under 15 years of age. The country has on average a population density of about 52 persons per square kilometre. With an annual growth rate of 3.2 per cent, Ghana's population may reach over 19 million by the year 2000.
Most of the population is concentrated in the southern part of the country, with the highest densities occurring in urban areas and cocoa- producing areas. The largest regions in terms of population are Ashanti (about 2 million), eastern (about 1.7 million) and greater Accra (about 1.5 million).
The people Languages:
Ghana's principal ethnic groups are the Akans (Twi- and Fante-speaking), the Guans, Ewes, Dagombas, Gas, Gonjas, Dagabas, Walas and Frafras. Twi, Fante, Ga, Hausa, Dagbani, Ewe and Nzema are the major languages, but the official language of the country is English.
Education:
There are numerous grammar, secondary, basic, commercial, technical and vocational educational institutions throughout Ghana. There are four universities: University of Ghana at Legon and Accra, the University of Cape Coast, the University of Science and Technology at Kumasi and the University of Development Studies-at Tamale, as well as one University College of Education at Winneba. In addition, there are numerous specialized tertiary institutions in the country. A functional literacy programme has recently been initiated in Ghana, targeting illiterate adults
Health:
Ghana has a reasonably good health service. All regional capitals and most districts have hospitals and clinics, and two teaching hospitals in Accra and Kumasi have facilities for treating special cases. Additionally, a number of religious organizations and private medical practitioners operate hospitals and clinics all over the country. Herbal medicine and psychic healing are also generally practiced, and there is a special government Herbal Medicine Hospital and Research Centre at Akwapim-Mampong.
Religion :
The population of Ghana comprises Christians (43 per cent), animists (38 per cent) and Muslims (12 per cent). There is complete freedom of religion in Ghana.
Labor Force:
3.7 million
Exports:
Gold, cocoa, diamonds, timber, aluminum, bauxite, coffee, tuna, textiles
Imports:
Petroleum, consumer durables, foods, capital equipment
Industries:
Mining, lumbering, light manufacturing, aluminum, food processing, textiles and apparel
Climate:
Ghana has a tropical climate, characterized most of the year by moderate temperatures (generally 21-32 ° C (70-90 ° F)), constant breezes and sunshine. There are two rainy seasons, from March to July and from September to October, separated by a short dry season in August and a relatively long dry season in the south from mid-October to March. Annual rainfall in the south averages 2,030 mm but varies greatly throughout the country, with the heaviest rainfall in the western region and the lowest in the north.
Government:
Constitutional democracy
Capital:
Accra
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Cote d'Ivoire
Natural gas reserves and excess electricity generating capacity could lead to Cote d'Ivoire becoming a significant regional energy supplier in coming years. Recent offshore discoveries in the Gulf of Guinea, including natural gas finds in its territorial waters, make Cote d'Ivoire a leading area for hydrocarbon exploration in sub-Saharan Africa.
GENERAL BACKGROUND:
Cote d'Ivoire is currently in a state of political uncertainty. In early September 2002 a failed coup attempt ignited a civil war that split the country into southern provinces controlled by the government and northern and most of the western provinces in rebel hands. Laurent Gbagbo, first elected in 2000, remains the country's president. As of early 2004, however, his government of national unity failed to regain administrative control over the country's full territory. In 2000, Gbagbo became the head of state after defeating a one time military leader General Robert Guei in a controversial election that saw candidates from Cote d'Ivoire's two main parties - Cote d'Ivoire Democratic Party (PDCI) and Rally of the Republicans (RDR) - excluded from the race. Guei had previously assumed the presidency following the Christmas Eve 1999 military coup d'etat that toppled President Henri Konan Bedie. Although peace returned to Cote d'Ivoire in the first two years of Gbagbo's presidency, political violence erupted again in September 2002. Despite the conflict's adverse affects on the overall Ivorian economy, so far there is no sign that oil production has been affected by the turmoil.
Cote d'Ivoire's economy is heavily reliant on agriculture. The country's primarily exports include cocoa, coffee and timber. Together, the revenues from these exports make up approximately 40% of Cote d'Ivoire's gross domestic product (GDP), and approximately 70% of the total export earnings. The country's real GDP shrank by 1.9% in 2003, due to low cocoa prices and the continued political instability in the country. The real GDP is, however, expected to increase by 0.9% in 2004. Inflation was estimated at 3.8% in 2003.
In 1990, the government privatized the management of state electric utility, Compagnie Electricite Ivoirienne (CIE). Other enterprises scheduled for privatization include the state's portion of the Societe Ivoirienne Raffinage (SIR) oil refinery, and segments of Petrolieres de la Cote d'Ivoire (Petroci), the national oil company.
Between 1999 and 2002, the World Bank did not provide any financial assistance to Cote d'Ivoire, citing the country's poor progress in economic management and governance. Although cocoa and coffee production increased, other sectors of the economy, such as telecommunications, mechanical and electrical industries, textiles, garments, and public works all declined. In January 2002, Cote d'Ivoire cleared its arrears with the World Bank, while the country's successful economic performance, prior to the outbreak of the latest round of political violence, led to a staff-monitored program (SMP) and later to the tentative approval of a Poverty Reduction and Growth Facilty (PRGF) by the International Monetary Fund (IMF). Full-fledged resumption of Cote d'Ivoire's relationship with the IMF and the World Bank is not expected to commence until after the complete end to hostilities in the country.
Cote d'Ivoire is an important country in West Africa. It is the leading member of the West African Economic and Monetary Union (UEMOA), accounting for 41% of the group's combined GDP. UEMOA is composed of eight West African states (Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo) that share the same currency (the CFA franc). Cote d'Ivoire is also a member of the 16-nation Economic Community of West African States (ECOWAS). In September 1998, the Abidjan Stock Exchange was replaced by the Bourse Regionale des Valeurs Mobilieres (BRVM), a regional stock exchange. The BRVM serves as the regional exchange for the member nations of the UEMOA.
OIL:
Cote d'Ivoire contains an estimated 100 million barrels of recoverable oil reserves, with offshore reserves first discovered in the 1970's. The national oil company, Petroci, was established in 1975. Petroci was restructured in 1998 and four new entities were created: Petroci Holding, a fully state-owned company that is responsible for the state's portfolio management in the oil sector and the three subsidiaries; Petroci Exploration-Production, responsible for upstream hydrocarbon activities; Petroci-Gaz, responsible for development of the gas sector; and Petroci Industries-Services, responsible for all other related services. Up to 49% interest in the three subsidiaries is available to private sector investors. Petroci's role currently includes the development and maintainance of the main database on Cote d'Ivoire's oil assets, and the assumption of minority participation - generally between 5% and 15% - in the offshore ventures operated by international companies.
Only 7% of the country's oil and gas wells are onshore, with 86% in shallow marine areas and 7% in the deep offshore. Production is currently just under 33,000 barrels per day (bbl/d) -- mainly from the Calgary-based Canadian Natural Resources (CNR) wells.
In June 2002, CNR, through its wholly-owned subsidiary Ranger Oil Cote d'Ivoire, signed a production-sharing contract (PSC) for the CI-400 Block. Block CI-400 is comprised of parts of two other blocks, and is located in deep waters of up to 6,562 feet. CNR also holds interests in several other offshore blocks, including a 58.67% interest and the role of operator in the PSC for Block CI-26, which contains the newly producing Espoir field. CNR's partners on CI-26 are Ireland's Tullow Oil (21.33%) and Petroci (20%).
Re-development of the Espoir field, which was closed down in 1988 due to high production costs, has been estimated at more than $265 million. Espoir's oil production is exported by tanker, while the natural gas is piped to shore where it is used to generate electricity. First production occurred in February 2002, and the field has a life expectancy of 20-25 years. Initial production began at 12,000 bbl/d of oil and 34 million cubic feet per day (mmcf/d) of natural gas and is expected to peak at 28,000 bbl/d of oil and 35 mmcf/d of natural gas. In March 2002, the new wells, tested successfully and began production. Espoir's recoverable reserves are estimated at 93 million barrels of oil and 180 billion cubic feet (bcf) of gas. In September of 2003, Tullow Oil announced that gross production from its East Espoir development has reached 26,700 bbl/d, after the coming into production of the fifth well.
In May 2003, Tullow Oil revealed the discovery of oil in the Acajou prospect in Cote d'Ivoire, confirming the hydrocarbon potential of the area. The well on license CI-26 was drilled around 15 miles off the coast in water depth of 3,050 feet. It reached a total depth of 8,027 feet and the oil produced was thought to be of similarly good quality to the one found in the nearby Espoir field. Tullow has a 24% interest in the Acajou discovery with CNR and Petroci holding 66% and 10% respectively. Tullow also announced a target production of 25,000 bbl/d by early 2004.
CNR operates Block CI-40 with a 61% interest, along with Svenska Petroleum (29%) and Petroci (10%). In March 2001, CNR announced a discovery on Block CI-40, Cote d'Ivoire's first deepwater oil find. The newly discovered Baobab oil field, situated off the coasts of Jacqueville, 62 miles south-west of Abidjan, is expected to come online by the second quarter of 2005 and begin pumping up to 60,000 bbl/d. A second successful well was completed in February 2002. Block CI-40 lies 5 miles south of the CNR-operated Espoir field and is now estimated to have around 200 million barrels of recoverable oil reserves.
In April 2003, US-based Ocean Energy (Ocean) nnounced a merger with Devon Energy Corporation. The new company operates the Lion (oil) and Panther (gas) fields on Block CI-11. Current production from the block is 20,000 bbl/d of oil and nearly 70 mmcf/d of natural gas. Ocean's partners on Block CI-11 are Petroci, Pluspetrol of Argentina, and International Finance Corporation. Ocean has continued development work on Block CI-11 and is now extracting oil from the Lion A5 deep-sea oil well. Recoverable reserves on Block CI-11 are estimated to be 210 million barrels of oil and 495 bcf of natural gas.
Ocean holds interests (ranging from 35%-80%) in several other blocks in Cote d'Ivoire. Development on offshore block CI-01, where several small fields have been discovered, is continuing. Ocean is the operator of that block with an 80% interest. Although primarily natural gas discoveries have been made so far, the Gazelle field has recoverable oil reserves estimated at 8 million barrels. Ocean is the majority holder on Blocks CI-02, CI-12 and CI-104. Ocean holds a 35% interest and is the operator on Cote d'Ivoire's first deep-water offshore block, CI-105. Ocean's partners are Shell (55%) and Petroci (10%).
The U.K.-based Dana Petroleum has an exploration agreement with Cote d'Ivoire for Block CI-100, which is located directly west of acreage held by Dana in Ghana. Dana made an oil discovery on the Ghanaian block in March 2000, and hopes that the oil-bearing structures continue into Ivorian waters. CI-100 is adjacent Block CI-01 where hydrocarbon discoveries were also made.
Off the western coast of Cote d'Ivoire, US independent Vanco Energy Company estimated a total of 2.7 billion bbls to be located in the San Pedro ridge and other deposits on Block CI-112. Vanco secured the rights to CI-112 in 1999. Several seismic studies have already been carried out, and although drilling has yet to start, a development plan based around nine producer wells and three injector wells has been designed by the company. New wells were also reported to have been drilled in blocks CI-12 and CI-101. Further west, CI-104 was reported to contain five new prospects, with estimated reserves ranging between 30-90 million barrels.
Late in 2003, Nigerian-owned Oranto Petroleum acquired new seismic studies on its blocks, CI-205 and CI-206 (deep offshore). Meanwhile, Petroci also reported that fifteen wells had already been drilled on Block CI-01 - neighboring the marine border with Ghana - where Ocean Energy is developing gas concessions.
In December 2003 the Ivorian government initiated a new attempt to attract new investor interest into its petroleum sector. Sixteen new petroleum blocks were made available to interested companies. To bolster their joint case for new investments, the representatives of the government and Petroci emphasized the region's potential for petroleum production with the newly available seismic data. The available blocks ranged from CI-300, CI-301, CI-302, CI-303 -- onshore; CI-12, CI-24, CI-104, CI-107, CI-108, CI-110, CI-112, CI-202 -- with the depth of no more than 656 feet off shore; and CI-100, CI-101, CI-105, CI-109 -- in the deepwater offshore, up to 9,843 feet deep. The Ivorian authorities have set no deadline for new bids.
Refining and Downstream Oil Activities:
Cote d'Ivoire's refining facilities are composed of the 65,200-bbl/d SIR refinery and an adjacent 10,000-bbl/d asphalt plant ( Societe Multinationale des Bitumes-SMB ) in Abidjan. An oil pipeline connects the SIR refinery to the Lion and Panther fields in Block CI-11. The refinery also receives crude oil from Nigeria for refining. The state currently owns 47.27% of SIR, and expects to retain a 10% interest after privatization, due to take place when the political situation in the country improves. Burkina Faso owns a 5.39% stake in SIR, and Total, Shell, ExxonMobil and ChevronTexaco own the remainder.
A petroleum products depot adjacent to SIR stores petroleum products for domestic use as well as for export to other countries in the West African region. The depot, owned by the Societe de Gestion des Stocks Petroliers de Cote d'Ivoire (Gestoci) supplies products to Mali, Burkina Faso, Niger and Chad . Nigeria has received shipments of refined products from Cote d'Ivoire to help ease fuel shortages created by problems with its refineries. Gestoci operates fuel depots in Bouake and Yamoussoukro.
Gestoci, currently joint-owned by the GOC and the petroleum marketers, is set to be restructured. The plan calls for the GOC to have its stake in Gestoci reduced to 34%. The GOC anticipates that refinery expansion coupled with upgrades to Gestoci's Abidjan storage facilities will transform the country into the "Rotterdam of Africa", and make Cote d'Ivoire the main supplier of refined products on Africa's Atlantic seaboard. A products pipeline from Abidjan to Bouake and a separate line from Abidjan to Takoradi, Ghana, are being considered, once hostilities in the country are completely ended and new investor interest acquired. Currently, products are shipped by rail and truck to the Bouake depot. The line, if constructed, may be extended to Burkina Faso, Guinea and Mali. Several foreign oil companies (and one local firm, PetroIvoire) are involved in the distribution and marketing of refined products in Cote d'Ivoire. ENI-Agip, ExxonMobil, ChevronTexaco, TotalFinaElf and Shell control over 90% of the downstream retail sector.
In late August 2003, Nigeria and Cote d'Ivoire reached an understanding to crack down on crude oil theft and smuggling racket that is fueling unrest and piracy in the strife-torn Niger-Delta. This followed an accord between the two countries, which will see Nigeria supplyiing Cote d'Ivoire with 30,000 bbl/d of crude oil.
NATURAL GAS & LPG:
Natural gas reserves in Cote d'Ivoire, first discovered in the 1980's, recently have begun to be developed and utilized. Current estimates of Cote d'Ivoire's recoverable natural gas reserves stand at 1.1 trillion cubic feet. Over the next four years, the GOC estimates that natural gas consumption will grow by 50%. Natural gas production from Espoir is expected to average 35 mmcf/d over 20 years.
Ocean and its partners are currently producing natural gas from the Panther field on Block CI-11. The natural gas is transported to a site near Abidjan via pipeline, where it is used primarily to generate electricity. Future industrial uses are planned. Ocean announced in April 1997 that it had signed a ten-year, take-or-pay agreement to annually supply 170 bcf of gas for electricity generation. Under a take-or-pay agreement the buyer agrees to pay a certain price for a specified amount of gas, whether the buyer actually uses (takes) the gas or not. The gas would be supplied from fields operated by Ocean located offshore eastern Cote d'Ivoire in Block CI-01 (Kudu, Eland and Ibex fields) and Block CI-02 (Gazelle field). Initial deliveries began in early 1999.
In April 1997, U.S.-based Apache was granted a ten-year take-or-pay contract for Block CI-27. Apache's partners on the field are Electricite de France (EDF), Petroci and Saur - Bouygues (SAUR) . The offshore block, which contains the Phillips-discovered Foxtrot natural gas field, is seen as having greater potential as a gas producer. The original estimate of recoverable reserves on Block CI-27 included over six million barrels of gas condensate. Foxtrot is now the country's largest natural gas deposit, with an estimated 650 bcf of recoverable gas. The partners initiated production in June 1999. In September 1999, Apache reduced and restructured its holdings on Block CI-27 by selling its stake in Foxtrot field to Mondoil. Mondoil and SAUR assumed joint management of the operation. Apache continues to provide technical services to the project, retaining an interest through its participation in Mondoil (Apache is a shareholder in Mondoil).
Cote d'Ivoire is poised to become a regional natural gas exporter. Negotiations between Cote d'Ivoire and Ghana to adopt a memorandum of understanding (MOU) on the sale of gas began in 1997. In April 1999, an agreement was signed by the governments of Cote d'Ivoire and Ghana with the UK government and Penspen for a feasibility study to build a gas pipeline between Cote d'Ivoire and Ghana. The UK Department of Trade and Industry has said it will share the cost of the study with Penspen. The pipeline would run from Abidjan to Takoradi in Ghana, which is the location of a power plant currently fueled by light oil. Construction of the pipeline is estimated to take 15-18 months. The possibility of connecting the line to the proposed West Africa Gas Pipeline (WAGP) is being studied.
The GOC estimates that domestic consumption of butane will more than double over the next five years. In 1998, Ocean began operation of a liquefied petroleum gas (LPG) extraction plant it built near Abidjan. The facility produces 40,000 metric tons of LPG and gasoline annually, from 70 mmcf/d of natural gas feedstock. The GOC and Morocco signed an agreement in September 1998 for the establishment of an industrial plant in Cote d'Ivoire, Simgaz, to produce gas cylinders. Estimated production from the plant is 350,000 gas cylinders per year. A pilot LPG-fuelled vehicle program has been proposed. Two filling and conversion stations will be constructed in Abidjan.
ELECTRICITY:
Cote d'Ivoire is a net exporter of electricity and currently has installed electric generation capacity of 0.89 gigawatts. Gas-powered stations generate more than half of the country's annual production. The first gas-fired plant, Vridi II, was built in the late 1995 near Abidjan. Another power station at Azito, in Abidjan's suburbs, began to supply electricity to the grid in 1999. The phased construction of a third turbine in Azito has been delayed pending a satisfactory rise in domestic and regional demand for electricity, through the West African Power Pool (WAPP), an extension of the national grid. Although they are no longer running at full capacity, hydroelectric plants (Ayame I and II, Kossou, Taabo, Buyo and Grah) still generate about 37% of the country's electricity. Fuel-powered individual generators are also widely used.
The use of gas-fired electricity plants has turned the country into a regional exporter of electricity. Some of the client-countries connected to the Ivoirian power grid include Benin, Togo, Mali, Burkina Faso and Ghana. An additional connection to Guinea is being studied. Electricity generation totalled 4.6 billion kilowatthours in 2001. The government has made rural electrification a main priority, aiming to connect 200 rural districts to the national grid every year. According to official estimates, less than 15% of the population living in rural areas has access to electricity, compared with 77% in urban areas and 88% in Abidjan. The Compagnie ivoirienne d'electricite (CIE), which is 51% owned by a subsidiary of France's Bouygues group, has a monopoly on electricity supply. CIE handles the management of the government-owned generation facilities as well as transmission and distribution of electricity in Cote d'Ivoire.
Cote d'Ivoire is a leading proponent of the development of the WAPP, which was formed by an agreement between ECOWAS Energy Ministers in November 1999. Although the formal structure and operational agreements for the pool have yet to be determined, it is envisioned that the WAPP will interconnect the power networks of all the mainland ECOWAS nations.
Sources for this report include: African Energy; Agence France Press; AllAfrica.com; Associated Press; BBC News; CIA World Factbook 2003; Economist Intelligence Unit ViewsWire; Factiva; Global Insight World Overview; MBendi Information Services; New York Times; Oil & Gas Journal; Reuters News Wire; UN Integrated Regional Information Networks (IRIN); U.S. Energy Information Administration; U.S. Department of State; Washington Post; World Markets Online; XE.com.
COUNTRY OVERVIEW:
President: Laurent Gbagbo (since October 26th, 2000)
Prime Minister: Seydou Diarra (since January 25th, 2003)
Independence: August 7, 1960 (from France)
Population (2003E): 16.8 million
Location/Size: Western Africa, bordering the Atlantic Ocean, between Liberia and Guinea (on the west); Ghana (on the east); Burkina Faso and Mali (on the north)/124,500 square miles, slightly larger than New Mexico
Major Cities: Yamoussoukro (administrative capital), Abidjan (commercial capital), Bouake
Languages: French (official), over 60 native dialects
Ethnic Groups: Akan (the Baoule subgroup accounts for 23% of the population), Kru (the Bete subgroup accounts for 18%), Senoufo 15%, Malinke 11%, Agni, Mande. There are nearly 3 million foreign Africans (mainly from Burkina Faso and Mali), and an estimated 130,000-330,000 non-Africans (French 30,000 and Lebanese 100,000-300,000)
Religion: Muslim 60%, Christian 22% (predominantly Roman Catholic), traditional beliefs 18%
ECONOMIC OVERVIEW:
Minister of the Economic Affairs and Finance: Paul Bohoun Bouabre
Currency: Communaute Financiere Africaine (CFA) franc
Market Exchange Rate (03/04/04): US$1 = 538.5 CFA
Nominal Gross Domestic Product (GDP at market exchange rate) (2003E): $14.2 billion
Real GDP Growth Rate (2002E): -1.2% (2003E): -1.4%
Nominal GDP per Capita (2003E): $840
Inflation Rate (2002E): 3.1% (2003E): 4.2%
Current Account Balance (2003E): $467 million
Major Trading Partners: European Union, United States, ECOWAS-member states
Merchandise Exports (2002E): $5.48 billion (2003E): $6.18 billion
Merchandise Imports (2002E): $2.95 billion (2003E): $3.30 billion
Merchandise Trade Balance (2002E): $2.53 billion (2003E): $2.88 billion
Major Export Products: Cocoa, coffee, timber, petroleum products
Major Import Products: Food, consumer goods, industrial goods, machinery
Total External Debt (2003E): $10.7 billion
ENERGY OVERVIEW:
Minister of Mines and Energy: Leon Emanuel Monnet
Proven Oil Reserves (1/1/04E): 100 million barrels
Oil Production (2003E): 32,970 barrels per day (bbl/d), of which 31,970 bbl/d is crude oil
Oil Consumption (2003E): 32,000 bbl/d
Net Oil Imports (2003E): 970 bbl/d
Crude Refining Capacity (1/1/04E): 65,200 bbl/d
Natural Gas Reserves (1/1/04E): 1.05 trillion cubic feet (tcf)
Natural Gas Production (2001E): 47.7 billion cubic feet (bcf)
Natural Gas Consumption (2001E): 47.7 bcf
Electric Generation Capacity (1/1/01E): 0.89 million kilowatts
Electricity Generation (2001E): 4.6 billion kilowatthours (of which 61% is thermal, 39% is hydroelectric)
ENVIRONMENTAL OVERVIEW:
Minister of Environment: Angele Gnonsoa
Total Energy Consumption (2001E): 0.12 quadrillion Btu (0.03% of the world total)
Energy-Related Carbon Dioxide Emissions (2001E): 7.04 million metric tons of carbon dioxide (0.03% of world carbon dioxide emissions)
Per Capita Energy Consumption (2001E): 7.1 million Btu (vs. U.S. value of 341.8 million Btu)
Per Capita Carbon Dioxide Emissions (2001E): 0.37 metric tons of carbon dioxide (vs. U.S. value of 20.17 metric tons of carbon dioxide)
Energy Intensity (2001E): 5,616 Btu/ $1995 (vs. U.S. value of 10,810 Btu/ $1995)**
Carbon Dioxide Intensity (2001E): 0.03 metric tons of carbon dioxide/thousand $1995 (vs. U.S. value of 0.62 metric tons/thousand $1995)**
Fuel Share of Energy Consumption (2001E): Oil (56.2%), Natural Gas (39.8%), Hydro (4.00%)
Fuel Share of Carbon Dioxide Emissions (2001E): Oil (64.3%), Natural Gas (35.6%)
Status in Climate Change Negotiations: Non-Annex I country under the United Nations Framework Convention on Climate Change (ratified November 29th, 1994). Not a signatory to the Kyoto Protocol.
Major Environmental Issues: Deforestation (most of the country's forests, once the largest in West Africa, have been cleared by the timber industry); water pollution from sewage and industrial and agricultural effluents
Major International Environmental Agreements: A party to Conventions on Biodiversity, Climate Change, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94 and Wetlands
* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar and wind electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data
**GDP figures from OECD estimates based on purchasing power parity (PPP) exchange rates.
OIL AND GAS INDUSTRIES:
Organization: Petrolieres de la Cote d'Ivoire (Petroci) has four operating subsidiaries (Petroci-Holding, Petroci-Exploration/Production, Petroci-Gaz, and Petroci-Industries/Services
Major Oil Fields: Lion, Panthere
Major Gas Fields: Foxtrot, Kudu, Panther
Major Refineries (1/1/04E Capacity): Societe Ivoirienne de Raffinage (SIR) - Abidjan (65,200 bbl/d), Societe Multinationale des Bitumes (SMB) - Abidjan (10,000-bbl/d)
Foreign Oil Company Involvement: Addax, Apache, Canadian Natural Resources, Dana Petroleum, Energy Africa, ENI-Agip, ExxonMobil, Gentry, Gulf Canada, Ocean/Devon Energy, PanCanadian Petroleum, Pluspetrol, Royal Dutch/Shell, Santa Fe Snyder, Stratic Energy, Texaco, TotalFinaElf, Tullow, Vanco Energy
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