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Thursday, July 7, 2022

Top 11 Biggest Oil Companies in Africa

Africa has continued to lead growth in the global oil supplies, not just on the continent, for the past decades, and the development will continue through 2040. 

Despite that, Shell, Mobil, and oil companies owned by other continents dominate in Africa, thanks mainly to the African state-owned oil corporations with big names in terms of revenues.

The list of the biggest enterprises in Africa below in the oil and gas space provides data on their investment activities, revenue, and employment opportunities. 

Read through to gain insights about top trending oil companies headquartered in Africa.

1. PetroSA – South Africa 

PetroSA, in full, the Petroleum Oil and Gas Corporation of South Africa, is a national oil company that is entirely owned by the state, operating as a public corporation under the Central Energy Fund (CEF).

As one of Africa’s largest oil and gas companies, it specializes in various upstream and downstream activities, including natural gas, petroleum, and related products. 

The creation of PetroSA emerged in 2002 from the joining of three entities – Soekor Limited, Mossgas Limited, and parts of the Strategic Fuel Fund Association. 

PetroSA’s Major Business Activities

• Oil and natural gas exploration and production

• Acquisition of international and local upstream petroleum ventures 

• Synthetic fuels production, particularly from Mossel Bay offshore gas, South Africa – one of the largest global Gas-to-Liquid (GTL) refineries.

• Domestic refining and liquid fuels logistical infrastructure development

• Oil and petrochemicals trading and marketing

Revenue of PetroSA: The renowned oil company currently has a revenue generation of 0.94 billion dollars. 

Net income: The net income of PetroSA oil company is R (1.608) billion, while the operating income is R (1.165) Billion.

Employment opportunity: PetroSA offers many job opportunities, with 1,594 employees in 2017.  

Location: 151 Frans Conradie Drive Parow, Cape Town, 7500 South Africa. 

Headquarters: Western Cape, Cape Town, South Africa.

2. Nigerian National Petroleum Corporation (NNPC) 

Nigerian National Petroleum Corporation, abbreviated as NNPC, is among the biggest oil companies in Africa, interested in all oil and gas value chain areas.

It is a state-owned oil company established on April 1st, 1977, as the regulatory medium of the country’s petroleum industry.

NNPC controls its operations through strategic business and corporate services units, thus majoring in exploration activities, with operational interests in refining.

It has a joint venture with foreign corporations, viz: Agip, Royal Dutch Shell, ExxonMobil, Chevron, and Total S.A.  

NNPC Headquarters: Four identical towers, Herbert Macaulay Way, Abuja, and zonal offices in Warri, Lagos, Port Harcourt, Kaduna, and London.

NNPC’s Revenue

With its activities cutting towards exploration, refining, marketing, petrochemicals, and product transportation, its revenue is USD 12.98 billion. 

Employees in NNPC

NNPC is one of the oil companies in Africa that creates job opportunities as it has a total of 6,621 employees.  

Net income of NNPC

Recently, NNPC’s net income is 287 billion naira profit after-tax payments. 

Organization type: state-owned enterprise

Services: the products in NNPC include gas, crude oil, petrochemicals, and petroleum products. 

Headquarters: the administrative office of NNPC is in Abuja, FCT, Nigeria. 

3. Star Africa Commodities & Minerals Limited – Ghana

Star Africa Commodities & Minerals Limited is an aboriginal oil and gas company otherwise called Star Africa. 

The Star Africa, an indigenous Ghanaian oil company, was formed in 2009 to acquire interests in mineral and hydrocarbon drops all over Africa.  

Activities of Star Africa Commodities & Minerals Limited 

The company’s activities include mining, minerals exploration & production, and supports agriculture industries in Ghana with their products and services.

Location:  83 Osu Badu Street Airport West Residential, Accra, Ghana.  

Revenue of Star Africa 

The recent revenue of Star Africa is 48 100 120 while its operating profit is 2 198 350 and earnings before tax grew by 20%. 

4. KenolKobil Plc – Kenya 

Kenya Oil Company Limited (Kenol) Kobil Plc is a pan African oil company and one of the biggest on the continent, currently referred to as Rubis Energy. 

The company, owned by a private group, Kenol, and Kobil, spans seven countries across southern, central, and eastern Africa. 

Product and services of Rubis Energy

Rubis Energy offers Rubis fuel, lubricant, card, gas, car care products, Rubis app, store, and payment solutions. 

Headquarters: Nairobi, Kenya.  

5. Tanzania Petroleum Development Corporation 

The Tanzania Petroleum Development Corporation (TPDC) is a national oil company in charge of all licenses for energy development in Tanzania.  

The oil company, totally owned and controlled by the Tanzanian government, is an industry for petroleum and natural gas. 

Subsidiaries of TPDC

Tanzania Petroleum Development Corporation, founded in 1969 and headquartered in Dar es Salaam, has Tanoil and Gasco as subsidiaries. 

Employment in TPDC

Tanzania Petroleum Development Corporation, structured into seven directorates and three units, has over 400 workforce strengths. 

Organization type: Parastatal Corporation 

6. Egyptian General Petroleum Corporation 

Egyptian General Petroleum Corporation (EGPC) is a national oil company in Egypt owned and managed by the Egyptian Ministry of Petroleum. 

The oil company established in 1956 has its headquarters in Cairo and engages in products like natural gas, petroleum, and petroleum goods. 

Employment opportunity in EGPC

EGPC owning 70% of the Egyptian Natural Gas Company shares, has given job allocations to over 2,000 employees. 

Net profit

According to the forecast, the fiscal net profit of the Egyptian General Petroleum Corporation yearly is EGP 21.4 billion.  

Company type: public corporation  

7. Sonatrach Algeria 

Sonatrach is among the biggest oil corporations in Algeria and the 12th largest oil conglomerate worldwide. 

Sonatrach, a state-owned company, has over 154 subsidiaries operating an oil value chain from midstream to upstream and downstream activities. 

The oil company founded by the Algerian government in December 1963 is now the largest in Africa. 

Sonatrach selected field

Sonatrach operates in fields like Hassi Messaoud field, Ait Kheir, Hassi R’Mel gas field, Tin Fouye Tabankort Ordo, Haoud Berkaoui, and Zarzautine field.


Sonatrach, an oil company that produces 12.2 barrels of proven oil, has 76.1 billion dollars as its total revenue.

Employment in Sonatrach

The company, a producer of products like oil, petrochemicals, and natural gas, has granted job opportunities to more than 120,000 people. 

Organization type: State-owned venture

Headquarters: Hydra, Algiers, Algeria. 

Products: the company’s products are natural gas, petrochemicals, and oil like fuels and lubricants. 

8. Société Nationale des Pétroles du Congo

Société Nationale des Pétroles du Congo or the National Petroleum Company of Congo is a national oil company established in the Republic of Congo in 1998.

The company, which manages the government-owned shares of production from oil fields in Congo, was established after the dissolution of Hydro-Congo. 

Fields the company work with

The oil company has stakes in Moho-Bilondo, Congolaise de Raffinage, Sendji, Mwafi, Yanga, M’Boundi, Foukanda, Kitina, Tilapia, etc. 

Subsidiaries of SNPC 

The five subsidiaries of Société Nationale des Pétroles du Congo (SNPC) include ILOGS, SONAREP, SFP, SNPCD, and CORAF. 

Employment/ net profit in SNPC

The SNPC, located in Brazzaville, Congo, has more than one hundred employees and generates sales worth over USD 28.81 million per annum. 

Headquarters: Republic of the Congo 

Products: the products available in this company is only petroleum

9. Sonangol Group – Angola 

Sonangol Group, also called Grupo Sonangol, is a parastatal that supervises the production of natural gas and petroleum in Angola.  

The oil company will have more than 5 billion barrels of coastal petroleum and offshore reserve in the future. 

With headquarters of the company in Luanda, Angola, it produces 232,000 barrels of oil per day. 

Sonangol Group Subsidiaries

The Sonangol oil company has over 30 subsidiaries and preserves abroad facilities in cities like Hong Kong, Congo, Houston, Singapore, and London. 

Net profit

Sonangol, the economic engine of the country’s oil economy, has a net profit of 79.98 billion in 2018 but experienced a $4.1 billion loss in 2020.  

Company type: Statutory Corporation 

Headquarters: the chief administrative office of Sonangol Group is in Luanda, Angola.  

10. Madagascar Oil

Madagascar Oil has been one of the leading and the biggest operating oil and gas company in Madagascar since 2004. 

The company founded by Sam Malin and Alan Bond is the standard onshore oil company in Madagascar in terms of oil possessions.  

Madagascar oil is the first oil and gas company in Madagascar to advance an upstream oil discovery project in 2015. 

Office of Madagascar oil 

The Madagascar oil’s operational office is in Antananarivo, Madagascar, and its headquarters is in Singapore. 

Products and services it renders

Madagascar oil produces only heavy crude oil in its oil field in Tsimiroro, Morondava Basin of western Madagascar. 

Company type: Private Enterprise 

11. National Oil Corporation – Libya  

National Oil Corporation (NOC), a sequel oil company to the general Libyan Petroleum Corporation, was established to support the economy of Libya.  

Established on November 12th, 1970, NOC carries out production operations and exploration through its allied companies. 

The company holding the largest oil reserve in Africa is a member of the Organization of Petroleum Exporting Countries (OPEC). 

Employment Opportunities 

NOC provides thousands of jobs to professions like engineering, administration, and accounting in human resources development. 

Company type: State-owned 


The National Oil Corporation offers its numerous subsidiaries crude oil, petrochemical, and natural gas services.  

Headquarters – Tripoli, Libya. 

Which African country produces oil the more?

Nigeria is the largest oil producer on the continent, with its crude production totaling 1.27 million barrels per day.

What are the three (3) biggest global oil companies?

The three biggest global oil companies are;

  • China Petroleum & Chemical Corp
  • PetroChina Co. Ltd, and 
  • Saudi Arabian Oil Co.

Which is Nigeria’s biggest oil company?

The biggest oil company in Nigeria is Shell Petroleum Development Company of Nigeria Limited (SPDC).

The company is known as Shell Nigeria, and it’s a joint venture operating in Nigeria.

Which African country exports the most oil?

Nigeria exports the most oil from Africa, and as of 2020, it shipped over 1.8 million barrels of oil daily to other parts of the world.

Bottom Line

The biggest oil companies discussed above are mainly state-owned energy conglomerates headquartered in Africa, with sprawling international operations.

For years, they have been a source of massive development to the continent via oil production and exploration, petroleum processing, storage, transportation, and several other functions along the oil and gas supply chain.

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