Please ensure Javascript is enabled for purposes of website accessibility

Will the Next Oil Boom Come Out of Africa?

By Tyler Crowe and Aimee Duffy - Apr 25, 2013 at 5:26PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The American oil and gas boom is old news, so where can we expect the next big finds in the energy sector?

There is a lot of buzz over recent energy activity in Sub-Saharan Africa. With Anadarko Petroleum (NYSE: APC) and Eni (E 2.13%) making large gas finds off the coast of Mozambique, several majors are now looking to get in the game as well. BP plans to spend $540 million over the next five years to develop a part of this gas field that could hold well over 100 trillion cubic feet. 

Better drilling technology and relative political stability in the region have allowed several companies to start investing money in the region, and if some of these plays hit paydirt, some companies could be in for big paydays. In this video, Fool.com contributor Tyler Crowe talks with Aimee Duffy about some of the hot energy plays on the African continent and what we should expect from this region in the years to come.  

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Exxon Mobil Corporation Stock Quote
Exxon Mobil Corporation
XOM
$96.30 (2.01%) $1.90
Petroleo Brasileiro S.A. - Petrobras Stock Quote
Petroleo Brasileiro S.A. - Petrobras
PBR
$14.55 (2.25%) $0.32
BP p.l.c. Stock Quote
BP p.l.c.
BP
$32.37 (0.90%) $0.29
TotalEnergies Stock Quote
TotalEnergies
TTE
$58.28 (2.75%) $1.56
Eni S.p.A. Stock Quote
Eni S.p.A.
E
$30.17 (2.13%) $0.63

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
322%
 
S&P 500 Returns
116%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.