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Will the Next Oil Boom Come Out of Africa?

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

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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, 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.  

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Stocks Mentioned

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

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