How will Calao’s oil discovery impact Ivory Coast?
Recognized by National Oil Company Petroci as the country¡¯s second-largest find, Calao¡¯s resources could likely support the industrial sectors of Ivory Coast. The discovery is expected to generate substantial revenues, creating over 8,000 direct and indirect jobs and attracting increased investments to the sector.
Who produces the most palm oil in Ivory Coast?
But, as in Nigeria and Ghana, it is the smallholders in Ivory Coast, like Desire-Jacques Porquet, who produce most of the country’s palm oil. "Palm oil is important because it supports two million people [in Ivory Coast]," Mr Porquet says as he turns off the smooth, tarred highway and drives deep into the bush along a winding, dusty track.
Where does palm oil come from?
The palm oil industry originated in West Africa but is now dominated by massive plantations in South-East Asia. The BBC’s Tamasin Ford reports that Ivory Coast, and other African countries, are trying to take the lucrative business back home to tap into its profits.
How much oil does Ivory Coast have?
Exploration campaigns in Ivory Coast have revealed substantial deposits of hydrocarbons, with the Baleine field alone estimated to hold as much as 2.5 billion barrels of crude oil and 3.3 trillion cubic feet of gas.