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Oil & Gas Databook for Developing Countries - With the Special Reference to the ACP Countries (Paperback, Softcover reprint of the original 1st ed. 1985)
Loot Price: R1,534
Discovery Miles 15 340
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Oil & Gas Databook for Developing Countries - With the Special Reference to the ACP Countries (Paperback, Softcover reprint of the original 1st ed. 1985)
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The oil crises of 1973 and 1979 have had a profound effect on the
economies of the less developed countries (LDCs). The African,
Carib bean and Pacific (ACP) countries associated with the European
Com munity as joint signatories of the Lome conventions have
suffered in equal measure with other LDCs. Energy, because of its
contribution to national development, is of primary importance to
the ACP countries and since oil forms the basis of the energy
sector in these countries any increase in price leads to
considerable economic knock-on effects. The majority, over 90%, of
the ACP countries are energy importers, that means oil importers.
Their economies are based in the main on agriculture which normally
contributes most to total GDP. Exports from these countries are
mainly primary commodities such as coffee, cotton, tea, cereals,
tobacco, copper, zinc, lead, cobalt etc. In most of the ACP
nations, exports of commodities comprise over four-fifths of total
merchandise exports. Imports, meanwhile, consist mainly of capital
goods (including transport equipment), manufactures, petroleum and
food stuffs. As a result of the international recession, falling
commodity prices and the increase in crude oil prices, the balance
of payments position of these countries has deteriorated sharply
over the past few years. The resulting shortage of foreign exchange
prevents many nations from importing sufficient raw materials and
capital equipment for their industries. Consequently, plant
utilisation rates are running at very low levels."
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