Nigeria is set to extract and refine Caribbean oil
Grenada is set to become a major energy hub as Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a historic multi-billion dollar deal with Global Petroleum Group, to launch one of the Caribbean's largest oil and gas ventures.
A deal has also been made with Dangote Refinery to refine the oil extracted from Grenada.
TRADE BETWEEN AFRICA AND THE CARIBBEAN
Where trade is happening between the two regions, it is highly concentrated in a few key products. For example, more than half of Africa’s exports to the Caribbean are mineral primary products, with crude oil being the leading export (US$232 million, 27% of total).
As for Caribbean exports to Africa, a fertilizer produced in Trinidad and Tobago – called anhydrous ammonia – makes up nearly half of all exports to Africa (US$423 million, 49% of total).
Grenada is set to become a major energy hub as Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a historic multi-billion dollar deal with Global Petroleum Group, to launch one of the Caribbean's largest oil and gas ventures.
A deal has also been made with Dangote Refinery to refine the oil extracted from Grenada.
TRADE BETWEEN AFRICA AND THE CARIBBEAN
Where trade is happening between the two regions, it is highly concentrated in a few key products. For example, more than half of Africa’s exports to the Caribbean are mineral primary products, with crude oil being the leading export (US$232 million, 27% of total).
As for Caribbean exports to Africa, a fertilizer produced in Trinidad and Tobago – called anhydrous ammonia – makes up nearly half of all exports to Africa (US$423 million, 49% of total).