The Gulf of Guinea Coast and the Global Quest for Energy

Abstract

The Gulf of Guinea countries are endowed with petroleum resources. The discovery of more oil wells, industrial expansion in China and India, the quest for increased and different sources of oil supply by the United States and European countries, the unstable political scene and terrorism in the Middle East, the pliant nature of the Gulf of Guinea countries, and the non-existence of transit choke-points in the region, have made the quest for the region’s oil resource inevitable. This paper interrogates issues emanating from oil exploration in this part of the world. It assesses the United States’ security efforts, China’s strategy, India and Brazil’s interest and the competition among these economic powers in the region. This paper also considers the benefits that may accrue to these nations with the presence of these multinationals, relations among the Gulf of Guinea states and the actual interest of these economic powers in the region. Oil has made the region susceptible to criminal activities and this has adverse security implications on the region generally.The required information necessary for this study was collected through primary and secondary sources. This paper suggests that the Gulf of Guinea states should strengthen the already existing cooperation among the Gulf of Guinea Commission members and other related agencies in the region as this would enhance more cooperation among the states and avoid major oil related conflicts in the region. It is important to create a regional oil policy that can promote peace, security, stability and attract more investment to the region.