Elaeis guineensis 1993. Elaeis guineensis Elaeis guineensis is a species of palm commonly called African oil palm or macaw-fat. It is the principal source of palm oil. It is native to west and southwest Africa, specifically the area between Angola and The Gambia; the species name "guineensis" refers to the name for the area, Guinea, and not the modern country which now bears that name. The species is also now naturalised in Madagascar, Sri Lanka, Malaysia, Indonesia, Central America, the West Indies and several islands in the Indian and Pacific Oceans. The closely related American oil palm "Elaeis oleifera" and a more
Oil reserves in Nigeria Oil reserves in Nigeria Although Libya has more reserves, there were of proven oil reserves in Nigeria as of 2011, ranking the country as the largest oil producer in Africa and the 11th largest in the world, averaging in 2006. At current rates this would be 45 years of supply if no new oil was found. Pipeline vandalism, kidnappings, and militant takeover of oil facilities have reduced production, which could be increased to in the absence of such problems. The Nigerian government hopes to increase oil production capacity to by 2010. Nigeria is the world’s eighth largest exporter of crude