Côte d’Ivoire’s oil industry started to take off in 2001 during a period of civil war. By 2007, oil exports represented 28 percent of the governments export revenues, surpassing cocoa and coffee, the country’s traditional export commodities. The majority of Côte d’Ivoire’s electricity is generated through natural gas-powered stations with hydroelectricity accounting for around 20 percent. While gradually becoming a net oil exporter, International Energy Agency (IEA) data indicates that more than half of domestic energy needs are met by combustible renewables and waste, mainly in the form of biomass.

There are several foreign companies participating in the Ivorian oil industry and, as of May 2008, Côte d’Ivoire became a candidate country for the Extractive Industries Transparency Initiative (EITI). As such, it has two years to become compliant with the EITI criteria and undergo validation. Membership could further boost foreign investment in the oil, natural gas and mining sectors.