This report addresses two main questions: How can Africa’s oil boom contribute to alleviating poverty? What policy changes should be implemented to promote the management and allocation of oil revenues in a way that will benefit ordinary Africans? Chapter 2 focuses on why oil revenue is particularly vulnerable to misuse and has rarely translated into poverty alleviation. Chapter 3 examines the cases of Nigeria, Gabon, Angola, Congo-Brazzaville, and Equatorial Guinea. Chapter 4 discusses efforts by different actors to make oil revenue more transparent and accountable. Chapter 5 looks in depth at the Chad-Cameroon Oil Pipeline Project. The report offers several recommendations to all of the relevant actors in African oil development and exploitation on how to prevent the negative effects of the industry.