War in the Middle East forces Africa to seek new fuel – supplies under threat
Kyiv • UNN
The war in Iran has blocked the supply of 600,000 barrels of oil daily. African countries are depleting reserves and trying to find alternative fuel sources.
African countries are urgently seeking alternative fuel sources due to supply disruptions from the Middle East. The war in Iran and restrictions on movement through the Strait of Hormuz have put approximately 600,000 barrels of oil products per day at risk. This is reported by Bloomberg, writes UNN.
Details
Many economies have been operating on reserve stocks for several weeks. Governments are trying to negotiate new contracts but face competition from wealthier countries.
Dependence on imports has become critical
East and Southern Africa have been most affected, with up to 75% of fuel imports coming from the Middle East. Some countries, such as Kenya, are completely dependent on imports and have only a few weeks' supply.
In South Africa, the situation is complicated by reduced refining capacity, which increases reliance on external supplies.
Prices are rising, governments are imposing restrictions
Due to shortages and logistical problems, suppliers have already begun rationing fuel sales. In some countries, authorities are urging the public to conserve resources to avoid a crisis.
At the same time, experts warn that regulated prices may conceal future problems with fuel availability.
Nigeria remains a partial exception, as it has a reserve and even export potential thanks to a new oil refinery.