A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies. Moneyweb Fuel Oil
A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and causing queues at filling stations. The surge in prices comes in tandem with a spike in the cost of food after Russia sent troops into Ukraine, hitting tens of millions of people already living in precarious conditions, as well as government and aid agency budgets.
But its much-anticipated launch has been pushed back to next year and the overhaul of Nigeria’s Port Harcourt refinery which will take years has only just started after two decades of discussion. Angola, which is Africa’s second-biggest oil producer pumping about 1.1 million bpd, has plans to build more refineries in addition to its sole 65,000 bpd plant in Luanda.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shortage of skills in critical sectors in South AfricaSouth Africa is facing a continued shortage of critical skills, says listed workforce solutions company, Adcorp – particularly in nursing and information technology fields.
Read more »
Shops starting to limit some products as ‘price storm’ hits South AfricaSouth Africans have noticed the shelf price of many goods increasing and much of this can be attributed to the ongoing crisis in Ukraine, say analysts at professional services firm PwC.
Read more »
Government announces last minute petrol price intervention for South AfricaSouth Africa’s government has extended its general fuel price levy intervention until the beginning of August.
Read more »
Updated Covid travel rules for South AfricaTravellers flying into South Africa have raised concerns about presenting proof of Covid vaccination before entering the country, with almost every country using its own unique vaccine system and passport.
Read more »
Billions flowing into payment companies in South AfricaSouth African fintech companies are amassing billions in investment as they capitalise on a surge of demand for cashless and online payments.
Read more »
New driving tax proposed for South AfricaThe Department of Transport is investigating the introduction of a new ‘traffic management levy’ which will help with the financing of traffic management resources at both the provincial and national level.
Read more »