“On the supply side, Sub-Saharan Africa lacks sufficient refining capacity and therefore is highly dependent on imports,” the report states. It points out that the region needs to import nearly 700,000 b/d of diesel, which is 80% of its needs. “This gap has grown considerably since 2020 when a wave of refinery closures swept the region and slashed domestic supply. Nigeria oil refinery about to come online later this yearThe Russia conundrum affecting Sub-Saharan Africa energy sector“Moreover, in 2023 the global market is forecast to remain tight, with disruptions anticipated owing to the expected embargo on Russian exports. Of referenceRising energy prices a big worry for metals and mining industry“For the Sub-Saharan Africa region, however, results were mixed.

Source: The North Africa Journal March 07, 2023 21:17 UTC