Africa’s refining gaps fuel supply, economic crisis

Africa’s refining gaps fuel supply, economic crisis

WIEN DIGEST
The inability of African countries to develop commensurate refining capacity to meet internal fuel consumption is responsible for the myriad of economic woes associated with reliance of mass importation of petroleum products. Women in Energy Network and other industry groups who spoke at the last sessions of the just concluded Oil Trading and Logistics (OTL) Africa Downstream Week in Lagos pointed at the inverse relationship between Africa’s rising fuel demand and lowering capacity to process crude oil and condensate into consumable products. Besides the mismatch between demand and refining, the panelists observed that reliance on imported petroleum products into the economy has become a major cost driver for players, government and consumers in the domestic market. It would be recalled that one of the key disputes in the ongoing efforts…
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