HomeEconomyEnergyGLOBAL OIL TRADE SHIFTS AS RUSSIA DEEPENS INDIA EXPORTS, LEAVING NIGERIA, ALGERIA...

GLOBAL OIL TRADE SHIFTS AS RUSSIA DEEPENS INDIA EXPORTS, LEAVING NIGERIA, ALGERIA AND ANGOLA UNDER PRESSURE

Russia is facing a worsening fuel shortage that has resulted in fuel rationing, long queues at filling stations, and sharp increases in gasoline prices across the country, prompting Moscow to seek fuel imports from abroad.

Africa's oil giants, Nigeria, Angola, and Algeria on standby as Aramco  warns of 100 million barrels weekly loss if Hormuz stays closed | Business  Insider Africa

The development could create new opportunities for African oil-producing nations with operational refineries, including Algeria, Angola, Nigeria, Libya, and Egypt, as global markets search for reliable fuel suppliers amid ongoing geopolitical tensions and disruptions to international energy trade.

Traditionally, Russia has relied on its own refining capacity and has not depended on African oil. However, growing fuel shortages and sanctions-related challenges are pushing the country to explore alternative sources of refined petroleum products.

ADS 5

Reports indicate that Russia has already begun importing gasoline from India, with at least 60,000 metric tonnes shipped to help ease domestic shortages. Additional fuel imports are expected from several countries, including neighbouring Belarus, as the Kremlin looks to stabilize supply.

Russian authorities have also confirmed ongoing discussions with other nations to secure fuel imports at competitive prices.

The shortages follow repeated Ukrainian attacks on Russian energy infrastructure, including refineries, fuel depots, and storage terminals. Ukraine says the strikes are intended to weaken Russia’s military logistics and increase pressure on Moscow during the ongoing conflict.

Russian President Vladimir Putin acknowledged that motorists and businesses have experienced difficulties, including fuel queues and limited availability of certain petrol grades, although he described the situation as temporary and under control.

In Crimea, fuel supply pressures have been more severe, with reports of significant increases in gasoline prices after supply routes were disrupted. Local authorities have responded by prioritizing fuel distribution for government agencies responsible for essential services and security.

Meanwhile, Ukrainian President Volodymyr Zelenskyy said the attacks were part of Ukraine’s long-range strategy aimed at targeting Russia’s energy infrastructure, arguing that the shortages demonstrate the growing impact of the conflict on Russia’s domestic economy.

The crisis has also drawn attention to Africa’s expanding refining capacity, particularly Nigeria’s Dangote Refinery, which is currently undergoing an expansion that will significantly increase its production capacity. The refinery has become an increasingly important supplier to international markets as countries seek alternative sources of refined petroleum products.

Other major refining hubs across Africa, including facilities in Algeria, Egypt, Angola, Libya, and South Africa, could also benefit from changing global fuel trade patterns if demand for alternative suppliers continues to grow.

However, analysts note that any future fuel exports from African refiners to Russia would depend on factors such as international sanctions, shipping logistics, insurance arrangements, payment systems, product compatibility, and government approvals.

Headlinenews.news

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img