Can Africa Become An Oil Products’ Exporter?
Gibson reports that high refining margins have spurred ongoing refining projects across Africa, with national security interests as a driver. The Dangote refinery aims to double capacity to 1.4mbd by 2029, but delays and financing uncertainties cast doubt on completion. Several other projects, including in Kenya, Tanzania, Côte d'Ivoire, Angola, and South Africa, are in early stages with no final investment decisions taken.
Why it matters: The slow progress of African refining projects affects global energy trade flows and shipping demand, as reliance on imports from India and the Middle East persists.