Global Energy Crunch Intensifies, Fuel Prices Soar, Countries Grapple with Shortages
African economies and Asian nations are bracing for fuel shortages and high costs as the global energy crunch intensifies, with countries implementing measures like WFH and no AC to cope with rising prices and supply issues, partly driven by the Iran conflict.
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African economies brace for fuel shortages as Iran conflict hits energy
Some countries across the continent are imposing fines on people hoarding petrol, or subsidising fuel prices
Read full article →African producers may have energy edge during Iran war, if they can overcome hurdles
The Iran war has cut off a fifth of global oil and LNG supply, handing African producers “a structural advantage” in supplying global markets, although their capacity is hampered by factors beyond the Middle East conflict, according to analysts. “West and North African exports are largely insulated from the conflict, meaning barrels from Nigeria, Angola, Gabon, Algeria and Libya are viewed as lower-risk alternatives,” said Grace Goodrich and Anne-Laure Klein of Energy, Capital & Power, a Cape...
By Dulue Mbachu
Read full article →WFH, No AC, High Fuel Cost: How Countries Are Grappling With Energy Crunch
Asia has been hit hardest. Almost 90% of the oil and gas moving through the strait is headed there, leaving many countries exposed.
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