Browsing: Impact of Russia-UKraine war on Africa energy industry

African Oil & Gas
  • The Russian invasion of Ukraine has proved highly disruptive to world energy markets.
  • There is still a distance between Africa and the rest of the world in terms of what the continent can do to establish closer ties to energy markets in Europe and elsewhere.
  • Now is the time to offer tax incentives, fast-track projects, show more transparency in processes, and do everything possible to minimize investor risk.

It’s undeniable that the Russian invasion of Ukraine proved highly disruptive to world energy markets. This geopolitical clash led to the imposition of Western sanctions on the export of Russian oil and fuel and the imposition of a price cap on Russian crude by the G7 group.

It also led to the redirection of world oil trade flows. Asian countries such as China and India, for example, began absorbing considerably more Russian oil and fuel than they had done previously, and many …