Because of their lack of oil refineries, African countries become vulnerable to fluctuations on global markets
In the absence of mechanisms to recoup investment into cleaner fuels, refineries may be faced with tough decisions
Sapref declares force majeure, shutting down 35% of SA’s fuel supply
As the demand for oil shrinks and prices collapse, Africa’s petro states — the likes of Angola, Nigeria, Egypt and Equatorial Guinea — will be left with massive holes in their budgets