Because of their lack of oil refineries, African countries become vulnerable to fluctuations on global markets
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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
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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
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