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Africa's oil lacks impact on Middle Eastern supplies
Africa, despite possessing extensive oil resources, faces difficulties in compensating for the global oil supplies coming from the Middle East due to weak production and refining capacities. Analyses indicate that oil fields in Nigeria, Angola, and Algeria have been experiencing long-term declines in production as a result of aging fields and limited investments, coupled with challenges such as oil theft and pipeline sabotage, which reduce the ability to rapidly increase output. Although some African countries benefit from geographic advantages that could enable them to export oil via routes outside the Strait of Hormuz, insufficient investments and aging fields prevent them from making a significant impact on the global market. Additionally, inadequate refining capabilities across the continent place pressure on markets, as importing refined products does not cover the severe shortage of supplies. Experts emphasize that ensuring energy security in Africa requires massive investments to boost production and modernize infrastructure, and that diversifying sources alone does not provide a comprehensive solution to global supply crises.
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