Despite growing demand for petroleum products, Africa has remained a primary export of crude oil while its economy suffers from import of the white products.
Kragha, in his presentation on “Africa Refining: Regional Sufficiency and Global Energy Transition,” said there was a need for coordination across the continent. He also called for tansparency and forward visibility around medium to long-term regulatory frameworks as well as coordination across key sectoral Ministries to support investors’ business plans.Insisting that the rising demand in Africa requires significant investment in storage and distribution infrastructure, Kragha said efficient regional infrastructure would lead to economies of scale.
Kragha called for a long-term carbon mitigation strategies, saying it has serious implications for the future of refining and finance.