Opinion

Africa’s Gasoline Imports a Bright Spot for European Exporters


As gasoline's bullish ride fades next year, Africa's gasoline imports will be a bright spot for European exporters, according to ESAI Energy's recently published Africa Watch. In 2018, sub-Saharan Africa is set to import more gasoline from Europe as demand increases. This increase in imports will come on top of two consecutive years of expanding gasoline deficits, especially in Nigeria, where refineries have run far below capacity.

The Africa Watch report describes how Sub-Saharan Africa's import requirement are set to rise by 20,000 b/d, to 410,000 b/d, in 2018, which will draw more barrels from Europe.  Gasoline demand in Nigeria will rise by 45,000 b/d this year and by 20,000 b/d in 2018, which will bring Nigeria's demand up to 255,000 b/d. This increase comes despite higher retail gasoline prices. As a result, Nigeria's gasoline imports are set to rise again next year after rising 40,000 b/d this year, deepening the regional deficit.

“Nigeria's higher gasoline consumption has already provided bullish support for the European gasoline market this year.” said Chris Cote, energy market analyst at ESAI Energy. “Next year, Nigeria and the rest of the region's gasoline imports will rise again, making the African market a bright spot for European exporters as other prospects fade.”

About ESAI Energy LLC:  Energy Security Analysis, Inc. (ESAI), founded in 1984, is a global energy consulting company that provides market research and strategic advisory services. ESAI Energy LLC provides outlooks ranging from 1-week to 25-years and a proprietary framework for interpreting and prioritizing empirical market data and industry information. ESAI Energy's detailed analysis of energy markets identify and explain future market trends and opportunities for energy and energy dependent companies.


Visit source site

https://esaienergy.com/?upid=10035765&ebid=1420482...

ESAI EnergyAfricaGasolineImportseuropeexportssub-saharanNigeria

More items from oilvoice


China Becomes World’s Second Largest LNG Importer, Behind Japan

Source: GIIGNL LNG reports (2010-16), Global Trade Tracker export-import trade statistics (2017), and IHS Markit China surpassed South Korea to become the world's second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS Markit and official Chinese government s ...

OilVoice Press - OilVoice


Posted 1 day agoOpinion > EIAEnergy Information Administration EIAChina +5

Investment of $97bn on Top Ten Offshore Oil Projects to Add Over 1.6 Million Barrels Per Day by 2025, Says GlobalData

Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData , a leading data and analytics company. These ten projects, selected from 236 upcoming offshore projects globally, will contr ...

OilVoice Press - OilVoice


Posted 1 day agoPress > GlobalDataOffshoreOil +2

Norway Leading the Oilfield Service Comeback

In 2015 and 2016 we saw record low levels of offshore volumes sanctioned, which effectively is hurting oilfield service companies' backlog. With the cost cuts E&P players made during the downturn, coupled with the recent increase in oil prices, we now see a lot of offshore projects on a global lev ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > NorwayRystad EnergyOffshore +3

S&P Global Platts Deploys Blockchain for Collation of Fujairah Oil Inventory Data

S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, has announced that it is deploying a proprietary, secure Blockchain network to allow market participants to submit weekly inventory oil storage data to Fujairah Oil Indust ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > S&P Global PlattsBlockchainFujairah +2

Westwood Highlights Exploration Hits & Misses of 2017

  A new report from Westwood Global Energy Group shows better oil and gas exploration performance in 2017 than 2016 with discovered volumes, success rates and finding costs all improving. High impact oil & gas exploration remains challenged, however, with activity levels ...

OilVoice Press - OilVoice


Posted 2 days agoPress > westwood global energy groupexplorationMexico +1
All posts from oilvoice