“What you need in order to compete is to build a large plant with access to competitively priced crude... because the moment you put your barrels on the water for other African markets you are competing with global traders,” he added.
A further factor threatening projects is the sharp increase in fuel exports from the US to Africa. A ship broker active in West Africa said that US fuel flows to the Gulf of Guinea had risen to an average of around 100 000 tons a month from around 20 000 tons last year. Jet fuel imports from Venezuela have also increased. – Reuters