AOP Animations – Oil & Gas Trading
One of the few advantages of the drop in oil and gas prices is the ability to stockpile products while the goods are cheap. However, most African countries have not developed storage infrastructure. Despite Africa’s position as a lead oil producer, it has very limited refining capacity, leading to many producers, such as Angola and Nigeria, exporting crude oil and importing refined oil at an additional cost. While creating short-term challenges, the gap leaves room for development of refineries and storage facilities, as well as progress in commodities exchanges.