Energy Buyers Shift Focus to Africa Amid Rising Middle East Tensions
The escalating conflict in the Middle East is prompting a significant shift in oil procurement strategies among European and Asian buyers, who are increasingly turning to African oil-producing nations. These countries not only offer lower insurance costs but also promise more consistent delivery timelines compared to the high-risk regions of the Middle East. According to industry analysts, leading African energy players—namely Nigeria, Libya, Angola, Gabon, Mozambique, Namibia, and Tanzania—are being regarded as safer…