Friday, 19th August 2022
<To guardian.ng
Search

Crude oil price fluctuations expose Africa’s fossil fuel dependence

Africa's abundant sunshine is ideal for renewable energy production. But the continent relies heavily on crude oil. Experts warn that the economy will continue to suffer if governments don't wean themselves off of oil.

Related

14 Jun
Senegalese President Macky Sall, who is the current chair of the African Union, granted an interview to FRANCE 24 and RFI in Paris. He discussed his meeting with Russian leader Vladimir Putin last week in Sochi, which focused on the issue of grain supplies stuck in Ukrainian ports. Sall said he stressed to Putin that Africa is suffering from the war in Ukraine, as it already faces a shortage of grain and fertiliser. He warned of a possible "famine" on the continent if African farmers have insufficient fertiliser for their crops.
15 Jun
With fuel price inflation causing such alarm in South Africa that the government and central bank have been taking action to soften the impact on consumers, Fezile Dhlamini proposes an alternative solution.
17 Jun
The German government is planning to expand the powers of its antitrust authorities. The move comes after recent measures to compensate for rising gasoline prices have turned into a profit windfall for oil companies.
15 Jun
Wall Street had one of its worst days in recent weeks on Monday as a worse-than-expected US inflation figure last Friday fuelled concern about more aggressive rate hikes to come from the Federal Reserve. Cryptocurrencies also continued to tank after a lender froze withdrawals. Plus, as Europe looks to bolster the continent's energy security, France's TotalEnergies signs a deal with Qatar on a major gas field project.
16 Jun
Inflation is a problem everywhere but in Turkey it is currently a staggering 73.5%, with no end in sight. Still, President Erdogan insists on maintaining low interest rates.
18 Jun
In a letter to major oil companies, US President Joe Biden warned he was ready to take steps to provide Americans with "affordable" energy supply.
16 Jun
"What a special moment," European Commission chief Ursula von der Leyen said after signing the gas memorandum. Europe is looking for alternate sources of energy since Russia’s invasion of Ukraine.
16 Jun
Tax revenues could make a vital contribution to the development of African countries. But the untapped informal sector, also known as the shadow economy, and inadequate collection of taxes stand in the way.
20 Jun
Find these stories and much more when you grab a copy of The Guardian on Tuesday.
22 Jun
A new deal paves the way for the development of the first African-owned Covid-19 vaccines. Cape Town-based Afrigen is working with a Belgian biotech company to develop mRNA shots. Also, Kenya has no reproductive health legislation but the public is going to give its input on a regional bill that could make a big difference to sexual health services. Finally, in football news, Senegal's Sadio Mané moves to Bayern Munich.
23 Jun
A new deal paves the way for the development of the first African-owned Covid-19 vaccines. Cape Town-based Afrigen is working with a Belgian biotech company to develop mRNA shots. Also, Kenya has no reproductive health legislation but the public is going to give its input on a regional bill that could make a big difference to sexual health services. Finally, in football news, Senegal's Sadio Mané is moving from Liverpool to Bayern Munich.
25 Jun
German pharmaceutical company BioNTech has begun construction of an COVID-19 vaccine plant in Rwanda. When completed, it will be the first mRNA vaccine plant in Africa.