The aerial photo, taken on April 1, 2024, shows the Kingfisher Oil Field run by China National Offshore Oil Corporation (CNOOC) in Kikube, Uganda.
A silent but significant change is occurring in Africa's oil and gas logistics sector. By 2030, the continent is expected to contribute approximately 12% of the world's new liquid storage capacity. This expansion is fueled by several factors: a fast-growing population, increasing industrialisation, and a corresponding rise in the consumption of both refined petroleum products and chemicals.
This capacity growth transcends mere fulfillment of domestic requirements, indicating a more profound transformation. Nations are strategically investing not only to safeguard their own supply chains but also to establish themselves as key regional export centers and to stabilise supply amid global oil-market fluctuations.
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