The war in the Middle East draws attention to African oil [Business Africa]

 

Tensions in the Middle East have sent shockwaves through global energy markets, prompting buyers to look to alternative sources of supply.

Unlike crude from the Middle East, much of Africa's oil does not need to transit through vulnerable corridors such as the Strait of Hormuz , where events like war can paralyze shipping.

But years of limited investment have prevented African producers from increasing their output sufficiently and quickly enough to fill global supply gaps. For more than a decade, European lenders, in particular, have hampered financing for oil and gas projects in Africa, citing climate concerns.

This decision has harmed or severely delayed projects in Uganda , Mozambique , Angola , among other countries.

Carole Nakhle is an energy expert and CEO of Crystal Energy . She joins the show to share her thoughts on how Africa can attract investment and redefine the global dynamics of crude oil.

Agriculture is preparing for the impact on fertilizer exports

The Gulf supplies nearly 35% of global urea exports and 20 to 30% of ammonia. Up to 30% of the world's fertilizer trade passes through the Strait of Hormuz, which is now effectively closed. This corridor is also a vital transit route for natural gas, a crucial input for fertilizer production.

The impact was immediate. Urea prices jumped 19% to over $590 per ton and continue to climb. Given Africa's structural dependence on imported fertilizers, the Gulf crisis poses a threat to food systems and food security.

Zimbabwe: The rise of tobacco farming is driving deforestation

The increase in the number of producers, the expansion of cultivated areas, and improved quality control are driving the tobacco boom in Zimbabwe . This year, the country expects to sell a record 400 million kilograms of this crop.

However, the success of tobacco has had detrimental consequences for the environment. At least 60,000 hectares of forest are destroyed each year as farmers cut down trees to dry their harvest.