Gulf Crisis Amplifies Focus on African Oil Supply. Lagos, Nigeria — 2026-03-19 Lead Paragraph The ongoing tensions in the Middle East have caused a stir in global energy markets, prompting buyers to seek alternative sources for oil. African oil, which doesn’t have to navigate the vulnerable Strait of Hormuz, is gaining attention.
However, years of limited investment in African oil and gas projects have hindered the continent’s ability to increase production to meet global demand.
The Middle East’s oil supply disruptions have led to a surge in demand for African oil, which, unlike Middle Eastern crude, doesn’t traverse the strategically sensitive Strait of Hormuz. This advantage has, however, not been fully realized due to constrained investment in African oil and gas projects.
For over a decade, European lenders have notably reduced financing for such projects in Africa, citing climate concerns.
This decision has delayed or impacted projects in countries such as Uganda, Mozambique, and Angola. Carole Nakhle, an energy expert and CEO of Crystol Energy, has commented on the situation, emphasizing the need for Africa to attract investment to reshape global crude dynamics.
The Gulf crisis has also had a significant impact on fertilizer exports.
The region supplies nearly 35% of global urea exports and 20-30% of ammonia. With up to 30% of the global fertilizer trade moving through the Strait of Hormuz, which is now effectively closed, the impact has been immediate.
Urea prices have surged 19% to over $590 a ton and continue to climb.
Africa’s structural dependence on imported fertilizer poses a threat to food systems and food security.
In Zimbabwe, a tobacco boom is driving increased production, with the country expecting to sell a record 400 million kilograms of the crop this year.
However, this success has come at an environmental cost, with at least 60,000 hectares of forest destroyed annually to cure the crop.
The implications of the Gulf crisis on global energy markets and African economies are profound.
As the situation evolves, further details and potential solutions are expected to emerge.
