Trafigura fears for emerging markets
The impact on Africa and Latin America of spiralling energy prices should not be ignored
“Europe can probably afford to pay,” Jeremy Weir, CEO of commodity trading firm Trafigura, told the Financial Times Commodities Global Summit on Tuesday, in reference to spikes in energy prices following Russia’s invasion of Ukraine. “One of the problems is what happens to Africa and Lat[in] Am[erica].” These regions are “a long way from supply routes [and] shipping costs have increased enormously as a result of the conflict”, Weir continues. “We are very concerned about the stock-outs that are going to take place in Africa,” Weir says, noting that many nations in the region are heavily reliant on diesel for power generation and mobility. “We are getting into some very critical periods for t
Also in this section
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies