Oil production plays an important role in the economy of many African countries. The chart shows oil rents as a percentage of gross domestic product (GDP) for the nine African nations most reliant on it, Our World in Data reports.
The declaration of force majeure at Libya’s Zawiya Refinery by Libya’s National Oil Corporation on December 15 has put plans to boost crude production in doubt and raised concerns over NOC's ability to meet its oil export obligations.
If Putin wants to quickly develop Port Sudan as an alternative to Russia's naval base in Syria, he may need to finally pick a side and align with the SAF, who control the area. Meanwhile, Russia is already landing military aircraft in Libya.
Libya — a country marked by years of political instability and economic chaos — has the opportunity to transform its economy through its vast reserves of critical minerals.
Leading western banks JPMorgan Chase and HSBC reportedly unwittingly processed payments for companies linked to Russian warlord Yevgeny Prigozhin, the late leader of the Wagner Group Private Military Company.