Ivory Coast May Soon Face Fuel Shortages, Industry Group Warns Its Members
Crude oil supply problems at the Societe Ivoirienne de Raffinage "could cause a petrol and gas shortage very soon," according to the National Federation of Industries and Services in a letter dated yesterday and obtained by Bloomberg.
The industry group urged its members in the letter "to take all necessary measures to prepare for this threat."
The European Union on Jan. 14 banned transactions between the bloc and several industries in Ivory Coast, including the national oil company Petroci in an attempt to starve incumbent president Laurent Gbagbo of funds.
The EU sanctions could deprive the refinery of money needed to import crude oil and expose it to "what could be a slow disintegration," Fadika Kassoum, director of the national oil company, told Reuters in a Jan. 21 interview.
Gbagbo is under international pressure to cede power after losing disputed Nov. 28 elections. The United Nations, the U.S. and the African Union recognize his rival Alassane Ouattara as president.
To contact the reporter on this story: Pauline Bax in Abidjan via Accra at ebowers1@bloomberg.net.
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.
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