Portugal Reports Strong Fuel Reserves Due to Diverse Supplier Network
What happened
Portugal's Energy Minister stated that the country currently holds 92 days of strategic liquid fuel reserves, surpassing the 90-day figure recommended by international organizations. The country also maintains an 18% surplus in its jet fuel stocks, even after accounting for a 3% rise in consumption by the end of August.
From theportugalnews.com
Why it matters
The Minister noted that Portugal's supply system is stable because it relies on a diverse range of suppliers situated away from areas of conflict or instability. These suppliers include Nigeria, Algeria, and the United States.
From theportugalnews.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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The entities involved
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Nigeria
sovereign state in West Africa
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Portugal
country in Southwestern Europe
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Algeria
country in North Africa
Related events
- Regional wars are exerting pressure on global supply chains, redrawing geopolitical fault lines involving multiple continents.
- Trade in goods between Germany and EU nations is being impacted by severe supply-chain disruptions caused by ongoing conflicts.
- Foreign companies, including Shoprite Group, Uber, and GlaxoSmithKline, are facing a tough operating environment in Nigeria due to market conditions, foreign exchange scarcity, and competition.
- Procurement issues are observed in African markets.
- South Africa and Algeria sought to grow trade and build partnerships within Africa in 2016.