Collaboration In Downstream Sector Tops Oil Trading and Logistics Africa’s Agenda

Stakeholders in the downstream sector of the Nigerian oil and gas industry and other countries will converge on Lagos next week for the 12th Oil Trading and Logistics Africa Downstream Week

The annual conference, according to a statement, brings together operators in the value chain of oil and gas supply, comprising international traders, refining, shipping, marketing, logistics, storage, retail, professional services, government and civil society.

The Chairman, OTL Africa Downstream, Mr Emeka Akabogu, said, “The theme of this year’s event is ‘Unlocking value through industry synergy’. Recent developments in today’s complex and competitive market has shown that across the value chain, opportunities are opening up with increasing demand, unexplored assets, underdeveloped infrastructure and the potential to expand refining and petrochemical capacities.

According to him, these opportunities increase the need for cooperation and coordination across sectors and borders in order to optimise the potential of the industry.

He said, “As African countries increasingly focus on expanding the frontiers of the sector, this renewed consciousness is pushing the margins of investment, indicating a paradigm shift that emphasises integration, technological evolution and the potential of trans-national collaboration aimed at optimising emerging opportunities inherent in the downstream value-chain which have hitherto been neglected.”

He said participants would also deliberate on issues affecting downstream regulatory compliance, regional cooperation for sustainable petroleum infrastructure projects, and strategies to harness opportunities in the West African oil and gas shipping cluster, among others.

Akabogu said, “The OTL Africa Downstream Week seeks to promote the development of efficient markets in downstream petroleum by facilitating an interface between private sector perspectives and government concerns with the aim of achieving an easier environment for doing business on the continent.

“Operators from more than 20 countries are expected to participate in this year’s event, with delegates already confirmed from Africa, Asia, Europe, America and the Middle East. Many more countries are represented through organisations which will be showcasing products at the exhibition.

“With a total of 11 sessions over three days, experts and the CEOs of the most important international suppliers, local trading and marketing companies and a range of service providers are scheduled to make presentations.”

Source: Punch