OTL Africa 2019 builds momentum on ‘Innovation and Technology’ for Downstream Petroleum Industry
By Ndubuisi Micheal Obineme
Over thirteen years, the Oil Trading & Logistics Africa Downstream Week have been creating a platform where industry players, government, investors come together to review relevant operations, business opportunities, policies, gain new insights, forge new partnerships, showcase brands, products and services in the entire value-chain of the Downstream Petroleum industry.
At the OTL Africa 2019, Chairman, OTL Africa Downstream, Mr. Emeka Akabogu said that there have been a paradigm shift in the industry as operators in the downstream business are moving towards a place of increased relevance, visibility, organisation and strategic positioning.
According to him, the African market remains one of the highest growth regions in the world with consumption witnessing year-on-year increase. Operators in key regions realise this and are keen on exploring all opportunities.
“Competition is central to doing this, which had informed the theme for this year’s event – “Achieving Downstream Competitiveness through Growth, Innovation and Technology”. With the clear realisation that patronage-based markets are not sustainable and that the future lies in opening of petroleum markets to price and value competition, the most important challenge to operators will be capacity to compete at the highest level.
“This will be driven by innovation and technology at both private and government levels. The theme will see discussions during the week focused on the range of emerging opportunities inherent in the downstream value-chain which have hitherto witnessed sub-optimal focus.
“This year’s event will further empower oil and gas companies to harness the economic potential of this industry. From clean fuels to distribution infrastructure to automation and digital transformation, focus areas have been carefully selected to feed into the important operational areas of organisations at this year’s event.
“Refining, LPG, lubricants, shipping, technology and crucial policy issues for the future of the market will be up for consideration,” he said.
The 13th Oil Trading and Logistics Africa Downstream Week has become a hub for Africa’s destination for downstream solutions.