As the annual Oil Trading and Logistics (OTL) Africa Downstream Week kicks-off in a fortnight, industry synergy will be the crux of the 2018 event where Nigeria would host key players in the global downstream oil and gas industries from October 28th to October 31st at Oriental hotel, Victoria Island, Lagos.
The 12th edition of the conference, with the theme: “Unlocking Value Through Industry Synergy” would congregate 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 event which is widely regarded as the continent’s biggest downstream petroleum event affords participants an avenue to 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.
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 emphasizes integration, technological evolution and the potential of trans-national collaboration aimed at optimizing emerging opportunities inherent in the downstream value-chain which have hitherto been neglected.
This has led experts to posit that cooperation and industry synergy will provide the opportunity to maximise resources and significantly improve returns on investments.
Recent developments in the complex and competitive market have 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. These opportunities increase the need for cooperation and coordination across sectors and borders in order to optimize the potential of the industry.
Operators from more than more than 20 countries are expected to participate at 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 eleven sessions over three days, experts and CEOs of the most important international suppliers, local trading and marketing companies and a range of service providers are scheduled to make presentations.
The annual OTL Africa Downstream Week is the continent’s leading business forum for market insights, emerging opportunities, products’ showcase and recognition of excellence in the African downstream petroleum value-chain. It features a strategic conference, dedicated industry exhibition and the annual OTL Downstream Industry Dinner. It is organised in collaboration with key partners in government and the industry.
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. In addition, business to business meetings are always a key feature, with the range of service providers in the downstream value chain relishing the opportunity to identify and take advantage of products and services they would otherwise not have readily available.