OTL to spur collaborations as global downstream players converge

The 12th Oil Trading and Logistics (OTL) Africa Downstream Week will promote industry synergy as Nigeria hosts global downstream oil players.

The continent’s biggest downstream petroleum event will 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, according to a statement by the organisers..

With the theme: “Unlocking Value Through Industry Synergy”, the conference is slated for October 28 to 31 in Lagos.The statement signed by the Chairman, OTL Africa Downstream, Emeka Akabogu, noted that: “Recent developments in today’s 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.”As African countries increasingly focus on expanding the frontiers of the sector, this renewed consciousness, the organisers said, was 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.

The statement added: “This leads experts to posit that cooperation and industry synergy will provide the opportunity to maximise resources and significantly improve returns on investments.

“Participants will 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.

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, the OTL added.