1st from left, Mr. Adetunji Oyebanji, Chairman of OTL Africa Downstream Week 2022
-By Felix Douglas
In his welcome address at the Opening Ceremony of Oil Trading and Logistics (OTL), Africa Downstream Week, Mr. Adetunji Oyebanji, Chairman Advisory Board and Managing Director of 11 Plc told participants that the downstream event has remained active over the years, despite strong industry headwinds that have seen some organisations scale down participation. “But we have remained creative, bullish and consistent in leading advocacy for industry and maintaining a strong platform for individuals, brands and the industry as a whole to promote business, policy and operations.”
According to the Chairman of OTL: “This has attracted new collaborations, more strategic engagement and a wider acceptance of the OTL brand as the centrepiece and melting pot for downstream, repositioning it for the long-term future.”
OTL 2022 continues the post-Covid rebound that started in 2021. More than ever before, energy transition is in focus as the world tries to clean up its energy consumption habits and companies retool to remain relevant in the changing energy dynamics, Oyebanji added.”
“How well have countries on the continent embraced these realities? Are they even the reality of the downstream energy value chain in Africa? Concurrently with issues of global energy transition, countries are also dealing with implementation of changes to legal regimes. In Nigeria for instance, the Petroleum Industry Act has come with a raft of changes, with activity across the industry largely in a flux. There’s also a great deal of uncertainty in the industry, with many questions begging for answers.”
“It is in the context of all these that we are poised for this year’s event with the theme – Regulating Downstream Energy Transition in Dynamic Times. The sessions reflect the crucial issues which the industry must address, and seek to find a path to clarity, increased investment and confidence. Effective regulation is key to policy implementation, and engenders stakeholder engagement and unanimity.”
Oyebanji submitted that fuel supply dynamics, refining, storage and distribution are also in focus this year. This is in addition to operations’ focused sessions on gas and lubricants which have opened great investment windows in the last few years. “We are also very mindful of workplace diversity and safety, and have special sessions dedicated to these important areas.”
OTL is normally reflective of the times. “At this year’s event we witness a cautious optimism and gradual return of the industry to full activity. We are therefore thankful to those who have despite the odds, invested time and resources to participate in the event this year. We are particularly grateful to our sponsors and exhibitors who have ensured that we have an event. We know that it is in times like these that strength of the industry is made manifest.
So, we salute those organisations that have stood out boldly and are poised to lead downstream energy going forward.”
The OTL Chairman thanked companies that sponsored the event and appeal for continuous patronage of the conference where salient issues that concern the sector are addressed by stakeholders and players of the downstream.
“We believe that with increased participation, certainty and confidence will grow. We therefore welcome you to this year’s event and invite you to take advantage of the sessions, the people and the events to deepen relationships and expand value.”
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