Indigenous and global stakeholders in the downstream petroleum industry will from today converge in Nigeria for the 13th Oil Trading and Logistics (OTL) Africa Downstream Week with focus on the evolving impact of Innovation and Technology on efficiency and margins in downstream operations.
A statement by OTL Africa Downstream Week Chairman, Mr. Emeka Akabogu, said the annual conference, assembles 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 theme for this year’s event is “Growth, Innovation and Technology”. With a digital innovation sweeping through the industry, countless opportunities are opening up and industry operators are increasingly turning their attention to the impact of technology and digitalization to improve value-chain decision making, enhance safety, as well as focus on margin growth and profitability.
However, there is also the need to coordinate integrationof technology across the value chain due to its unpredictability and in order to optimize the potentials therein.
Some of the issues that will take front burner include; automation, digital transformation and retail margins at the last mile. Others are; policy, regulation, pricing, markets and the future of downstream petroleum in Nigeria; clean fuels, meters and measures.
Participants will also engage in discussions on issues concerning the Impact of the Dangote Refinery on the West African petroleum products market; opportunities and market considerations for LPG trading; and expanding human resource capabilities in downstream oil & gas operations among others.