2021 FIN INTERNATIONAL CONFERENCE ON OIL AND GAS

THEME: THE FUTURE OF OIL AND GAS IN A DIGITAL ECONOMY

The Conference will be one of the largest Oil and Gas conferences in the continent. This is because all eyes are now on Africa as it currently hosts some of the fastest growing oil and gas multinational companies in the world. The entire continent is set for a huge economic transformation in the gas sector despite the global economic contraption as a result of shocks from the COVID-19 pandemic. It will be an exposé of latest inventions in oil and gas technology. It will also provide an opportunity for the African countries to tweak oil exploration technology for accelerated regional growth amidst the challenges of global economic meltdown.

According to a post COVID-19 report released by the African Union, “Across Africa, although 16 countries have refineries, the majority of African produced crude oil (75%) is exported and the majority of petroleum products used in Africa are imported. Indeed, Africa is alone in continents of the world as a net exporter of crude oil, but a net importer of petroleum products”.

As global economy shrinks following the post COVID-19 economic crises, so too is oil demand. The measures to address the COVID-19 pandemic will create an economic slowdown and a fall in global oil demand.

The COVID-19 global economic recovery speed will be very hard to predict as hope for a quick bounce back seem to be diminishing. Likewise, OPEC will thinker with supply schedule as additional 10% oil production cuts in 2021 have been agreed by DoC countries at a combined level of 5.8mb/d.

The situation demands that an urgent decision and novel strategy be adopted by oil producing countries in Africa to cushion the shocks arising from the global oil cut and formulate measure for geometric revenue increase in the continent.

It is expected that at the end of the event, the continent will come up with the following measures:

  • Maximise the local value additions in the oil and gas chain.
  • Increase investment in refining facilities.
  • Increasing cross border trading and investment in infrastructure.
  • Dominate the continent with refined oil and gas product.
  • Seek greater collaboration in inter-continental trade.
  • Develop greater capacity among players within the continent in the areas of technology, refining capacity and value chain.

The event is expected to be declared open by His Excellency Matamela Cyril Ramaphosa, President of South Africa. Other expected dignitaries include: Dr. Akinwumi Adeshina, President, African Development Bank (AfDB); Timiprye Sylva, Minister of State Petroleum Resources of Nigeria, Mele Kyari, Group Managing Director (GMD), Nigeria National Petroleum Corporation (NNPC), Diamantino Azevedo, Minister of Petroleum of Angola, Hon. Mohamed Arkab, Minister of Energy, Algeria and other ministers of Petroleum and Energy in Africa. 

The Conference will provide an opportunity for the interchange of ideas on latest oil and gas technology, high-level networking, and most importantly, one-to-one business meetings between decision makers and top-tier solution providers and players in the oil and gas eco-system. 

The conference will be segmented to accommodate discussions in the sectors:

  • Upstream
  • Midstream
  • Downstream
  • Offshore operations
  • Retail markets
  • International trade.

Expected at the event are participants from diverse countries. There will also be an exhibition area where oil and gas inventions, software demonstrations, gas exploration and processing equipment, safety appurtenances by oil servicing companies and other oil exploration apparatus will be on display.

The high point of the event will be the FIN Oil and Gas dinner where deserving oil companies, policy makers and entrepreneurs including the President of South Africa will be decorated with various Awards and Certificates of Honour. The Award is supported by Forbes Afrique and its Managing Director will be on hand to hand over the Awards.

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