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Major changes and hard decisions facing the downstream oil industry in Africa are high on the agenda of the African Refiners and Distributors Association (ARA), which will hold its thirteenth yearly conference, in Cape Town, from March 12 to 16.
Amid oil companies’ divestment of assets and the emergence of international oil traders and foreign companies willing to invest in the infrastructure involved in the African downstream industry, members of the ARA are mapping out a road ahead in which conditions could change radically.
The conference, entitled ‘Moving Forward’, is held yearly under the auspices of the ARA, which is a mouthpiece of the African downstream industry.
“The conference is aptly titled. Members are struggling to find the finances to upgrade their refineries, both for clean fuels and the changing mix of demand, particularly for the marine market, after regulations for shipping change in 2020. To overcome this, the ARA has been proactive in laying down a clean fuels policy to achieve the clean air that the continent demands,” ARA executive secretary Joel Dervain said in a statement.
Further, he said the African refinery industry had to justify further and new investment, through economies of scale, logistic advantages and the longer-term socioeconomic benefits of the refining industry through job creation, economic multiplier effects and security of supply.
“The African oil distribution industry is working hard to meet global safety, engineering and environmental standards to avoid injury and fatalities both in traffic and plant accidents,” he noted. source: miningweekly.com