Africa’s refining gaps fuel supply, economic crisis

Africa’s refining gaps fuel supply, economic crisis

WIEN DIGEST
The inability of African countries to develop commensurate refining capacity to meet internal fuel consumption is responsible for the myriad of economic woes associated with reliance of mass importation of petroleum products. Women in Energy Network and other industry groups who spoke at the last sessions of the just concluded Oil Trading and Logistics (OTL) Africa Downstream Week in Lagos pointed at the inverse relationship between Africa’s rising fuel demand and lowering capacity to process crude oil and condensate into consumable products. Besides the mismatch between demand and refining, the panelists observed that reliance on imported petroleum products into the economy has become a major cost driver for players, government and consumers in the domestic market. It would be recalled that one of the key disputes in the ongoing efforts…
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OTL 2022: Speakers advocate all-gender capacity in developing the economy

OTL 2022: Speakers advocate all-gender capacity in developing the economy

WIEN DIGEST
Limited access to good education and venture capital, gender and cultural bias, and social stereotype form key inhibitors to proportionate female representation in the petroleum industry. And until workplace gender imbalances are addressed, the current effort for the growth and development of the sector will remain an idle fancy. These form key conclusions of the panelists who spoke on Tuesday, the second day of the on-going African Downstream Week organized by Oil Trading and Logistic (OTL) in Lagos. The panel discussion sought to drive gender equality and diversification in the industry which currently dominated by male professionals; and the goal of the policy debate is to harness full human capital to promote the growth and development of oil and gas industry in Nigeria and Africa. President of WIEN, Mrs Funmi…
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