Theme: “Positioning African Petroleum for Global development and Value Addition” Summary of Opening Events by Mohammadu Buhari, President, Commander-in- Chief of the Armed Forces, Federal Republic of Nigeria, represented by Prof. Yemi Osinbajo, SAN GCON, Vice President, Federal Republic of Nigeria. Overview - CAPE series is the largest and the most influential Oil and Gas event in Africa Established in 2003 by the African Petroleum Producers Association (APPA) The event runs concurrently with the Meetings of APPA Council of Ministers and Forum of Chief Executive Officers of African National Oil Companies.
CAPE VI is organised by the Ministry of Petroleum Resources, Nigeria and managed by AME Trade Ltd. UK.
CAPE VI is attended by delegations of the highest rank from the Eighteen Petroleum producing members of APPA as well as other emerging producers in Africa.
The three day event is expected to future speeches, discussions, exhibitions and series of social functions to allow participants to network in a convivial atmosphere aiming at improving exploration, distribution, production, refining, finance and other support services of oil and gas.
The opening remarks for CAPE VI were made by Dan Coberman, Director, AME Trade, Consultants to CAPE VI after observing due protocol. He then thanked the host country, Nigeria and encouraged all participants to seize the wonderful opportunity to improve the
contribution of oil and gas sector towards Africa’s growth and development amidst declining oil prices.
Goodwill Messages: Goodwill messages were presented by Platinum level Sponsors of the events including Messrs Tony Cole (Sahara Group), Clay Neff (Chevron Nigeria Limited), Nolan O’Neal (Exxon Mobil Upstream Companies in Nigeria), Nicolas Terraz (Total E & P Nigeria) and Osagie (Shell Company Nigeria). All the messages revolved around:
- The increasing difficulties being faced in developing oil and gas sector by member countries
- That there are some opportunities towards growth amidst these challenges
- The opportunity of the assembly is for soul searching to mitigate the increasing problems and risk in the up and down streams and how to improve the lot of the stakeholders
- The need for the gathering to discuss, collaborate and partner on a number of issues to strengthen the relationship between member countries and fight headon the monster eating up the fortunes of oil and gas in beneficiary countries.
- The very need to renew relationship and fight for the rights of member countries in the global business environment.
Executive Secretary APPA: In his short speech, Mr Mahaman Laouan Gaya reiterated the fact the Nigeria is the first petroleum producing country in Africa. That the forum provides an opportunity for the review of oil and gas in the global economy. While thanking participants, he further spoke about the need for APPA members to work hard towards grapping giant strides in the development of oil and gas as the association reaches its third decade milestone.
The Honourable Minister of State for Petroleum in Nigeria and current President, APPA: Dr Ibe Kachukwu in his highly oratory opening remarks welcomed members and other guest while expressing the country’s delight in hosting the event at a critical time when oil price volatility becomes a major concern universally. According to him this situation is causing huge social dislocation and confusion to investors in the sector. On this note, he called on the Vice President to deliver his speech and as well declare the event open.
The Vice President, Prof Osinbajo
The Vice President, Prof Yemi Osinbajo GCON in his short speech he appreciated that there is great challenges currently in the sector occasioned by drop in crude oil prices and declining profits with huge responsibilities on APPA to mitigate the effects of these challenges on member countries. To do this he suggested a harmonization of the legal frame work in member countries; improvement in investment decisions as well as the inevitable utilization of gas for energy. He further suggested the need for APPA to establish a gas flare control mechanism to drastically reduce greenhouse emission which has adversely contributed to climate change within member states with devastating effects. Stating that gas flare-out policies must be enforced to reduce climate change effects.
The future of African Oil & Gas is promising, however to achieve maximum economic benefits of the sector APPA member countries must avoid being tied to the Apron string of the global markets and take the lead in ensuring growth and stability.
