Over the years the oil and gas industry has gone through crisis after crisis, but it has been able to recover and reinvent itself through innovations.
Therefore as the world unlocks its doors for businesses post-COVID-19, one of the major factors to be considered in doing businesses is the new normal brought about by the current global pandemic.
The pandemic it is said has for the past three months brought the oil industry to it’s kneels occasioned by low prices and poor market demand.
It is in the light of this that Financial Energy Review, a monthly oil, gas and power publication with daily online energy news updates is collaborating with LEADGRID Series to organise a Webinar titled “Downstream Petroleum Market Deregulation: Prospective Impact on Nigeria Economy Post COVID-19” and to X-ray some of these new norms in the oil and gas industry particularly the Downstream that will come into play post covid-19.
The talkshop is billed for Thursday 4th June, 2020 by 10.00 am. Highly esteemed speakers and panelists will include Professor Wumi Iledare, a Professor of Petroleum Economics and Policy Research and the Director of Energy Information Division of the Center for Energy Studies.
He is Ghana National Petroleum Corporation (GNPC) Research Chair, UCC Oil and Gas, Ghana. Prof. Iledare will as one of the panelist be the moderator of the online seminar.
Also billed to speak is Mr. Adetunji Oyebanji, Chairman of Major Oil Marketers Association of Nigeria (MOMAN). He is also the Managing Director of 11 Plc (Formerly Mobil Oil Nigeria plc), his career in the downstream spans almost 4 decade.
From the financial institution, is Ms. Oluwatoyin Aina. She is the Head, Downstream, First Bank of Nigeria Limited. Aina is an astute Banking/Finance professional with over 19 years’ experience,adept at deal origination to execution across the Oil & Gas value chain.
She manages the Banks Energy transactions covering most of the Bank’s Upstream portfolio. Under her purview, transactions worth billions of US Dollars were consummated via bilateral and syndicated debt finance for the acquisition of on-shore/off-shore
producing assets divested by IOCs like Shell, Chevron, Agip and ConocoPhillips in Nigeria.
Another speaker is Mr. Ademola Ogunbanjo, General Manager, Business Support Group, Oando Plc. Ogunbanjo has the overall responsibility for Human Capital Management, Supply Chain and other support functions in Oando. With over 20 years of diverse work experience in organisation design and development change.
The speakers at the talkshop will deal extensively with the following highlights which include
- The impact of covid-19 on the downstream in the past three months.
*How can the sector be restructured to grow?
*Is it possible to deregulate the downstream without proper legislative framework and how will this address the present infrastructural deficit.
*The roles financial institutions particularly the banks should play in order to assist the sector and the operators in post covid-19.
And the steps operators and the government should take in order to ensure that the downstream contribute a greater percentage to the nation’s GDP and support Forex earning.