PREAMBLE
1. The threerd Version of the Worldwide Vitality, Oil&Gasoline Summit, organized by the African Peace Group, was held on the Hilton Resort in Windhoek, Namibia, from October 22nd to 30th, 2024. The summit introduced collectively policymakers, regulators, trade representatives from vitality, oil, and fuel corporations, and lecturers. Keynote addresses and shows had been delivered by trade regulators, operators, specialists, and students, who addressed the summit’s central themes. Distinguished audio system included Engr. Farouk Ahmed, Chief Govt of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA); Hon. Justice A. Galadima (Rtd.), Chairman of the African Peace Group; Prof. Anthony Adegbulugbe, Chairman of Inexperienced Vitality Worldwide Ltd; HRH Sir David Serena Dokubo, Director at Inexperienced Vitality Worldwide Ltd; Prof. Jude Osakwe from the College of Namibia; Mr. Aggrey Ashaba, Common Supervisor at Alliad Uganda; Mr. Wesley Musinga; Eva Asalirwa from Alliad Uganda; Ms. Abimbola Okoya, Founding father of Fundamental Training Africa; Mr. Daniel Tuyoleni, CEO of Thoughts Area Seek the advice of, Namibia; M. Jinot Razafimamonjy – Director of Hydrocarbons, Ministry of Vitality and Hydrocarbons, Madagascar, Madagascar; Mr. Cydolain Raveloson, Director Common of the Workplace Malgache des Hydrocarbures (OMH), Madagascar; Olusegun Ilori Esq., Managing Director/CEO of First Otakikpo Midstream Ltd (FOML), Nigeria; Mr. Tarah N. Shaanika, CEO of Namibia Asset Administration; His Royal Majesty Makitu III of the Kingdom of Kongo, Angola; Dr. Joseph Tolorunse, Secretary and Authorized Adviser for the NMDPRA, amongst others.
2. The Gold sponsor of the 2024 Worldwide African Vitality, Oil, and Gasoline Summit (IAEOG) was Inexperienced Vitality Worldwide Ltd (GEIL), an indigenous Nigerian oil and fuel firm and operator of the Otakikpo Marginal Discipline in OML-11. GEIL is one in every of Nigeria’s most dynamic corporations, driving funding and infrastructure growth to help financial development.
Different sponsors and companions embrace Alliad Uganda, Oriental Oil and Providers ltd, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Transatlantic College USA and others.
3. Roughly 150 registered conferees attended the convention, which included two plenary periods, 15 audio system, six panelists, and two moderators. The occasion additionally featured a number of B2B conferences and sector-specific discussions.
4. The Convention was declared open by The Chairman of the APO, Hon Justice Suleiman Galadima JSC, OFR, CFR.
5. Unique African Vitality oil and Gasoline Icon Award was offered to 30 distinguished people through the Award presentation session.
6. Mr. Cons Karamata, Chief Govt Officer of the Financial Affiliation of Namibia, participated within the sector discussions, together with Mr. Immanuel Mulunga, former Managing Director of the Nationwide Petroleum Company of Namibia (NAMCOR), and CEO of Namibian Chamber of Commerce and Trade. And Mr. Laurence.C. Kavendjii. Performing Chairman of Namibia NamPower and others.
7. H.E Nahas Gideon Angula the previous Prime Minister of Namibia acquired the delegates and counseled the organizers for his or her dedication to selling Peace by offering a platform for intra Africa Commerce. He famous that the summit is a laudable initiative aimed toward job creation and eradication of poverty.
8. Engr. Wole Ogunsanya (FNSE), Chairman/CEO of Geoplex Drillteq Restricted and Chairman of the Petroleum Expertise Affiliation of Nigeria (PETAN), was one of many particular visitor audio system. He contributed his presentation titled “Balancing Alternatives and Challenges in Africa’s Oil&Gasoline Trade: A Name for Reflection.”
9. Ms. Florek Harris the African Peace Group Nation Consultant gave the Goodwill messages on behalf of:
- Her Excellency, The Vice President of Namibia
- Dr. Akinwumi Adesina, President of the African Growth Financial institution
- Hon. Tom Alweendo, the Minister of Mines and Vitality Namibia
- The Honourable Minister of State for Petroleum Sources (Gasoline) RT. Hon Ekperikpe Ekpo
- The Hon. Minister of Artwork, Tradition and Inventive financial system, Nigeria.
After exhaustive discussions and in depth deliberations on the papers, the attendees concluded with the next observations and suggestions.
10. The Summit noticed that the majority African Nations wealthy in oil and fuel like Nigeria and Angola, are but to have the ability to eradicate poverty, thus the Residents should not benefitting maximally from the proceeds of the oil income
11. The members thought-about that African Vitality, Oil and fuel coverage makers, practitioners and specialists should proceed to community and focus on the expansion, the challenges, and the long run prospects of our Continent by way of Vitality, Oil and Gasoline since producing international locations and corporations based mostly in Africa face peculiar challenges by way of regulatory surroundings, financing, infrastructure, expertise acquisitions and domestication. -It was agreed that by coming collectively in a discussion board like this summit, the coverage makers and operators can alternate concepts, share information and experiences that may hopefully lighten their burdens going ahead because the international locations and practitioners proceed to offer that vital vitality that drives the financial system of the varied international locations, notably on this period of worldwide Vitality Transition discourse.
12. Individuals famous that many African international locations, regardless of having vital pure assets notably in hydrocarbons are nonetheless lagging in vitality entry and affordability for his or her massive populations. Consequently, these international locations can’t afford to desert fossil gas exploitation and exploration, even amid requires vitality transition. African nations should look inward and encourage their indigenous personal sectors to spend money on the event of their substantial oil, fuel, and hydrogen reserves. Paradoxically, members noticed that regardless of Africa’s substantial fuel reserves, the continent struggles to completely discover these assets to attain ample electrical energy technology and liquefied petroleum fuel (LPG) extraction capability.
13. The Summit noticed that African financial system is closely reliant on oil and fuel, as such there’s an pressing must diversify the financial system into Agriculture, manufacturing and SMEs.
14. The Summit agreed that there’s an pressing must speed up the utilization of all assets from the oil and fuel worth chain as a substitute of current heavy reliance on crude oil exploration and export, whereas additionally guaranteeing an finish to fuel flaring and different environmental challenges associated to grease exploration
15. The Summit subsequently counseled the Nigeria Regulatory framework by way of the passage of the Petroleum Trade Act 2021, which has prioritized the separation of Midstream and downstream petroleum actions as a method of reaching elevated fuel utilization and vitality safety. On this sensible, the summit commends Inexperienced Vitality worldwide ltd, for been the primary Nigerian marginal subject operator to ascertain a modular LPG extraction plant, thereby eliminating related fuel flares in Nigerian stranded oil fields. “The Otakikpo subject revolutionary technique”
16. Individuals, recognizing the huge fuel assets and photo voltaic vitality potential in Africa each thought to be clear vitality sources urged all African international locations to actively promote fuel utilization and photo voltaic vitality to unlock the continent’s vital vitality potential for its folks. On this regard, the summit counseled the Nigerian midstream and downstream regulator, beneath the management of Engr. Farouk Ahmed, Chief Govt Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for its proactive method to creating fuel assets in Nigeria. This contains providing beneficiant incentives and offering funding help for funding within the fuel sector.
17. The Summit notes that vitality transition in Africa is not only a problem; it is a chance to redefine our financial system, create jobs, enhance the lives of our folks, and shield our surroundings. With A.I. as our ally, we are able to reap the advantages of this golden alternative.
18. The Summit noticed that Africa’s financial potential has been constrained by many structural points, together with insufficient infrastructure, tariff and non-tariff obstacles to commerce, basic obstacles to funding, unsure authorities insurance policies and reluctance of earlier governments to take the required daring steps required to attain sustained financial development.
19. The historic reliance on fossil fuels has had hostile impacts on the surroundings, whereas the world’s vitality wants are rising. Like many different areas, Africa has the problem of placing a steadiness between environmental sustainability and vitality wants. There are a number of necessities for a seamless vitality transition. It contains the necessity to reduce the damaging results of local weather change whereas selling financial development, guaranteeing vitality safety, and lowering carbon emissions. Reaching these objectives requires embracing renewable vitality sources together with biomass, photo voltaic, wind, and hydro.
20. Expertise and synthetic intelligence (AI) provide revolutionary approaches for optimizing vitality programs, leveraging their capabilities in information evaluation, machine studying, and predictive modeling. AI is revolutionizing the manufacturing, distribution, and consumption of vitality. By enhancing operational effectivity, optimizing useful resource allocation, and forecasting demand patterns by way of predictive analytics, AI improves vitality technology. Moreover, AI-powered good grid options dynamically handle vitality distribution, enhancing grid stability and accommodating fluctuations from renewable vitality sources.
21. Individuals emphasised that traders/ operators of pure assets notably within the extractive industries should proactively have interaction in constructive partnerships with Host Communities because the panacea for present restiveness in Oil and fuel Producing areas of African Nations. In direction of this finish, the members counseled the Nigerian Authorities initiative of laws that provides 3 % of operational price of oil and fuel corporations to the Host Communities amongst different incentives to deliver growth to the folks of these communities.
22. The members welcome the invention of over 11 billion oil and fuel reserves in Namibia, and related discoveries in different African international locations, and urged the international locations to not to re- invent the wheel however be open to study from the successes of different African international locations that has matured of their oil and fuel exploration. Nonetheless they have to keep away from the errors of African international locations whose useful resource has been badly managed by way of dependence on overseas dominated oil corporations, who at the moment are abandoning these international locations abandoning environmental challenges and restive host communities.
23. The members counseled the benefit of doing enterprise in Namibia as witnessed by some members and hoped this is able to be additional enhanced to encourage traders within the nascent oil and fuel trade within the nation.
Suggestions
23. Convention resolved that sustained broad based mostly financial development and poverty discount are vital to Africa’s financial development and stability.
24. Particularly Summit known as on African States and Governments to refocus efforts on infrastructure growth, enhance energy technology, enhance agricultural productiveness, and broaden jobs in rural areas. There also needs to be larger consideration on youth employment by way of schooling and entrepreneurship abilities coaching.
25. The Summit issued a cautionary message, highlighting the diminishing relevance of Africa’s present pure assets within the face of the crucial shift in direction of renewable vitality options pushed by local weather change issues. It burdened the urgency of embracing the brand new financial realities of the twenty first century that may overshadow the importance of current pure assets.
26. The Summit burdened the necessity for a easy vitality transition, there’s must embrace Synthetic intelligence.
27. The Summit analyzed the vital challenge of safety and its intertwined relationship with financial prosperity
28. The Summit notes the extreme affect of insecurity on Africa’s growth and examined the varied components contributing to this problem. Key observations included the devastating results of terrorism, non-participation of communities in safety efforts, unemployment’s hyperlink to unrest and the necessity for regional cooperation and intelligence sharing.
29. The Summit acknowledged the detrimental position of porous borders, globalization’s affect on crime dissemination, insufficient safety personnel coaching, contentious land allocation, indiscriminate launch of suspects, authorities’s inaction in opposition to insecurity, and the presence of ungoverned areas.
30. All personnel liable for stopping, controlling, and/or cleansing up oils spills in Africa ought to do extra, they need to be educated and to observe the Commonplace Working Process. Coaching ought to be carried out yearly. All spills ought to be documented and maintained. This could contain the host communities, the businesses and the federal government.
31. The Summit famous that Native content material growth is quick turning into a strategic administration challenge for multinational extractive corporations in Africa with vital effectivity and profitability implications. As native content material statutory regulators goal to extend the common native content material worth within the Africa’s oil and fuel trade. There’s an pressing must embrace the spirit and the letter of the legal guidelines in different to attain the specified outcomes.
These suggestions replicate the collective dedication to strengthening the necessity for a easy vitality transition aided by AI in Africa and selling fairness and good governance with the final word objective of Getting It Proper by reaching a affluent, wealthy and peaceable Africa.
Dated this 31st Day of October 2024
HILTON HOTEL WINDHOEK NAMIBIA
Hon. Justice Suleman Galadima JSC, OFR, CFR (Rtd.)
Chairman African Peace Group (UK, Nigeria Angola&South Africa)
Noah Ajare Esq.
Writer/Editor in Chief African Peace Group (UK, Nigeria Angola, Kenya&South Africa)
“At any time when you’re confronted with an opponent, Conquer him with love.”― Mahatma Gandhi
Distributed by APO Group on behalf of African Peace Journal.
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