World real Gross Domestic Product (GDP) growth slowed to 2.9 percent in 2016 from a revised growth of 3.1 percent in 2015, according to available economic data from the International Monetary Fund (IMF). The slower growth was occasioned by constrained global trade; subdued investment; heightened policy uncertainty associated with the United Kingdom’s exit from the European Union and the 2016 presidential elections in the United States of America.
Growth in Sub-Saharan Africa (SSA) also slowed from 3.4 percent in 2015 to 1.6 percent in 2016. This was attributed to lower commodity prices for metal exporting countries and domestic shocks from a generally less supportive global economic environment.
Impressively though, there was accelerated economic growth of 6.1 percent for the East Africa Community countries that include Kenya, Tanzania, Uganda, Rwanda and Burundi. This growth was fuelled by public infrastructure investment, buoyant private consumption and low oil prices as the region is a net importer of petroleum products. Growth in East Africa has been consistent for the last 10 years, translating in robust demand for petroleum products as well as auxiliary infrastructure and equipment.
In Kenya for example, the volume of petroleum products imported expanded by 11.4 percent from 4.4 million tonnes in 2015 to 4.9 million tonnes in 2016. In Tanzania, petroleum sales grew from 2.9 million tonnes in 2014 to 3.4 million tonnes in 2016 while Uganda recorded growth of 1.8 million tonnes in 2016 from 1.4 million tonnes in 2014.
The continued growth in petroleum consumption in the last two years in the region has spurred substantial investments in pipeline infrastructure, petroleum depots and facilities, ports expansion and building of modern service stations have taken place in the East Africa Community countries. This growth is essentially compelled by growing manufacturing and retail sectors anchored on promising economic outlook of the region.
Besides, the anticipated production of crude and refined oil for export and regional consumption in Uganda in 2017 and Kenya in 2018 is expected to ascend the general outlook of petroleum distribution and commercialization in the region.
This growth and projected production of oil in the region has resulted in rising interest towards the region by petroleum equipment manufacturers and dealers.
The Africa Petroleum Equipment Convention (AfriPet) 2018
According to the International Monetary Fund quarterly Outlook Report released in April 2017, world growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.8 percent in 2018. In relation, this is anticipated to stir continued growth in the East Africa Region.
It is with that background that Nairobi had hosted The Africa Petroleum Equipment Convention (AfriPet) 2018 from July 9th – 11th, 2018 bringing together key petroleum and Liquefied petroleum Gas (LPG) products and equipment stakeholders for a global conference and exhibition of their equipment to the region.
Key partners for the event include; the Ministry of Energy & Petroleum in Kenya, the Ministry of Industrialization in Kenya, the Petroleum Institute of East Africa, the Kenya Chamber of Commerce & Industry and Alison & Davis Group, who are the event conveners.
The three day convention aims at:
- Bringing together global petroleum equipment manufacturers and suppliers to display their products to the East Africa region market.
- To provide a platform for potential buyers of petroleum equipment and solutions to meet and interact with manufacturers and providers from all over the world in the backdrop of growing interest in the region.
- To provide stakeholders in the sector a platform to engage and examine pertinent issues relating to the petroleum business in the region.
Our Event Model
The three day convention had been designed to provide plenty of opportunity for participants to network with potential buyers, peers and colleagues.
The first day of the conference was driven towards interaction between equipment manufacturers and suppliers, government and consumers of petroleum equipments where quality and safety was given prominence. Later in the evening, participants had enjoyed a delightful cocktail dinner event.
The second day had seen sector experts and consultants highlight the latest information on future energy developments, opportunities and solutions through plenary talks from influential speakers, and forum discussions.
The final day had a morning session interaction that had seen equipment suppliers and experts discuss in more depth the various scientific advances that had been applied to produce optimum equipments to serve for the long haul. Later in the afternoon, delegates and exhibitors got to enjoy a relaxing safari adventure at the internationally acclaimed Nairobi National Park situated 20 Km from Nairobi City Centre.
The event brought together:
- Key government officials from the region who had highlighted initiatives geared towards promoting growth in the sector.
- Over 50 global exhibitors from petroleum equipment manufacturers, dealers, solutions providers, consulting companies and other service providers in the petroleum supply chain.
- Over 300 delegates from the East African region who had included oil companies’ executives and technical experts, public agencies representatives, industry consultants, business owners along the petroleum supply chain, among other interested stakeholders.
Theme: Petroleum solutions for the future
The event is East Africa’s biggest and highest petroleum and LPG equipment’s convention.
As the region embarks on unleashing numerous economic opportunities in the petroleum sector at a rapid pace, linking regional stakeholders with their global counterparts should provide a solution centred platform for all players. Key to building a sustainable sector is acquiring and making use of certified petroleum equipment(s) that guarantee longevity in business operation without negative environmental impact.
The convention approach is to dissect core aspects of Quality, Safety and Value in attaining sustainable petroleum solutions in the East Africa Region.
Presentations, Papers and discussion explores:
- How do petroleum and LPG products meet the set local quality threshold?
- What new technology are manufacturers embracing to ensure efficiency?
- How equipment(s) are built to guarantee minimal negative impact to the environment?
- Workers and customer safety
- Integration with other services
Calculating Return on Investment (ROI)