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Oil, gas to boost economy – DHL

25 November 2013, 20:26

Abuja - DHL, the logistics industry leader, projected the recent oil and gas finds in Africa to continue having a positive impact on local economies, if local African suppliers, service providers and other businesses geared up to service this growth.

Africa's top oil producing nations comprise Nigeria, Angola, Libya, Equatorial Guinea, Ghana among others.

Steve Harley, the president of the energy sector for DHL Customer Solutions and Innovations, said these energy finds provided many possibilities for local businesses, to echo the express operator’s own marked increase in the transportation of energy-related material in the region.

Harley said that forecasts expected African oil supply growth to continue over the next 25 years, with predicted ranges of growth over the period of between 0.5 million and 2.0 million barrels per day.

“Africa will need to adapt in order to keep up with the demand, as well as evolving trends in this highly competitive sector,” he said.

He said that globally, the steady and reliable supply of energy was critical to economic activity, and due to Africa’s availability of the resource, it was expected that the continent would see continued and steady economic growth.

“We have also witnessed an increased demand for the resource on the continent, and currently Africa is the region with highest increase in oil consumption globally – 5 percent in 2012 versus only a 1 percent increase globally.

"This is likely to continue as many of the fastest growing economies are situated on the continent,” said Harley.

Charles Brewer, the managing director for DHL Express Sub-Saharan Africa, said while the continent was showing promise, issues around infrastructure, regulatory hurdles, and lack of an integrated supply chain in most markets, could be a major hindrance for energy businesses.

“Couple that with the need to optimise production and improve supply chain management to enhance service and reduce cost, and you understand the need for integrated suppliers to introduce more robust metrics, optimize the inventory and find cost-effective transport solutions,” Brewer said.

- CAJ News


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