Speaking during the CEO Panel Session on Refining Projects at the ARDA Summit in South Africa, Mr. Oyarekhua highlighted the critical role of indigenous refining capacity in strengthening Africa’s energy security, reducing dependence on imported petroleum products, and driving industrial development across the continent.
He emphasized the need for strategic investments, supportive policies, and stronger collaboration between governments, investors, and industry stakeholders to accelerate refinery development and unlock value across Africa’s oil and gas sector. The discussion also focused on financing challenges, project sustainability, and the importance of creating an enabling environment for refining projects to thrive and contribute meaningfully to economic growth and energy self-sufficiency in Africa.