Would work to create an oil refinery to serve the needs of Africa’s oil-producing nations and allow it to operate as one entity, giving them a stronger voice globally. The oil refinery would co-ordinate pan-African policies on oil supply, refining, and distribution, consistent with international agreements thereby promoting local investment, employment, training and development in a clean and safe environment. The Oil Refinery would be active in promoting global best practices among our members and other industry stakeholders.
It’ll equally be committed to improving the quality of the fuel market within the African continent and reduce pollution occasioned from crude oil exploration. To achieve this, it will support a coordinated regional approach to crude oil exploration with a common supply chain. We would also collaborate with downstream stakeholders including governments, financial institutions, car manufacturers and banks in order to attract the necessary investment to the downstream oil sector.
The role of the Oil Refinery is to give a voice to all stakeholders in Africa’s downstream oil sector and its principal objectives are:
- To address economic and social issues resulting from crude oil exploration or from importing and distribution across the African continent.
- To promote a better understanding of issues which affect the downstream oil industry in Africa.
- To improve communication and cooperation between its members and the international oil market.
- To promote information exchange between members and improve their economic and technical performance.
It is our goal that this pan-African oil refinery would help better the economy of Africa and ease the attainment of our African transformation goals.