According to Dr Jeremy Wakeford, a renowned energy and sustainability economist and one of the main speakers, falling oil production around the world and the gradual decline in the global peak oil flow rate will negatively impact South Africa, which imports 70% of its fuel needs.
Dr Wakeford is also the chairperson of the South African chapter of the Association for the Study of Peak Oil (ASPO), an international think-tank, researching and advising on the implications of global oil depletion.
"Peak oil is not about running out of oil; it's about the eventual all-time maximum 'peak'- the crucial flow rate - and subsequent decline of annual global oil production," he explains.
Global conventional crude oil production peaked in 2008 and world oil exports have been stagnant since 2005. While unconventional oil production is growing, it is expensive and environmentally unfriendly.
These trends pose significant socio-economic threats to the world, including South Africa. His presentation will consider the likely impacts of oil price shocks and discuss a range of mitigation options for reducing South Africa's reliance on foreign oil.
Another conference speaker is Avhapfani Tshifularo, executive director of the South African Petroleum Industry Association (SAPIA). He will discuss South Africa's oil refinery industry and factors affecting production and demand.
"With our current refining capacity, we are unable to produce sufficient fuel to meet local demand, which forces the country to import refined product. We expect diesel consumption to increase by 4.5% a year and petrol consumption to grow by 1% a year between now and 2020," he says.
Other confirmed speakers include the keynote address, 'South Africa's future in the oil industry', by consultant Steve Harber and Craig Reid, CEO, Fuel Online who will present on 'World class customer service through technology and innovation'
"The conference should be seen as a valuable opportunity for stakeholders in the petroleum market to ask questions and get answers from leading experts in the industry," says Bette McNaughton, the organiser of the conference. "Delegates will also benefit from the many business opportunities that are integral to the trade exhibition."
The conference also aims to identify specific factors that present potential business opportunities for stakeholders. Some examples include:
For more information, go to www.mcnaughtonevents.co.za.
