Acquisition Update – Africa Oil Week
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In March 2015, ITE acquired a majority stake in a series of oil and gas industry events, the largest of which was Africa Oil Week. This event will take place in Cape Town, South Africa on 26th to 30th October and is shaping-up well despite global oil prices being at their lowest in six years.
Africa Oil Week has 18% more sponsors and exhibitors booked compared to the same time last year and new initiatives include the Africa Oil, Gas & Energy Finance Forum and Government/NOC Pavilion. The conference programme is very strong and keynote speaker is Glencore Chairman and former Chief Executive of BP, Tony Hayward.
ITE Oil&Gas Portfolio Director, Dan Read, said. “Along with our partners at GPP, we are making really good progress with Africa Oil Week. It’s a testament to the legacy of the event and the attractiveness of the African market that it is doing so well in light of the difficulties that the industry is currently experiencing. Once again, it is content-rich with new features adding to an already packed schedule of events that continue to attract some huge names in the industry. Glance at the full sponsor, exhibitor and speaker list and you’ll see the likes of Chevron, Shell, ExxonMobil, Total, Oando and Tullow Oil.
“We are now 8 weeks away from the opening day and entering the sprint finish from an organisers’ perspective, but we’re in a strong position to deliver a first-class event”.