JBH MANAGEMENT TO HOST PETROLEUM INDABA

MBABANE - The spike in fuel prices has forced entrepreneurs and relevant stakeholders to rethink the way they do business as well as try mitigating the situation.

JBH management consultancy will host a petroleum industry symposium ‘Indaba’ to discuss the issues relating to petrol and it supply. In an interview with the business desk yesterday, JBH management Director Luke Mnisi said the petroleum industry was under immense pressure due to global trends beyond their control. He said the prices of petrol were escalating rapidly and supply had decreased, because it was also under global pressure which is beyond their control. “This will require stakeholders to enhance efficiencies and pre-design business models to respond to this challenge,” said Mnisi.

The director also said retail operators should attend the symposium because their business sector has been affected by the escalating fuel prices as well. He said their transport departments are busy and operate on daily basis which has become costly for most of them. Mnisi said Fleet operators were also affected by the increase in fuel prices and should also be present at the symposium to discuss their issues.

Major

He said major fuel and oil consumers are also expected to attend the event, which will involve key note speakers and experts in the petroleum industry. “Executives and oil companies are expected to grace the event, where problems inquired because of the spiral increase on fuel prices will be discussed,” he said. The director also mentioned that Avhapfani Tshifularo, the Executive Director of South African Petroleum Industry will be present at the event. He said Tshifularo will talk about the global trends in the petroleum & oil industry and how to better position your business now and in future. Mnisi added that Former Chief Executive Officer (CEO) in the oil industry and current business consultant Solomon Nkabinde is part of the key note speakers.

He said Nkabinde will talk about re-designing business models for better efficiencies current, now and in future. “Nkabinde will also talk about current challenges in petroleum, shrinking margins, and pilferage as well as supply chain management”, said Mnisi. The director also mentioned that the CEO of MGM Capital Sam Mzileni will also be present and will tackle the challenges faced by operators, consumers and larger stakeholders as well as how to overcome them. Mzileni is the Former director of Operations Eswatini Railways. Part of the panel will be Former Managing Director (MD) as Shell Obed B Macwele who will tackle the questions as well as the Ministry of Natural Resources which will talk about pricing models and processes.

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