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TotalEnergies to Strengthen Exploration & Production (E&P) Activities in Congo with $600M Investment

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TotalEnergies

On the back of recent investments, exploration and production updates and strong willingness by the government, the Republic of Congo is taking historic measures to ensure its oil and gas industry drives resource monetization and energy access throughout Africa

JOHANNESBURG, South Africa, May 23, 2024/APO Group/ — 

Oil and gas supermajor TotalEnergies has announced that it will invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil production, or roughly 140,000 barrels per day (bpd).

As the voice of the African energy sector, the African Energy Chamber (AEC) commends the commitment by TotalEnergies to Congo’s oil and gas future. The $600 million investment signals a strong intent by the IOC to develop and monetize Congolese hydrocarbons for the benefit of the country and will unlock a wave of economic opportunities for the broader region.  

The TotalEnergies-operated Moho Nord field brings together four reservoirs that extend over 320km2 in water depths of 750m to 1,200m. As such, TotalEnergies’ commitment to the Republic of Congo’s oil production is poised to ensure additional production of 40,000 bpd, adding to the country’s current levels of 267,000 bpd. TotalEnergies also operates the deep offshore Marine XX permit, which extends over an area of 3,285.8km2 at water depths of up to 2,000m. Two drilling rigs arrived at the permit this month, with TotalEnergies CEO Patrick Pouyanné expressing his optimism that the field will yield a discovery before the end of the year.

Congo’s oil and gas can play a much greater role in alleviating energy poverty and driving industrialization in Africa

In April this year, TotalEnergies signed an agreement – through its subsidiary TotalEnergies EP Congo – to acquire a 10% stake in the Moho permit from oil and gas company Trident Energy. Following the completion of this transaction, TotalEnergies will hold an operational stake in the permit with 63.5%, alongside Trident Energy, which will retain a 21.5% share, and the Republic of Congo’s national oil company Société Nationale des Pétroles du Congo (SNPC), which will hold a share of 15%.

“The $600 million investment by TotalEnergies shows that the IOC is in the Republic of Congo to stay. Congo’s oil and gas can play a much greater role in alleviating energy poverty and driving industrialization in Africa, and partnerships with companies to the likes of TotalEnergies will be instrumental in achieving these objectives. We look forward to witnessing new discoveries being made in the coming months,” stated NJ Ayuk, Executive Chairman of the AEC.

In addition to TotalEnergies’ investment plan, the Republic of Congo is set to benefit from a new strategic partnership with Algeria in the field of hydrocarbons and energy. A memorandum of understanding was signed between Algeria’s Minister of Energy and Mines Mohamed Arkab and the Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua on May 21 to enable the development of a new roadmap for bilateral relations between the two countries.

The agreement will also facilitate the sharing of expertise between Algeria’s state-owned Sonatrach and the SNPC headed by Raoul Ominga in the field of downstream oil. The two countries have also expressed their optimism and support to the development of an African Energy Bank to focus investment in oil and gas projects across the continent.

These major developments come after the confirmation of the formation of a new Gas Master Plan in the country by the Republic of Congo’s Ministry of Hydrocarbons during the Invest in African Energy 2024 summit in Paris this month. Currently in its final stages, the new plan will provide a framework that incentivizes the development of the national gas sector while serving as a roadmap to harnessing gas resources for domestic consumption and export. This represents a major opportunity for regional and international investors and will promote gas utilization while reducing the country’s dependence on crude oil revenue. The new Gas Master Plan is being developed by SNPC with support from energy intelligence firm Wood Mackenzie. SNPC CEO Raoul Ominga has been working closely with the Ministry to get final approval. This will open the door for a lot of investment in the gas sector in Congo.

In addition to the Republic of Congo’s established fields, the plan opens the door to negotiate existing contracts and is set to culminate in the establishment of a new gas code in the country. The new code is poised to facilitate the commercialization of stranded assets and flared natural gas while allowing the government to make changes to current fiscal terms and make small-scale projects more economically viable. Approval by parliament for the new code is expected by June this year, according to Minister Itoua.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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