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GEPetrol Strengthens Oil & Gas (O&G) Asset Portfolio, Joins African Energy Week (AEW) 2024 as Bronze Sponsor

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GEPetrol

GEPetrol will participatea at AEW: Invest in African Energy 2024 as a bronze sponsor as the National Oil Company (NOC) continues to bolster production in Equatorial Guinea while supporting resource monetization and economic growth

CAPE TOWN, South Africa, July 29, 2024/APO Group/ — 

Poised to spearhead a new era of industry growth for Equatorial Guinea, the country’s national oil company (NOC) GEPetrol recently outlined a multi-phase development plan for the Zafiro field, located in the offshore Block B. As a result of the new plan, the company will work towards increasing the flow of production at the field, leveraging its newfound position as operator of the block to bolster production and support economic growth.

As a dedicated NOC committed to utilizing West Africa’s hydrocarbon resources to supply much-needed energy to the population of Equatorial Guinea, GEPetrol will participate as a bronze sponsor during this year’s African Energy Week (AEW): Invest in African Energy 2024 event – taking place in Cape Town from November 4-8. The event brings together global financiers, NOCs, international oil companies and African governments, setting the stage for deals to be signed and developments to kick off.

Equatorial Guinea is well on its way to becoming a major player in the oil and gas game on the continent and worldwide

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

GEPetrol’s multi-phase development plan for the Zafiro field is due to begin implementation at the beginning of 2025, with the first phase involving reconnecting selected wells that were previously connected to the Zafiro Producer floating production unit. Meanwhile, implemented in parallel to the first phase, the second phase will involve cost optimization work as well as the optimization of well exploitation and production. The third phase will be implemented later in 2025 and will feature the redevelopment of the Zafiro field, with the plan for this phase currently under discussion.

GEPetrol assumed operatorship of Block B from energy supermajor ExxonMobil earlier this year following the expiration of a production sharing contract (PSC) that existed between the company and the Equatoguinean government. In April this year, GEPetrol awarded international service provider Petrofac a $350 million technical services contract, which will see the company deliver services across onshore support bases; a floating, production, storage and offloading vessel; and a platform on behalf of the NOC for five years. The contract aligns with GEPetrol’s commitment to revitalizing the Zafiro field and will support operations as the NOC aims to boost production in the country.

In addition to its multi-phase development plan, GEPetrol also recently signed PSCs with energy supermajor Chevron and the government of Equatorial Guinea outlining development plans for Blocks EG-06 and EG-11. The PSCs include provisions on minimum investments, exploration programs, sustainable development and state benefits. The contracts also signify GEPetrol and Chevron’s intent to launch a new exploration and production campaign in these blocks, which were previously held by ExxonMobil. The blocks, which are situated in proximity to the Zafiro field, are considered highly prospective and are poised to play a crucial role in reversing a decline in oil production while bolstering the exploration and production sector in Equatorial Guinea.

“GEPetrol has always served as a longstanding ally to ensuring Africans benefit from African resources. The company’s transformation into a competitive operator – reflected in its Block B development plans – signals a strong intention to maximize the development of producing assets in Equatorial Guinea. As a result of their efforts, Equatorial Guinea is well on its way to becoming a major player in the oil and gas game on the continent and worldwide,” states African Energy Chamber Executive Chairman NJ Ayuk.

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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Business

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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