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Sierra Leone’s Energy Advancements Take Center Stage as Petroleum Directorate of Sierra Leone (PDSL) Joins African Energy Week (AEW) 2025 as Strategic Partner

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The Petroleum Directorate of Sierra Leone has joined African Energy Week: Invest in African Energies as a Strategic Partner, highlighting the country’s growing role in the global energy sector

CAPE TOWN, South Africa, February 6, 2025/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL), the government agency overseeing the country’s petroleum resources, has joined African Energy Week (AEW): Invest in African Energies 2025 as a Strategic Partner. With AEW: Invest in African Energies serving as the continent’s premier platform for investment and energy discussions, PDSL’s partnership underscores Sierra Leone’s commitment to fostering global partnerships and highlighting its vast potential in the oil and gas industry.

AEW: Invest in African Energies 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 http://www.AECWeek.com for more information about this exciting event.

Sierra Leone’s significant offshore oil resources (https://apo-opa.co/42IV4Xq) position the country as an emerging frontier market. The government estimates the country’s recoverable oil resources at between 15 and 20 billion barrels of light, sweet crude, with an API ranging from 35 to 42. These factors, along with the country’s strategic location, increasing exploration activity and favorable investment climate, make Sierra Leone an attractive market for global investors.

The PDSL’s participation in AEW: Invest in African Energies 2025 is a game-changer for Sierra Leone’s role as a frontier oil market

While Sierra Leone remains a frontier exploration market, it has already made notable progress, with four significant discoveries by Anadarko and Lukoil. These include the Venus-B1, Mercury-1, and Jupiter-1 by Anadarko, and the Savannah-1X by Lukoil. Additionally, Sierra Leone offers extensive 2D and 3D multi-client seismic data, facilitating further exploration.

As part of its fifth licensing round (https://apo-opa.co/4hNQP18)– concluded in September 2023 – Sierra Leone awarded six offshore oil blocks to Nigerian exploration firm F.A. Oil, showcasing its commitment to unlocking its hydrocarbon potential while opening new investment opportunities for global investors. The licensing round featured over 63,000 km2 of highly prospective acreage comprising 56 blocks. F.A. Oil is currently seeking financial and technical partners and has undertaken a prospectivity study, revealing indications of up to 2 billion barrels of hydrocarbons in place.

Sierra Leone’s first national oil company (https://apo-opa.co/4gyoqea) (NOC) is also in the final stages of formation. The NOC will hold a 10% stake in all exploration licenses and will play a key role in advancing the country’s oil and gas industry. The government aims to achieve a 25-30% stake in projects, subject to negotiation, and has established competitive fiscal terms that include stabilization clauses to protect investors.

Looking ahead, 2025 promises to be a pivotal year for Sierra Leone’s oil and gas sector. The country is preparing for its first offshore drilling campaign and is planning to establish a refinery to reduce its reliance on imported refined products, which currently average 15,000 barrels per day. This refinery is part of a broader oil and gas masterplan aimed at adding value to the country’s resources and ensuring local benefits.

“The PDSL’s participation in AEW: Invest in African Energies 2025 is a game-changer for Sierra Leone’s role as a frontier oil market,” says Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. “This event offers Sierra Leone the opportunity to connect with key investors and partners. It’s about more than showcasing resources – it’s about building lasting, impactful partnerships that will shape the future of Sierra Leone’s energy landscape.”

Sierra Leone’s efforts to unlock its hydrocarbon resources will be a key highlight of PDSL’s participation at AEW: Invest in African Energies 2025. The event will provide the country with an important platform to present its promising offshore acreage and attract investment that will drive its transformation into a leading oil market.

Distributed by APO Group on behalf of African Energy Chamber.

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Oando’s Expansion in Africa’s Energy Sector to Take Center Stage at Invest in African Energy (IAE) 2025 in Paris

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Following its entry into Angola’s onshore hydrocarbon sector and landmark Nigerian acquisition, Oando’s rapid growth will be highlighted as CEO Adewale Tinubu speaks at the Invest in African Energy Forum in Paris this May

PARIS, France, February 6, 2025/APO Group/ –Wale Tinubu, Group Chief Executive Officer will speak at the Invest in African Energy 2025 Forum in Paris this May. As one of Africa’s largest indigenous energy companies, Oando is experiencing significant growth, driven by its landmark acquisition of Eni’s Nigerian subsidiary last year and its recent expansion into Angola.

In August 2024, Oando finalized the acquisition of a 100% shareholding in the Nigerian Agip Oil Company (NAOC) from Eni for $783 million. This strategic move increased Oando’s participating interests in OMLs 60, 61, 62 and 63 from 20% to 40%, effectively doubling the company’s total reserves to approximately one billion barrels of oil equivalent. With plans to scale production to 100,000 barrels per day by 2028, the acquisition solidifies Oando’s position as a key player in Nigeria’s upstream sector.

IAE 2025 (http://apo-opa.co/4aMELLc) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Oando continues to strengthen its presence across Africa with a significant milestone in Angola. Through its upstream subsidiary, Oando Energy Resources (OER), the company has been awarded operatorship of Block KON 13 in the onshore Kwanza Basin. Following a competitive bidding process organized by Angola’s National Agency for Petroleum, Gas and Biofuels, OER now holds a 45% participating interest and will lead the block’s development in partnership with Effimax and Sonangol. Strategically located in the prolific Kwanza Basin, Block KON 13 offers substantial exploration potential in both pre-salt and post-salt plays, with estimated prospective resources ranging between 770 million and 1.1 billion barrels of oil. Two exploration wells previously drilled to a depth of 3,000 meters have indicated the presence of oil and gas across various intervals.

In addition to expanding its asset base, Oando is integrating artificial intelligence (AI) into its drilling operations to enhance efficiency and decision-making. By leveraging AI, the company aims to optimize resource utilization and improve performance in upcoming projects. This initiative reflects Oando’s commitment to adopting innovative technologies to maintain its leadership in the energy sector.

Distributed by APO Group on behalf of Energy Capital & Power.

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Oando to Distribute over 1Billion Additional Shares to Shareholders

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This positive news for Oando shareholders directly increases minority shareholders’ ownership stakes by one (1) new ordinary share of 50 kobo each for every twelve (12) existing ordinary shares of 50 kobo held by the shareholders without dilution

LAGOS, Nigeria, February 6, 2025/APO Group/ –Oando (www.OandoPLC.com) is rewarding its shareholders by giving them an incredible 1.28 billion additional shares in the form of stock dividend. This means shareholders will get more shares added to their investment portfolio at no extra cost. The sheer size of the offering, with 1.28 billion shares distributed, makes it the biggest shareholder reward in Oando’s history.

This decision follows the approval of shareholders at the Company’s 45th Annual General Meeting (AGM) held on December 17, 2024, authorising “the Company may cause shares received pursuant to sub-resolution (b) above, and/or their cash equivalent to be distributed to shareholders of record at date(s) as may be determined by the Board of Directors, from time to time, on a pro-rata basis.”

Subsequently, the Board of Directors resolved to distribute the shares in two tranches in a meeting held on January 30, 2025. The total worth of shares valued at ₦97,562,157,676, based on Oando PLC’s closing share price of ₦76 as of January 30, 2025, will be distributed to its shareholders beginning with 641,856,301 ordinary shares at the close of business on February 14, 2025, and 641,856,300 ordinary shares at the close of business on June 30, 2025.

The Company may cause shares received pursuant to sub-resolution (b) above, and/or their cash equivalent to be distributed to shareholders of record at date(s)

Stock dividends are considered more superior to cash dividends as shareholders are being given the choice of either keeping their return on investment or turning it to cash whenever they want; with a cash dividend, that option is unavailable.  In this instance Oando shareholders are getting a return on investment of over 10%. The increase in shares also means an increase in potential future dividends, as the more shares a shareholder owns, the more dividends they can potentially receive.

Furthermore, instead of paying cash, which could weaken the company’s future financial position, Oando is preserving value and ensuring shareholders benefit from future growth through this scheme. By distributing shares, the company can maintain a strong financial position, which is crucial for future growth and investment opportunities.

This positive news for Oando shareholders directly increases minority shareholders’ ownership stakes by one (1) new ordinary share of 50 kobo each for every twelve (12) existing ordinary shares of 50 kobo held by the shareholders without dilution.

This news comes in the wake of Oando’s robust performance in 2024, bolstered by its $783Million acquisition of Nigerian Agip Oil Company (NAOC) in August 2024, which led to a bullish increase of over 500% in its share price. The acquisition also significantly impacted the company’s FY 2024 financial results, resulting in a 45% surge in revenue to N4.1Trillion. This strong financial performance should instil confidence in shareholders about the company’s prospects.

Building on the track record of 2024, Oando announced the award of Block KON 13 in Angola’s Onshore Kwanza Basin in January 2025. The future remains hopeful for shareholders, as the Group Chief Executive (GCE), Wale Tinubu CON, mentioned in a recent statement that the company will prioritise cost optimization, operational efficiency, streamlining processes, enhancing procurement, and leveraging technology to improve productivity across operations.

This is just the first step in Oando’s ongoing commitment to enhancing shareholder value. By distributing the shares in two phases, Oando ensures that its stock price remains strong and stable, avoiding any sudden market drops.

Distributed by APO Group on behalf of Oando PLC

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Small Chinese city reaps global success with sunflowers

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HOHHOT, CHINA – Media OutReach Newswire – 6 February 2025 – At 57, Wang Fei is hailed as the “King of Sunflower Seeds” in his hometown of Bayannur, in northern China.

The title reflects not only his passion for the crunchy snack but also his remarkable achievement in transforming locally grown sunflower kernels into a global commodity, with markets spanning the Republic of Korea, Egypt and Germany.

If you enjoy eating sunflower seeds, there’s a good chance they originated from the saline-alkali fields of Bayannur – China’s largest base for edible sunflower production. In 2024 alone, the region produced more than 940,000 tonnes of sunflowers, with exports spanning over 40 countries and regions.

Wang is one of the local farmers who have leveraged the booming sunflower industry to become a successful entrepreneur.

BOOMING INDUSTRY, CHALLENGING LAND

Located in the Inner Mongolia Autonomous Region, Bayannur was once burdened by nearly 4.8 million mu (320,000 hectares) of saline-alkali land, where traditional crops like wheat and corn struggled to grow.

The introduction of sunflowers in the 1970s marked a turning point for the city with a permanent population of 1.5 million.

With its distinct seasons, abundant sunshine, vast plains and ample water resources, Bayannur offered an environment strikingly similar to the sunflower’s native habitat in North America, making it an ideal setting for this resilient crop, according to Zhang Ruhong, vice mayor of Bayannur.

In the 1980s, Wang began cultivating sunflowers on his family’s saline-alkali land. “They are resistant to salt and alkali, drought-tolerant and easy to grow,” he said.

By 2024, Bayannur had expanded its sunflower planting area to 4.4 million mu, nearly half of the country’s total. The city’s sunflower industry has flourished into a comprehensive value chain, encompassing seed sales, cultivation, processing, exports, e-commerce logistics and even tourism.

Sunflowers are the world’s fourth-largest oilseed crop, following soybeans, rapeseed and peanuts, said Zhang Haiyang, an oilseed industry expert.

He noted that sunflowers have gained prominence as a key specialty oilseed crop in China, particularly in northern regions, thanks to their high nutritional and aesthetic value.

The sunflower seed market was valued at 32.3 billion U.S. dollars in 2023 and is projected to grow at a compound annual growth rate of around 9.4 percent between 2024 and 2032, according to Global Market Insights, a market research and management consulting firm.

To take Bayannur’s sunflower industry to new heights, local agricultural scientists have successfully introduced high-quality seed varieties, including SH361 and SH363, as well as a resistant strain specially designed to combat broomrape, a parasitic plant that has long plagued sunflower production globally.

TINY SEEDS, BIG JOURNEY

In the run-up to the Spring Festival, the factories of Bayannur buzzed with activity as machines roared and workers hustled to sort sunflower seeds for export.

“We were extremely busy before the holiday, as we wanted to complete and ship all orders abroad,” said Zhao Lei, general manager of Bayannur Rong Da Co., Ltd. “Our sunflower seeds have seen strong overseas demand last year, with exports reaching 35,000 tonnes.”

Across China, many regions have cultivated industries tailored to their unique local conditions. For instance, oranges from Ganzhou in Jiangxi Province and strawberries from Dandong in Liaoning Province have become key drivers of social and economic development.

Bayannur has also leveraged its local strengths, establishing 120 leading sunflower processing enterprises to seize market opportunities.

Wang Fei, who began trading sunflower seeds domestically in 1987, ventured into the international market in 2012. Last year, his company, Mintai Agricultural Trading Co., Ltd., recorded operating revenues exceeding 700 million yuan (about 97.63 million U.S. dollars), with exports making up the bulk.

“In China, people love eating sunflower seeds during festivals. Foreigners share this habit as well. Holidays like Christmas mark our peak export seasons,” Wang said, adding that the holiday economy strongly stimulates consumption.

Bayannur’s sunflower seeds and kernel products now reach over 40 countries and regions in the Middle East, Southeast Asia and Europe, generating an annual export value of 4.2 billion yuan — 64 percent of the city’s total agricultural exports.

These achievements are underpinned by strong policy support. Over the past two years, Bayannur has implemented innovative strategies to promote exports, such as fostering leading companies to establish overseas warehouses, advancing cross-border e-commerce, and streamlining customs clearance processes.

Challenges like rising shipping costs, exacerbated by the Red Sea crisis, have also driven adaptability. Last year, Wang began shifting some shipments from sea to land transport, exporting sunflower seeds to Europe via China-Europe freight trains, significantly reducing costs.

“My goal this year is to expand my sunflower seed exports into the Spanish market,” he said with a smile.

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