Connect with us

Business

Driving Energy Development: African Energy Week (AEW) 2025 to Explore the Role of International Oil Companies (IOCs) in Africa

Published

2 days ago

on

African Energy Week

International oil companies are driving Africa’s energy growth through new discoveries, investments and collaborations, with this year’s African Energy Week: Invest in African Energies conference paving set to facilitate partnerships in the industry

CAPE TOWN, South Africa, March 3, 2025/APO Group/ –International oil companies (IOCs) active across Africa’s energy sector are delivering on a promise to support economic growth, job creation, capacity building and knowledge sharing. Within the past month alone, energy major bp and its partner Harbour Energy started production at the second phase of the Raven development, offshore Egypt, while Italian supermajor Eni contracted Chinese engineering firm Hilong Offshore Engineering to deliver transportation and installation works for two wellhead platforms at the Congo LNG project.

Through investments in exploration, production and infrastructure, IOCs assist in maximizing the full potential of Africa’s vast oil and gas resources while fostering capacity-building programs and local partnerships. This year’s African Energy Week (AEW): Invest in African Energies 2025, taking place on September 29-October 3, will bring together industry leaders, policymakers and investors to explore new opportunities in oil and gas, deepening exiting partnerships and facilitating deals that strengthen the role of IOCs in Africa’s energy sector.

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.

A New Era in Exploration and Production

Amidst the backdrop of a new era in exploration and production in Africa, exploration company Impact Oil & Gas recently announced the successful completion of drilling at the Tamboti-1X exploration well in Block 2913B, offshore Namibia while independent company Custos Energy announced the completion of supermajor Chevron’s farm-in to PEL 82. On the heels of an IOC-led exploration blitz in Namibia, which resulted in a string of major discoveries, the country has become a hotspot for hydrocarbon investment, with first production set for 2029.

International oil companies are at the forefront of Africa’s energy transformation, driving growth through strategic investments and new discoveries

Exploration company Pancontinental Energy recently announced its focus on two hydrocarbon leads – Oryx and Hyrax – within the Saturn Complex of PEL 87 in Namibia’s Orange Basin. Meanwhile, exploration firm ReconAfrica has found oil indications at its Naingopo exploration well, located onshore Namibia within the Damara Fold Belt. Other recent developments include energy corporation Galp’s discovery at the Mopane-2A well, independent equity producer Azule Energy’s farm-in agreement for offshore Block 2914A and QatarEnergy’s acquisition of a 27.5% working interest in Block 2813B.

Azule Energy – a joint venture (JV) between Eni and bp – also plays an important role in growing Angola’s hydrocarbons industry. In February this year, the IOC completed the Quiluma and Maboqueiro offshore platforms, contributing to the development of Angola’s first non-associated gas project. To support decarbonization in Angola, Azule Energy awarded a two-year contract last September to software company Opsealog to enhance environmental performance across its offshore supply vessel fleet in the country.

Advancing Collaboration with NOCs

Collaboration between IOCs and national oil companies (NOCs) fosters economic growth by creating jobs, developing infrastructure and generating revenue through oil and gas projects. A JV between Chevron and the Nigerian National Petroleum Corporation resulted in the discovery of oil in the Niger Delta in October last year. In May last year, energy major TotalEnergies, along with its Block 20/11 partners Petronas and Sonangol announced FID at the Kaminho deepwater project in Angola.

TotalEnergies and China National Offshore Oil Corporation are working with the Ugandan and Tanzanian NOCs to develop the 1,443-km East African Crude Oil Pipeline – due to come online in 2026. Meanwhile, collaboration among Mauritania’s NOC SMH, Senegal’s NOC Petrosen, bp and Kosmos Energy led to the start of LNG production at the Greater Tortue Ahmeyim project in early-2025. Petrosen also developed the Sangomar Oilfield alongside Woodside Energy, achieving first production in 2024. Such partnerships continue to drive projects forward in Africa, highlighting the role IOCs play in Africa’s oil and gas industry.

“International oil companies are at the forefront of Africa’s energy transformation, driving growth through strategic investments and new discoveries. These companies are not only delivering on their promise to support economic development, job creation and knowledge sharing, but also unlocking the vast potential of Africa’s resources. With events like African Energy Week 2025 serving as a pivotal platform for deal-making and partnership building, the continent is entering a new era of exploration and production,” says Sergio Pugliese, Executive President for the African Energy Chamber in Angola.

Distributed by APO Group on behalf of African Energy Chamber.

Related Topics:
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

CBL Group Expands Global Footprint with Entry into Kenya

Published

8 hours ago

on

March 5, 2025

By

CBL in Kenya

Colombo, Sri Lanka – CBL Group, Sri Lanka’s leading food conglomerate, has entered the Kenyan market by establishing a distribution hub as part of its strategic move to strengthen exports and establish a foothold in East Africa. This expansion aligns with the company’s long-term growth strategy to extend its global reach and cater to new consumer segments.

“We are in the midst of a global expansion drive, focusing on taking our confectionery business to international markets. We see significant potential for growth in emerging markets, and these are the regions where we can drive innovation forward. With a strong presence in over 65 countries, we are committed to further expanding our export business in the coming years. Our entry into Kenya marks a significant milestone in strengthening our global presence, leveraging strategic partnerships, and driving sustainable growth. As a Sri Lankan company, we remain dedicated to supporting Sri Lanka’s economic growth by taking our brands to the world and reinforcing our position as a global player in the food industry,” said Shea Wickramasinghe, Group Managing Director of CBL Group.

Global logistics firm, Expolanka Freight Limited (EFL), which operates a highly efficient supply chain network in Kenya, will oversee the seamless distribution of Munchee and Ritzbury products, ensuring availability in supermarkets, local retail outlets, and wholesale markets. EFL is also take the products across East Africa with the launching of Kenya.

“We are thrilled to partner with CBL Group to introduce their range to Kenya. Our expertise in logistics will ensure that consumers across the country have access to these high-quality snacks,” said Mr. Wasantha Ranasinghe, Director of Expolanka Freight East Africa.

The newly established distribution hub in Nairobi will facilitate the availability of CBL’s flagship brands, Munchee and Ritzbury, across Kenya. With a robust route-to-market strategy, CBL aims to ensure that consumers in Kenya and the wider East African region have access to its diverse portfolio of high-quality biscuits and premium chocolates.

“Kenya’s dynamic, youth-driven market and the growing demand for high-quality snacks make it an ideal location for Munchee and Ritzbury. Our entry into Kenya is not just about expanding our market presence but also about understanding and catering to the evolving needs of Kenyan consumers with a product portfolio that aligns with their preferences and lifestyles,” said Kamal Geeganage, CEO of CBL Foods International, a subsidiary of CBL Group.

CBL

Founded in 1968 to combat malnutrition in Sri Lanka, CBL Group has grown into a globally recognised food conglomerate with a strong commitment to sustainability, entrepreneurship, and community empowerment. By establishing a dedicated distribution hub in Kenya, CBL is not only enhancing its footprint in Africa but also reinforcing its mission to make high-quality, innovative food products accessible to diverse markets.

More Sri Lankan Business News

Continue Reading

Business

Global TikTok advertising revenue is set to top $30bn this year but uncertainty remains in the US

Published

9 hours ago

on

March 5, 2025

By

ByteDance

Almost $12bn is at stake should a US ban go ahead
The US remains TikTok’s largest market. Instagram to benefit the most from a US ban
TikTok ad revenue is growing faster outside the US
TikTok users worldwide spend 35 hours each month with the app
TikTok is having a previously unseen impact on Amazon sales

WARC Media’s Platform Insights: TikTok

5 March 2025 – TikTok, the ByteDance-owned video sharing platform, is increasingly seen as able to drive full-funnel outcomes – from discovery through search to purchase. However, concern over TikTok’s possible ban in the US is creating uncertainty among advertisers and creators.

Alex Brownsell, Head of Content, WARC Media, and author of the report, says: “On 18 January, US TikTok users were unable to access the video-sharing app for more than 12 hours due to regulation banning the app on the basis of national security concerns. A 75-day deadline extension to 5 April by President Donald Trump does little to dispel the uncertainty around TikTok as an ongoing staple in many brands’ marketing plans.

“In this report, we explore the potential impact of a US ban on TikTok’s advertising revenue, and examine the platform’s role in consumer behaviour and campaign effectiveness.”

Providing evidence-based insights on the challenges and opportunities TikTok has to offer, WARC Media’s latest Platform Insights report offers an overview of the key data points that advertisers need to know about the platform spanning investment, consumption and performance.

Investment: Global TikTok ad revenue forecast to reach $32.4bn. Nearly $12bn in US spend at stake if TikTok is banned

In 2025, assuming a US ban is not implemented, ad spend with TikTok should reach $32.4bn, a rise of 24.5% year-on-year. TikTok’s ad business is set to grow faster than either Facebook (+9.3%) and Instagram (+19.0%) this year, giving the video-sharing app an 11% share of the global social media market.

According to WARC’s Marketer’s Toolkit survey carried out late last year, global marketers were more likely to increase investment with TikTok in 2025 than with any other digital platform. Agency respondents (81%) were even more bullish than their client counterparts (74%).

The US remains TikTok’s largest market, but over the last five years its share of the platform’s total ad revenue has diminished, dropping from 43.3% in 2022 to 34.0% by 2026, according to WARC Media forecast. Ad revenue is growing faster outside of the US, potentially mitigating the impact of any ban in the US.

If a ban in the US is avoided, TikTok is forecast to earn $11.8bn in US ad revenue this year (up 21.0%, outpacing overall US social media ad investment, which is set to grow 10.6%), rising to $13.4bn in 2026. Instagram stands to benefit most from a TikTok ban, WARC Media estimates, with spend also going to YouTube and Snapchat.

Consumption: Globally, TikTok users spend 35 hours with the app each month

TikTok’s ad reach is currently reported to be 1.59bn. It is the fifth most-used mobile app globally, and the second most popular app for women aged 16-24. The US remains TikTok’s largest market, with 136m active adult accounts, equivalent to two in five Americans.

Total monthly usage on TikTok by far exceeds that of any other platform, with the average user spending more than 35 hours on the app each month in 2024 – more than double the average usage by Instagram users. Consumption levels are even greater in the US, with users spending an average of almost 44 hours per month on TikTok or almost one and a half hours per day.

Established platforms with short-form video features like Instagram’s Reels and YouTube’s Shorts are likely to win more traction from any ban in the US and friction in Canada.

More than half (57%) of global TikTok users utilise the platform’s search function to follow or find information about products and brands, according to We Are Social. Advertisers so far are “intrigued” but cautious over concerns such as effectiveness and safety.

Performance: advertising on TikTok impacts Amazon sales

Kantar’s latest Media Reactions study found that TikTok has again claimed first place, jointly with Amazon, as consumers’ most preferred advertising platform, and is viewed as the “most fun” and entertaining. However, excessive targeting could be an issue, and TikTok also falls short of the industry average in terms of the trust marketers place in it compared to YouTube, Netflix and Instagram.

One of the key trends outlined by TikTok for 2025 is that creative quality and variety can positively drive performance. To assist, TikTok has built various AI-powered tools such as TikTok Symphony and TikTok One.

Data shows that specific branded content in collaboration with creators drive higher view-through rates, engagement and ad recall.

Investment in upper-funnel campaigns on platforms like TikTok, Meta and YouTube can significantly influence Amazon sales, a new study by Fospha has found. On average, TikTok’s direct-to-consumer only return on ad spend (ROAS) was 2.4x; however, when amazon revenue was factored in, Unified-ROAS, as coined in the study, increased to 4.2x, showing that TikTok is having a previously unseen impact on Amazon sales.

Continue Reading

Business

Libya Launches 2025 Bid Round, Paving the Way for Oil & Gas Revival

Published

9 hours ago

on

March 5, 2025

By

Libya

Libya’s renewed push for oil and gas investment will take center stage at African Energy Week: Invest in African Energies 2025, where global stakeholders will explore opportunities in the country’s newly launched bid round, advancing projects and emerging energy partnerships

CAPE TOWN, South Africa, March 5, 2025/APO Group/ –Libya’s oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. The Libyan government has officially launched the 2025 bid round for oil exploration, a long-anticipated move that marks a significant milestone in the country’s efforts to revitalize its energy industry. The bid round is expected to attract foreign investors and drive exploration activities across Libya’s resource-rich basins, enabling global energy companies to engage in a market that has remained largely unexplored for nearly two decades.

Momentum is already building across Libya’s energy industry, with several upstream developments demonstrating the country’s renewed focus growth and investment. Last month, Mellitah Oil and Gas Company successfully resumed gas production at Well CC18 in the Bahr Essalam field, reinforcing Libya’s ability to meet both domestic and export demands. This increase in production from existing fields underscores the country’s commitment to stabilizing and expanding its energy supply. Meanwhile, Eni’s offshore drilling campaign in Libya’s Sirte Basin is set to be one of the most closely watched exploration programs in 2025, with four exploration wells in the pipeline. In the Ghadames Basin, bp is advancing a multi-well drilling campaign targeting multiple oil and gas formations, leveraging existing seismic data as well as exploring participation in the 2025 bid round.

With a renewed commitment to growth and development, Libya is not only securing its own energy future but also positioning itself as a key contributor to Africa’s energy revolution

Offshore infrastructure projects are also advancing, including Eni’s Structures A&E Project, which channels gas from two fields to the Mellitah treatment plant. Engineering and construction activities for the Structure A platform are already underway, with offshore drilling set to begin in the first half of 2025. Meanwhile, the Sabratha Compression Project is in execution, with startup expected later in the year. Last month, ABL was engaged to support Saipem in overseeing the installation of critical equipment for the Bouri Gas Utilization Project, aimed at enhancing offshore production capacity and advancing the development of Libya’s significant natural gas reserves. Alongside Nigeria, Angola and Namibia, Libya’s renewed focus on exploration and production is positioning it as a vital player in the region’s energy landscape and a key oil and gas hotspot in Africa for 2025.

These developments will take center stage at African Energy Week (AEW): Invest in African Energies 2025, the continent’s leading energy investment platform. With the bid round now officially confirmed, AEW presents a crucial opportunity for Libya to showcase its projects, attract foreign partners and secure the investments needed to drive long-term growth. As Libya reopens its energy sector to global players, AEW 2025 will be instrumental in facilitating discussions on regulatory stability, infrastructure expansion and strategies for maximizing the country’s resource potential. The event will bring together Libyan stakeholders, international investors, and industry leaders, fostering the partnerships necessary to shape the future of Libya’s energy sector.

“The announcement of the 2025 bid round marks a pivotal moment for Libya – a market on the brink of major transformation – offering global investors a unique opportunity to engage with one of Africa’s most promising energy markets. With a renewed commitment to growth and development, Libya is not only securing its own energy future but also positioning itself as a key contributor to Africa’s energy revolution, a central focus of AEW 2025,” says NJ Ayuk, Executive Chairman of the African Energy Chamber.

With production ramping up, offshore infrastructure projects advancing and private sector participation increasing, Libya is making it clear that it is open for business. As Africa’s energy landscape continues to evolve, Libya is set to play a pivotal role in securing the continent’s position as a global energy powerhouse.

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 www.AECWeek.com for more information about this exciting event. 

Distributed by APO Group on behalf of African Energy Chamber

Continue Reading

Trending