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South Africa’s Central Energy Fund Group Joins African Energy Week 2022 as Host National Oil Companies and Platinum Sponsor

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Central Energy Fund

The Central Energy Fund will drive dialogue around how Africa can maximize energy developments to address its looming energy shortages as the host National Oil Company and a platinum sponsor of AEW 2022

JOHANNESBURG, South Africa, September 21, 2022/APO Group/ — 

With Africa seeking to accelerate its economic growth whilst ensuring energy access for all, the optimal production and exploitation of the continent’s estimated 125.5 billion barrels of crude oil and 620 trillion cubic feet of gas reserves is key, and Africa’s national oil companies (NOCs) have a critical role to play. In this regard, the African Energy Chamber (AEC) is proud to announce that South African state-owned energy company, the Central Energy Fund (CEF) – which itself has a mandate to make energy poverty history across the continent by 2030 – will be attending and participating at the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition – taking place from October 18 – 21 in Cape Town – as the host NOC and a platinum sponsor. As the host NOC and a platinum sponsor for AEW 2022, CEF and its subsidiaries will welcome delegates, ministers and fellow NOCs at the continent’s largest energy gathering.

Representing Africa’s second largest and most industrialized economy, the participation of CEF as the host NOC and platinum sponsor at AEW 2022 – Africa’s premier event for the oil and gas sector – will be crucial for shaping thoughtful discussions around how Africa can enhance investments and developments across the entire energy value chain to be able to provide access to energy to the over 600 million people currently living without whilst fueling long-term and sustainable economic growth.

As the host NOC and a platinum sponsor for AEW 2022, CEF and its subsidiaries will welcome delegates, ministers and fellow NOCs at the continent’s largest energy gathering

With CEF Group working towards secure, reliable and affordable energy solutions for South Africa by 2030, the state-owned enterprise – through its various arms including PetroSA; the Strategic Fuel Fund; oil and gas exploration and production company, iGas Energy; and the Petroleum Agency of South Africa – has and continues to be instrumental in driving energy sector growth across the southern African region through partnerships with regional and global energy companies and investors.

With inadequate investment across the entire oil and gas value chain causing the continent to suffer chronic energy shortages and high fuel prices, CEF has emerged as a driver of oil and natural gas developments in South Africa as well as across the entire African continent. Notably, as both Mozambique and South Africa expand their domestic gas economies, CEF is one of the key players, promoting regional integrated energy sector growth by developing, owning and operating the 865km gas transmission pipeline connecting the two countries. In collaboration with integrated energy and chemical company Sasol, CEF Group has also pledged to reducing energy imports and ensure long-term energy security in South Africa through the increased production and use of the country’s gas resources.

“The Chamber is proud to have the CEF Group as the host NOC for this year’s edition of AEW 2022. The NOC’s presence at Africa’s biggest energy event is a strong testament of the works being done by the AEC in partnership with African NOCs and energy market players to deliver a just energy transition for Africa through the exploitation of the continent’s oil and gas resources. We believe Africa will prosper if it drills more oil and gas wells and exploit these resources for its energy needs. This is what the CEF and other NOCs will be discussing at AEW 2022,” states NJ Ayuk, the Executive Chairman of the AEC.

With the CEF in search for appropriate energy solutions to address the ongoing electricity shortages in South Africa through the diversification of the energy mix, AEW 2022 presents the best platform for the host NOC to promote opportunities for partnerships with regional, continental and global energy companies and investors. As the host NOC and platinum sponsor for AEW 2022, top executives from the CEF will have access to exclusive panel discussions and networking forums where updates regarding the NOC’s current projects and future strategies both in South Africa and across the region will be shared. 

Distributed by APO Group on behalf of African Energy Week (AEW).

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Ministers among hundreds of energy-sector leaders to attend AOW event

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1 day ago

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October 4, 2024

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Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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1 day ago

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October 4, 2024

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PAPSS

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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October 4, 2024

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

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

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