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Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

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African Energy Reception

Speaking during the Invest in African Energy Reception in London, Afreximbank’s Global Head of Client Relations, Rene Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda

LONDON, United Kingdom, January 27, 2023/APO Group/ — 

The Invest in African Energy Reception (https://AECWeek.com/news/) kicked off in London with opening remarks by African Energy Chamber Executive Chairman, NJ Ayuk, and Rystad Energy Co-Founder and Chief Analyst, Per Magnus Nysveen, followed by an opening address delivered by Rene Awambeng, Global Head of Client Relations at the African Export-Import Bank – a partner of the event. During his address, Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda.

Firstly, Awambeng emphasized that Africa only accounts for less than 3% of global emissions, and therefore should be recognized as not the cause of excessive carbon, but rather, the victims of climate change. At the same time, considering the many oil-dependent economies in Africa, with GDP measuring as high as 25% for some, the continent should be able to establish a sensible plan for a just and fair transition.

“We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing. The transition to green energy must be sensible, pragmatic and rational. It must recognize the enormity of the continent’s unmet economic development aspirations, the necessity to take urgent actions to address its ever-widening development gap and the continent’s vulnerability to climate change,” Awambeng stated. 

We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing

As such, Awambeng detailed a strategy towards a just and inclusive transition. Key aspects include supporting the implementation of the African Continental Free Trade Agreement (AfCFTA) to reduce emissions associated with shipping, moving away from exporting raw minerals that support the green economy and scaling up domestic value chains; enhancing foreign capital to finance the just transition and establishing African-based financing mechanisms to support industry growth.

“We must give ourselves a breather to use the natural resources at our disposal to urgently deliver our development needs and simultaneously deploy these to promote investments in green energy. We must proactively and collectively intensify our efforts to implement the AfCFTA, as it is a clear path to mitigating carbon emissions while sustaining lives and livelihoods. We must all support the creation of the Africa Energy Transition Bank so that the continent can take control of its own future. We must back the African Energy Chamber (https://EnergyChamber.org/) so that it can intensify its thought leadership on this subject and ensure that Africa’s voice is heard as loudly as possible on issues that matter to us regarding energy.”

Meanwhile, Awambeng emphasized the need to take urgent action to address the development gap in Africa and the continent’s vulnerability to climate change. In addition to energy investment, focus needs to be placed on climate investment, with the continent requiring up to $277 billion per annum to combat climate change. With Africa currently receiving less than $28 billion of the required funds, Awambeng urged the developed world to honor its commitments to climate financing and incentivized African stakeholders to create their own mechanisms and instruments to honor such commitments. 

“Afreximbank is supporting the promotion of a number of such innovative instruments and programs that can catalyze global finance and help close the funding gap for the necessary climate action while not sacrificing the development priorities of the continent. The Liquidity and Sustainability Facility represents one such innovative instrument…Initially launched by UNECA at COP26 in Glasgow, we expect to conclude the first deal in the course of this conference, to be fully funded by the Afreximbank.”

In closing, Awambeng reiterated the need for a just transition in Africa, one that prioritizes carbon emission reduction and economic growth, simultaneously. 

“While decarbonization is at the center of the global climate agenda, it is evident that Africa, which has hardly carbonized, cannot contribute much to decarbonization. Africa’s priority is to find the money to fight poverty and fund mitigation and adaptation investments.”

Distributed by APO Group on behalf of African Energy Chamber.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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