Connect with us
Anglostratits

Business

Afreximbank Underwrites US$2.5-billion in a US$4-Billion Syndicated Term Loan for Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise (FZE)

Published

on

Afreximbank

The transaction marks a major milestone for DPRP, Africa’s largest refinery and petrochemical complex with a capacity of 650,000 barrels per day

CAIRO, Egypt, March 31, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is pleased to announce that it has underwritten US$2.5 billion in the US$4-billion senior syndicated term loan in favour of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

 

Afreximbank and Access Bank were appointed co-Mandated Lead Arrangers for the five-year facility to consolidate existing financing, optimise its capital structure and align with the refinery’s operational status and long-term growth plan.

The transaction marks a major milestone for DPRP, Africa’s largest refinery and petrochemical complex with a capacity of 650,000 barrels per day. The facility will enhance balance sheet flexibility, strengthen the company’s financial position, and support the refinery as a strategic supplier of refined petroleum products to Africa and the global market.

Afreximbank’s participation of US$2.5 billion is the largest share in the syndicate and underscores the Bank’s leadership in mobilising capital to support Africa’s industrialisation, advancing import substitution, promoting intra-African trade in refined petroleum products, and strengthening energy security.

Since the commencement of refining operations in February 2024, Afreximbank has supported the refinery with a US$ 1 billion working capital facility, as well as acting as Financial Adviser on the Naira-for-Crude initiative  which is facilitating the purchase of crude oil and sale of refined product in local currency eliminating the dependence on foreign currency.

Commenting on the development during a strategy engagement session between the Board of Directors of Afreximbank and the leadership of Dangote Group in Cairo, Egypt, Dr. George ElombiPresident and Chairman of the Board of Directors of Afreximbank, said:

We appreciate Afreximbank’s continued support and confidence in our vision to build world-class industrial capacity that serves Nigeria, Africa and global markets

“We take immense pride in being the single largest provider of financing to the Dangote Group. We do so primarily because Dangote is African. When we invest in ourselves, we do more than create jobs and wealth or expand government revenues; we build a secure and resilient future for our continent. This is why we are pleased to have invested about US$15 billion in the Dangote Group since 2015.

Dr. Elombi stressed that there was nothing more rewarding than investing in African enterprises, emphasising that empowering them was imperative for the continent’s self-sustainability.  He noted, “Afreximbank and its Board of Directors stand ready to support the realisation of Dangote Group’s aspirations because when we build our institutions and provide the requisite support to grow, we will no longer have to look elsewhere for benevolence or salvation in difficult times.”

This transaction makes a powerful statement about Afreximbank’s commitment to backing transformative and indigenous industrial projects that are reshaping Africa’s economic future. The Dangote Refinery stands as a bold symbol of what African ambition, African capital and African execution can achieve at scale. Beyond expanding refining capacity, it is strengthening the foundations of Africa’s energy security, reducing dependence on imports and opening new frontiers for intra-African trade and industrial development. Afreximbank is proud to stand alongside this historic achievement and to continue supporting the continent’s journey towards greater self-sufficiency, resilience and prosperity.”

Mr. Aliko Dangote, President/Chief Executive, Dangote Industries Limited, on his part, said:

“This financing marks an important step in strengthening the financial foundation of Dangote Petroleum Refinery & Petrochemicals and positions the business for the next phase of its growth. We appreciate Afreximbank’s continued support and confidence in our vision to build world-class industrial capacity that serves Nigeria, Africa and global markets.”

The syndicated term loan attracted strong interest from a consortium of African and international financial institutions, reflecting continued confidence in the Dangote Petroleum Refinery as a transformative industrial asset and in Africa’s broader industrialisation agenda.

Distributed by APO Group on behalf of Afreximbank.

Business

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

Published

on

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.

 

Continue Reading

Business

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

Published

on

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.

Continue Reading

Business

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

Published

on

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.

Continue Reading

Trending