The OPEC Fund for International Development (the OPEC Fund) (www.OPECFund.org) has arranged a syndicated loan with a US$50 million facility for the benefit of Banco Continental in Paraguay. While the OPEC Fund will contribute US$25 million from its own resources as A-lender, it has also mobilized a US$25 million B-loan from Commercial Bank of Dubai. The OPEC Fund acted as sole Bookrunner, Mandated Lead Arranger and Facility Agent.

The funding will support Banco Continental’s efforts to expand lending to small and medium-sized enterprises (SMEs) and to support the agricultural sector in Paraguay by driving economic growth and bolstering food security through the provision of finance.

The successful syndication marks a milestone in the OPEC Fund’s mission to mobilize financing for the development needs of partner countries: CBD is one of the largest banks in the UAE, one of the OPEC Fund member countries, and the financing represents its first operation in Paraguay.

OPEC Fund President Abdulhamid Alkhalifa said: “This syndication reflects the OPEC Fund’s ability to mobilize resources for impactful development and create opportunities for economic growth. Partnering with CBD and Banco Continental we are channeling resources from our member country UAE to initiatives that directly support SMEs and the agricultural sector – key pillars of sustainable growth and food security in Paraguay. This transaction also demonstrates the strength of cross-border collaboration in addressing global development needs.”

Banco Continental CEO Juan Carlos Carranza said: “We are proud to have successfully completed this transaction with the OPEC Fund and Commercial Bank of Dubai. At Continental, we are leaders in providing financial assistance to the most productive sectors of Paraguay with a strategic vision and social inclusion, meeting the various needs of our clients. Recently, with the investment grade rating, we have strengthened our ability to offer innovative, solid, and competitive solutions, contributing to the economic development of the country and consolidating our market position.”

Fahad Al Muhairi, General Manager for Institutional Banking at Commercial Bank of Dubai stated: “We are pleased to partner with the OPEC Fund to participate in this facility. At CBD, we are committed to advancing sustainable finance while expanding our global footprint. Our partnership with the OPEC Fund exemplifies our strategy to collaborate with leading international institutions to support economic growth in emerging markets and underscores our commitment to building strategic alliances that drive responsible banking.”

Bienvenido Nguema Envo, CEO of Equatorial Guinea’s national oil company (NOC) GEPetrol, is confirmed as a speaker at the Invest in African Energy 2025 Forum in Paris. Nguema Envo will offer insights into Equatorial Guinea’s strategic initiatives aimed at revitalizing the country’s oil production and expanding its energy sector.

GEPetrol is advancing several key exploration and development initiatives, with a focus on offshore fields and attracting new investments through recently signed PSCs. In November, GEPetrol partnered with Panoro Energy to sign a PSC for Block EG-23, marking Panoro’s second operated asset in the country. Previously operated by Marathon Oil, the block has seen 19 wells drilled and is estimated to contain 104 million barrels of oil and condensate, along with 215 billion cubic feet of gas. During the initial three-year term, the partners will concentrate on subsurface studies to assess the block’s prospectivity, with the option to extend for an additional two years to drill an exploration well.

 

IAE 2025 (www.Invest-Africa-Energy.com) 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.

The NOC is focused on boosting production capacity through the development of key assets, including the Zafiro field and Ceiba and Okume Complez. The Zafiro field, Equatorial Guinea’s largest, is at the heart of revitalization efforts following GEPetrol’s takeover of operatorship from ExxonMobil in June 2024. That same month, GEPetrol signed two PSCs with Chevron for offshore Blocks EG-06 and EG-11. Located near the producing Block B, these highly prospective assets are expected to reinvigorate the country’s exploration and production activities. The agreements include comprehensive development plans that outline minimum investments, exploration programs, sustainability initiatives and state benefits, representing a strategic move to counter the recent decline in oil output caused by aging fields and underinvestment in untapped resources.

As these initiatives progress, GEPetrol aims to solidify Equatorial Guinea’s position as one of Africa’s leading oil producers while driving output growth. The company’s focus on enhancing operational efficiency, leveraging advanced technologies and attracting new investment will be crucial in unlocking the full potential of the country’s hydrocarbon resources.

MAPUTO, Mozambique, February 6, 2025/APO Group/ –Mozambique is set to take center stage in Africa’s energy investment landscape as key government officials, international investors and industry leaders gather for the Invest in African Energies: Investor Roundtable on Thursday, February 13, 2025 in Maputo. Hosted by the Mozambique Energy Chamber in collaboration with the African Energy Chamber (AEC) (https://EnergyChamber.org/), this high-level event will explore the country’s immense energy potential and investment opportunities.

With a new era of resource development underway, Mozambique is prioritizing policies that ensure the country’s vast natural gas reserves translate into long-term economic growth and job creation. The roundtable will address key investment drivers, from geology and regulatory conditions to local content strategies and financing mechanisms that can accelerate energy sector expansion.

Mozambique has established itself as one of Africa’s most promising energy frontiers, boasting an estimated 100 trillion cubic feet of natural gas reserves in the Rovuma Basin. The country is home to several large-scale LNG projects, including the operational 3.4 MTPA Coral South FLNG and the under-development 3.37 MTPA Coral North, 18 MTPA Rovuma LNG and 13 MTPA Mozambique LNG projects. TotalEnergies has stated that financing for the $20 billion Mozambique LNG project is expected to be approved by the U.S. Export-Import Bank imminently, paving the way for renewed progress on the long-awaited development, while ExxonMobil anticipates a final investment decision for its Rovuma LNG project by 2026.

However, Mozambique’s energy ambitions extend beyond LNG. Investments in power generation, renewables and local content initiatives are essential to maximizing the sector’s impact on economic diversification. The government is working closely with industry stakeholders to foster an environment that attracts investment while ensuring that Mozambicans directly benefit from sector growth through skills development and job creation.

The roundtable will be a key platform for Estevão Pale, Mozambique’s newly appointed Minister of Mineral Resources and Energy, to outline his vision for the country’s energy future. His leadership is expected to focus on enhancing regulatory stability, strengthening public-private partnerships, and fast-tracking project development to position Mozambique as a global energy leader. Minister Pale will deliver a keynote address, followed by a fireside chat with NJ Ayuk, Executive Chairman of the African Energy Chamber, where they will discuss the country’s energy trajectory and policy priorities.

“Mozambique is one of the most exciting energy frontiers in Africa, offering world-class LNG potential and a strong commitment to local industry development. As the country advances key projects and strengthens its investment climate, this roundtable provides a crucial platform for dialogue between government and investors. Ensuring that Mozambique’s energy resources translate into long-term economic growth, job creation and industrialization will be essential, and the Chamber is committed to supporting this vision,” said NJ Ayuk, Executive Chairman of the AEC.

This roundtable also serves as a critical prelude to African Energy Week (AEW): Invest in African Energies 2025 in Cape Town, the continent’s premier energy investment conference, where Mozambique’s energy opportunities will be showcased to a global audience. Discussions from this event will help shape the agenda for AEW, reinforcing Mozambique’s role in Africa’s energy transition and investment landscape.