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African Development Bank joins global partners to raise financing for $1.6 bn multinational Lobito Transportation Corridor programme

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Lobito Transportation Corridor

The MoU, signed Thursday 27 October, outlines the partners’ intentions to collaborate across multiple sectors to realise the full economic potential of the corridor

ABIDJAN, Ivory Coast, October 27, 2023/APO Group/ — 

The African Development Bank (www.AfDB.org) has signed a Memorandum of Understanding (MoU), joining global partners to mobilise resources for the Lobito Corridor and the Zambia-Lobito rail line in southern and central Africa.

Other signatories included the United States government, the European Commission, the Africa Finance Corporation (AFC), and the host governments of Zambia, Angola and the Democratic Republic of the Congo (DRC).

The MoU, signed Thursday 27 October, outlines the partners’ intentions to collaborate across multiple sectors to realise the full economic potential of the corridor, building on the Lobito Corridor Transit Transport Facilitation Agency agreement signed by the three African governments in January this year.

The works entail the construction of approximately 550 km of rail line in Zambia from the Jimbe border to Chingola in the Zambian copper belt and the 260 km of main feeder roads within the corridor.

When completed, the programme will expand an economic corridor connecting the host countries to global markets to enhance regional trade and growth, and to advance the shared vision of connected, open-access rail from the Atlantic Ocean to the Indian Ocean.

The signing took place on the margins of the 2023 Global Gateway Forum in Brussels, Belgium. It comes only weeks ahead of this year’s Africa Investment Forum Market Days with a $1.6 billion investment opportunity for public and private sector financing, including Public Private Partnerships.

The programme will create thousands of jobs and industrial opportunities for the private sector along the entire Lobito Corridor, connecting with Angola and DRC

The Bank plans to contribute approximately $500 million to the project through a blend of sovereign and non-sovereign instruments, including concessional allocations. During the Africa Investment Forum Market Days, it will hold a “deep dive” discussion on the Lobito Corridor.

Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization, signed on behalf of the Bank. “The Lobito Corridor Project is a very strategic corridor that will facilitate regional integration and grow trade across the three countries and beyond. It will attract investments in digital access, clean energy supply chains, and agricultural value chains that will increase regional competitiveness and trade within the context of the African Continental Free Trade Area (AfCFTA). The Bank is ready and glad to be working with the three countries and other partners (PGII, EU, AFC) to accelerate its delivery,” Quaynor said.

Deputy Assistant to President Joe Biden for Energy & Investment Amos Hochstein signed for the United States, highlighting the expected outcomes.

“Demonstrating the Partnership for Global Infrastructure and Investment in action and leveraging both Western and African capital, this strategic transport infrastructure unlocks regional trade and enables additional investments in digital connectivity, agriculture value chains, green energy supply chains and rural health centre electrification, among other transformative economic imperatives,” he said.

Other representatives were the European Union Commissioner for International Partnerships, Jutta Urpilainen; Angola’s Minister of State for Economic Coordination, José de Lima Massano, Democratic Republic of the Congo Prime Minister Jean-Michel Lukonde, and Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane.

With the support of the partners, the AFC will serve as the overall Project Developer, facilitating the preparation stage of the Zambia-Lobito Rail Line Project, and may continue to subsequent phases.

The three countries joined together in January 2023 to launch the Lobito Corridor Transit Transport Facilitation Agency Agreement, based in Lobito, to accelerate growth in domestic and cross-border trade along the Lobito Corridor through the implementation of harmonised trade facilitation instruments, strengthening coordination of joint corridor development activities, and fostering effective participation of small and medium enterprises (SMEs) in value chains.

The programme will create thousands of jobs and industrial opportunities for the private sector along the entire Lobito Corridor, connecting with Angola and DRC.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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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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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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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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