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African Energy Chamber (AEC) Calls on Exploration & Production (E&P) Companies, Technology Providers to Invest in Angola

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African Energy Chamber

The Angola Oil & Gas 2024 conference – taking place on October 2-3 in Luanda – will connect investors with the country’s latest oil and gas projects seeking private capital and participation

LUANDA, Angola, May 28, 2024/APO Group/ — 

Angola plans to maintain oil production at 1.1 million barrels per day (bpd) until 2027, thereafter increasing output to over 2 million bpd to stimulate economic growth. As the linchpin of the economy, Angola’s oil and gas industry has seen aggressive reform since 2017, with the government’s continuous competitive focus guaranteeing attractive fiscal and contractual terms for investors. As such, the African Energy Chamber (AEC) (www.EnergyChamber.org) is calling on global E&P companies and technology providers to invest in Angola, as one of Africa’s largest producers and a growing regional production hub.

For decades, Angola’s oil and gas industry has delivered high returns for investors, with economic stability, proven petroleum plays and strong local partners underpinning the success of multi-million-dollar investments. The introduction of a six-year licensing round in 2019, in tandem with proven and frontier exploration opportunities, has only enhanced the sector’s attractiveness. Amid growing international interest, the country’s premier industry event – Angola Oil & Gas (AOG) – returns for its fifth edition on October 2-3, 2024. The event is proudly endorsed by the AEC and is set to connect international players with partnership and investment opportunities across Angola’s oil and gas market.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

A Strategic Opportunity for Upstream Players

While recognized as a mature oil market, Angola continues to offer frontier opportunities for explorers. Earlier this month, energy major TotalEnergies reached FID on the Cameia and Golfinho fields in Angola’s Block 20/11. Part of the $6-billion Kaminho deepwater project – the first large-scale deepwater development in Kwanza Basin – the fields are on track for first production by 2028.

Angola’s producing blocks also offer opportunities for enhanced output, with expanded drilling programs revealing extended deposits. Earlier this month, energy major ExxonMobil announced an oil discovery at the Likember-01 research well in Block 15 offshore Angola. The well revealed the existence of high-quality, hydrocarbon-bearing sand packages and is the first well to be drilled as part of a large incremental production initiative.

Other projects are also advancing: the construction of the Soyo II Combined Cycle Power Plant is expected to start this year; the Quiluma and Maboqueiro gas project is on track for first production in 2026; the Agogo Integrated West Hub development project targets first production in mid-2026; and FID for the Ndungu oil field is expected later this year. Multinational oilfield services company Saipem has been awarded an $850-million contract by international energy company Azule Energy for the development of the field.

Going forward, Angola’s multi-year licensing round ensures yearly access to new block opportunities for foreign players. Since its launch in 2019, over 27 blocks have been awarded, with the most recent tender attracting 53 bids for 12 blocks in the Lower Congo and Kwanza Basins. Angola will launch a 2025 Limited Public Tender in 2025, offering up to 10 offshore blocks in the Kwanza and Benguela basins. The AEC urges investors to seize this opportunity to join one of Africa’s most exciting oil and gas plays.

Infrastructure Investments to Yield High Returns

Angola’s oil and gas investment opportunities transcend upstream projects, with a national commitment to expanding downstream infrastructure, reflecting new prospects for capital, technology and service providers. As an established producer since the 1950s, Angola already offers a strong infrastructure base for oil and gas operations, yet new investment in refining, distribution and processing promises to yield even greater returns for both upstream operators and downstream service providers.

To expand refining capacity, Angola has three new refineries in development – in Soyo, Cabinda and Lobito – and is upgrading its existing Luanda refining facility. In total, these developments will increase Angola’s refining capacity to over 400,000 bpd. Last March, engineering company KBR won a contract to provide management services for the 200,000-bpd Lobito refinery. The first phase of the 60,000-bpd Cabinda refinery is also on track for production in 2024.

Meanwhile, a $5-billion pipeline deal was sealed with Zambia to enable regional exports. The two countries agreed to fast-track development of the pipeline in 2023. Other key infrastructure developments include the Petromar Fabrication Yard in Soyo; the Paenal Fabrication Yard in Kwanza Sul; and the Barra do Dande Ocean Terminal. Investing in Angola’s infrastructure will not only enable access to regional markets, but also drive further growth of the country’s burgeoning oil and gas sector.

Distributed by APO Group on behalf of African Energy Chamber.

Business

5 Investment Opportunities Putting Congo Energy & Investment Forum (CEIF) 2027 on the Map for Central Africa

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CEIF 2027 connects investors with Congo’s energy projects and local partners, while providing entry points for commercial opportunities across Central Africa

BRAZZAVILLE, Republic of the Congo, November 2, 2026/APO Group/ –The Republic of Congo’s expanding oil and gas developments are creating new opportunities for investment, engineering contracts and commercial partnerships across the energy value chain. With offshore discoveries, mature-field redevelopment and three million tons per year of LNG capacity, the country is entering a new phase of energy development that requires capital, technology and international partnerships.

 




 
 

The Congo Energy & Investment Forum (CEIF) 2027, taking place June 1-3 in Brazzaville, will serve as the official platform connecting Central African energy decision-makers, operators, investors and service companies. Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, the forum will bring together public- and private-sector stakeholders to advance investment discussions, facilitate partnerships and connect companies with emerging opportunities across the region.

Connect With Central Africa’s Energy Decision-Makers

CEIF 2027 will provide a platform to engage directly with Congolese authorities, regulators, national energy companies and policymakers shaping the region’s energy investment landscape. Taking place in partnership with the Ministry of Hydrocarbons, the event offers a bridge between the country’s policymakers and public- and private-sector companies. Conversations with decision-makers can help investors understand national development priorities, gain insight into the regulatory environment and identify opportunities for market entry or expansion.

Capitalize on Congo’s Upstream Investment and Production Ambitions

As Congo targets production growth toward 500,000 barrels per day, operators are pursuing new exploration and mature-field redevelopment to increase output. TotalEnergies’ 2026 Moho G discovery could unlock an estimated 100 million barrels of recoverable resources alongside the existing Moho F development, illustrating the potential to connect new discoveries to established offshore infrastructure. Meanwhile, Perenco and Trident Energy are pursuing development and redevelopment opportunities across mature assets, including well reactivation and infrastructure upgrades.

These activities could create opportunities for drilling contractors, engineering firms and production technology providers. CEIF 2027 offers a platform to explore project requirements and investment opportunities across Congo’s upstream sector.

Unlock Opportunities Across LNG, Gas and Power Infrastructure

With LNG exports established and liquefaction capacity reaching three million tons per year in 2026, Congo is looking towards its next phase of gas development. This will depend on sustaining feedgas supplies, connecting additional resources and expanding infrastructure.

Beyond LNG, Congo’s plans to expand electricity generation and improve transmission and distribution infrastructure present opportunities for power developers, equipment suppliers and investors. These priorities create potential opportunities for upstream operators, engineering companies, technology providers and investors interested in gas processing, power generation and distribution. CEIF provides a platform to advance these priorities.

Showcase Solutions and Build Commercial Partnerships at the Exhibition

The CEIF 2027 exhibition will provide a platform for companies to showcase their technologies, equipment and services directly to energy operators, policymakers, investors and potential clients across Central Africa.

Exhibitors will have opportunities to demonstrate solutions, engage with local service providers and identify potential partnerships across drilling, engineering, infrastructure and energy technology. For companies seeking to enter or expand in the region, the exhibition offers a direct route to building commercial relationships, exploring procurement opportunities and positioning their services for upcoming projects.

Access New Projects and Financing Opportunities

Turning project opportunities into investments requires clarity on development priorities, infrastructure requirements and financing structures. CEIF’s discussions will give participants an opportunity to assess the projects shaping Congo’s energy sector and engage with potential commercial and institutional counterparts.

Investors, lenders and project developers can use these exchanges to identify areas where financing, technical expertise or new investment structures may help advance projects across oil and gas, power generation and downstream industries.

Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, CEIF 2027 will enable candid dialogue, facilitating new investments and deals in the country’s energy sector. For more information, visit www.congoenergyinvestment.com.

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

 




 

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Business

Afreximbank supports Veenocks’ US$145 million project for industrial expansion and regional growth

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Afreximbank

PPF-funded studies enabled Veenocks to broaden its medium-term regional growth plans, while a US$81.9 million senior loan supports an expansion expected to triple annual production capacity

CAIRO, Egypt, November 2, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has supported the development and expansion of Veenocks Limited’s porcelain tile manufacturing plant in Sagamu, Ogun State, Nigeria, through its Project Preparation Facility (PPF) and a US$81.9 million senior term loan. The project has a total estimated cost of US$145 million.
 




 

Afreximbank and Veenocks signed a US$2 million project preparation facility agreement in August 2024 to finance technical, commercial, financial, legal, environmental and social studies needed to establish the project’s bankability.

The studies financed through the PPF, complemented by Afreximbank’s pan-African experience, enabled Veenocks to broaden its growth ambitions beyond its primary focus on the Nigerian market. This support informed the company’s plans to pursue regional opportunities over the medium term, with target markets including Togo, Benin, Burkina Faso, Niger, Cameroon, Ghana, Mauritania and Senegal.

The Bank’s US$81.9 million senior term loan supports implementation of the plant’s expansion, providing financing for investment in additional manufacturing capacity. The expansion is expected to increase the plant’s total annual production capacity from 3.3 million to 9.9 million square metres, creating a stronger production base to meet domestic demand and pursue regional opportunities.

Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment

The existing plant employs more than 200 people directly. The expansion is expected to create an additional 300 direct jobs, alongside indirect employment across raw material supply, logistics and distribution.

The preparation financing has been fully repaid from senior debt, completing the PPF’s funding cycle for Veenocks and replenishing capital to support further projects.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, said:

“Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment. The studies financed through Afreximbank’s Project Preparation Facility have helped strengthen the project’s bankability and broaden the company’s regional growth ambitions. Our senior debt financing supports the plant expansion needed to convert those ambitions into increased productive capacity, and stronger foundations for intra-African trade.”

Mrs. Awani added: “Full repayment of the preparation financing ensures capital is available to support more indigenous African investors and projects. This is the PPF’s revolving model in practice: the funds that have been repaid are used to support initiatives that add value to local resources and expand manufacturing.”

Mr. Adebisi Abidemi Adebutu, Group President of R28 Holdings, the parent company of Veenocks Limited, said:

“This investment represents an important step towards our ambition of building a globally competitive manufacturing business in Nigeria, producing world-class tiles to European quality standards and reducing Nigeria’s dependence on imported tiles. The PPF was instrumental in broadening our growth plans and positioning us to penetrate regional markets over the medium term. With Afreximbank’s financing, we can now deliver the expansion phase of this project. The facility will allow us to add value to Nigeria’s raw materials, create quality jobs and increase the supply of our porcelain tiles, manufactured here in Nigeria, to customers at home and across the region. Our vision is to set the global benchmark for quality in tile manufacturing and to become Africa’s first choice for porcelain tiles.”

Distributed by APO Group on behalf of Afreximbank.

 




 

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Energy

Energy costs, storage value and industrial competitiveness led Day 2 of C&I Energy + Storage Summit

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Energy

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains

JOHANNESBURG, South Africa, November 2, 2026/APO Group/ –How can South African businesses turn energy investment into lower operating costs, stronger resilience and long-term competitiveness? This question drove the second day of VUKA Group’s (https://WeAreVUKA.com/) C&I Energy + Storage Summit in Johannesburg, with discussions examining the commercial value of storage, industrial energy strategies and the infrastructure needed to support Africa’s growing digital economy.

 




  

The programme brought together business leaders, energy specialists, financiers and public-sector representatives to address practical decisions facing commercial and industrial users, alongside the EIUG Conference, Water Security Africa and Data Centre Summit.

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains.

Energy storage featured prominently, with panellists examining how tariff optimisation, peak shaving and renewable energy integration can strengthen its value beyond backup power. The investment case, however, needs to account for battery degradation, warranties and operational risk.

Addressing the attendees, Junaid Munshi, Group Executive: Distribution for Eskom told the audience: “For an industrial business, solar and storage can improve the energy cost position. But the opportunity extends beyond the customer’s electricity bill. Where network capacity is constrained, coordinated battery use may relieve pressure on the infrastructure serving that business and, where proven technically dependable, could defer or reduce grid investment. The asset behind your meter can therefore also become a resource beyond it.”

The asset behind your meter can therefore also become a resource beyond it

The EIUG session “Industrialisation under threat?” put changing electricity consumption under scrutiny, asking whether lower demand reflected efficiency gains or weakening industrial output. Tariffs, investment conditions and industrial growth remained central to the discussion, highlighting the need to assess energy trends against the health of the wider economy.

At the Data Centre Summit, Africa’s AI ambitions brought power availability and infrastructure readiness into focus. Discussions on grid access, wheeling and network investment highlighted the importance of planning digital growth alongside the electricity infrastructure needed to sustain it.

For businesses developing energy projects, public-private engagement sessions explored infrastructure co-investment, municipal coordination and workable wheeling agreements.

Water Security Africa reinforced the wider resource-security challenge through industrial resilience case studies, digital water technologies and lessons from case studies.

Across the discussions, the practical message was consistent: competitive businesses need more than access to technology and capital. They also need reliable infrastructure, workable commercial arrangements and coordinated delivery.

The afternoon programme translated these themes into business decisions. “The C&I energy playbook” drew together insights from across the summit, while the closing “decision clinic” addressed real project challenges, from choosing between onsite solar and wheeled power to sizing batteries and preparing projects for financing. Experts from DBSA, Standard Bank, SustainableDNA and the City of Tshwane contributed practical guidance.

Download the programme to review the full Day 2 agenda and participating speakers: https://apo-opa.co/4eEKq9a

Distributed by APO Group on behalf of VUKA Group.

 




 

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