Connect with us
Anglostratits

Business

African Energy Chamber (AEC): Senegalese President Macky Sall has Set a Bold Energy

Published

on

Macky Sall

Resilient in his approach to a pro-energy growth agenda, President Macky Sall has accomplished a lot and empowered the energy industry

JOHANNESBURG, South Africa, March 20, 2024/APO Group/ — 

Senegalese President Macky Sall’s 12-year tenure is set to come to an end on April 2 this year. As he leaves his term in office, he also leaves behind a legacy of economic growth and development, and other African states stand to learn from his pro-energy growth approach. As the voice of the African energy sector, the African Energy Chamber (AEC) commends the work undertaken by President Sall to strengthen the Senegalese economy. The President remains a close friend of the AEC and of Africa.

President Sall’s tenure was defined by a commitment to making energy poverty history through the development of resources and investment into every segment of the country’s economy. Unashamed in his approach to supporting industrialization and energy access, President Sall laid the foundation for all forms of energy to be developed. Under his leadership, the country has seen success after success. He has defended the African oil and gas sector, and has put Senegal on the path towards prosperity.  

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Senegal is on track for first gas production from the first phase of the Greater Tortue Ahmeyim (GTA) development by Q3 this year. The project is currently 92% complete and the FPSO vessel is expected to be on site soon. The first phase will produce 2.3 million tons of gas per year and is being developed by global energy majors bp and Kosmos Energy in collaboration with Senegalese national oil company Petrosen and its Mauritanian counterpart and Societe Mauritanienne des Hydrocarbures.

Meanwhile, the country’s inaugural oil development – the Sangomar oilfield project – is 95% complete and is expected to start production between May and July 2024. The FPSO vessel arrived at the project site in February 2024. The project’s production capacity is 100,000 barrels per day and it is being developed by oil and gas company Woodside Energy in collaboration with Petrosen.

The success of these projects has already laid the foundation for a wave of new developments offshore Senegal. Serving as one of the world’s largest gas discoveries in recent years, Senegal’s Yakaar-Teranga development holds an estimated 25 trillion cubic feet of natural gas reserves. Kosmos Energy is set to develop an LNG facility for the project, with a capacity to produce 550 million cubic feet of gas per day. Currently, the concept for the LNG facility is being finalized. Kosmos Energy assumed operatorship of the Yakaar-Teranga project in 2023, thereby strengthening its presence in the country’s offshore gas sector.

Senegal was also recently granted observer membership status within the Gas Exporting Countries Forum, marking its entry into the esteemed organization. Signaling the future role the country will play in global gas markets, the milestone showcases a commitment by Senegal to industry collaboration.

“President Sall’s commitment to development is clear through the achievements seen across the country’s oil and gas industry. Spearheading collaboration with regional government and international partners, President Sall has made Senegal’s business environment both attractive and competitive, and now, the country is well positioned to drive long-term and sustainable growth, driven by oil and gas,” stated NJ Ayuk, Executive Chairman of the AEC.

To maintain development momentum, the country is inviting global and regional E&P companies to invest in exploration, with seismic data and studies available to support offshore drilling. According to Petrosen, Senegal currently has 16 offshore blocks and 5 onshore blocks available, with hydrocarbon discoveries having already been made in some. Senegal offers competitive fiscal terms for operators and has emerged as one of the most attractive oil and gas investment destinations owing largely to efforts by President Sall.

Beyond the oil and gas industry, Senegal has seen a strong pipeline of renewable energy and power generation projects kick off. With some of the lowest energy prices in Africa, the country is committed to achieving universal access to electricity by 2025, and various projects are underway to achieve this. A focus on gas-to-power is poised to enhance generation capacity, led by projects such as the Cap des Biches combined-cycle power project (300 MW). The country’s first utility-scale wind project – the 158 MW Taiba N’Diaye wind farm – is also responsible for 15% of the country’s electricity output.

“President Macky Sall has been unashamed about supporting Africa’s development and it has been an honor working with him and following his pro-growth energy agenda. Thanks to his leadership, Senegal is emerging as an energy champion. His years of service to both Senegal and Africa have been amazing. He will go down in history as one of the greatest African leaders of our time,” added Ayuk.

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

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

Published

on

Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

Continue Reading

Business

Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

Published

on

IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

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

Trending