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African Energy Chamber (AEC) Urges Ivory Coast to Continue Being a Home of Oil & Gas (O&G) Investment

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Ivory Coast is emerging as a key oil and gas player in West Africa, with major projects like Baleine and strong partnerships driving growth and boosting production capacity

JOHANNESBURG, South Africa, December 2, 2024/APO Group/ — 

Ivory Coast is emerging as a powerhouse in West Africa’s oil and gas industry, driven by a solid regulatory framework, attractive fiscal terms and innovative partnerships. Home to significant hydrocarbon reserves and progressive policies, the country has drawn investments from leading energy companies, cementing its status as a regional hub for energy production and exploration. The African Energy Chamber (AEC) (www.EnergyChamber.org) applauds Ivory Coast’s efforts in creating an environment where oil companies can thrive.  

This week, the AEC is participating at the SIREXE 2024 conference in Abidjan. Led by Executive Chairman NJ Ayuk, the chamber engaged with global service companies such as Halliburton, Africa Global Logistics, Sahara Group and SLB, encouraging them to prioritize expansion and innovation. The AEC is committed to supporting Ivory Coast’s initiatives to reduce energy poverty, promote local content, and foster economic development. As the country continues to expand its role in the regional oil and gas sector, the AEC emphasizes the importance of ensuring that the energy transition includes oil. It is essential that industry stakeholders advocate for a just transition that recognizes the ongoing importance of oil in Africa’s energy future while transitioning to more sustainable energy sources. 

Ivory Coast’s strong policies have laid the foundation for oil companies to drive large-scale projects. Notably, the Baleine field, spearheaded by Eni and the nation’s national oil company Petroci, is a prime example of what is possible when innovation meets efficient governance. The field currently produces over 22,000 barrels per day (bpd) and is set to scale significantly. As Africa’s first net-zero (Scope 1 and 2) hydrocarbon project, the project is advancing with the arrival of critical infrastructure – the Petrojarl Kong FPSO and Yamoussoukro FSO – set to boost production to 60,000 bpd and add 70 million cubic feet of gas by the end of 2024. The project features the continent’s first-ever net-zero FPSO. This sustainable approach is what the continent needs. Companies such as Eni are using low-carbon solutions to not only operate but prioritize decarbonization. This is what sets them apart. Petroci’s partnership in this project underscores its pivotal role in driving Ivory Coast’s energy ambitions. 

Ivory Coast is not just a key player in West Africa’s energy sector; it is a model for what the future of African oil and gas development should look like

In addition to the Baleine field, Eni made a significant discovery in March 2024 in Block C1-205 – known as the Calao find – which is estimated to hold up to 1.5 billion barrels of oil. This discovery is expected to generate substantial revenues and create over 8,000 jobs. Ivory Coast plans to begin exploiting the Calao field by 2026, strengthening the country’s energy security and economic growth.  

Amid project advancements, Ivory Coast is also strengthening its local content policies. The government has recently approved in principle the National Upstream Local Content Policy, which seeks to reduce dependency on foreign expertise by building domestic capacity. The policy is currently undergoing consultations across all regions, reflecting the country’s commitment to fostering economic sovereignty and strengthening its energy sector. As the voice of the African energy sector, the AEC commends the efforts by the government to advance local content policy, emphasizing the need for oil operators to increase local hiring, training and contracting.  

The country is also strengthening its position through international partnerships. In August 2024, Ivory Coast’s Ministry of Mines, Petroleum and Energy signed production sharing agreements (PSAs) with Eni for four offshore blocks, promising an $80 million investment in exploration over three years. Similarly, onshore exploration has seen a boost with PSAs signed between the Ministry and Elephant Oil for three blocks, further diversifying Ivory Coast’s energy portfolio and unlocking onshore hydrocarbon potential. 

Exploration campaigns have revealed substantial deposits across the country and key international partnerships continue to advance Ivory Coast’s oil and gas sector. In March 2024, Vaalco Energy acquired a 27.39% stake in the Baobab field through its purchase of Svenska Petroleum Exploration, valued at $66.5 million. The Baobab field, located offshore Ivory Coast, is expected to add substantial capacity to Vaalco’s operations. Similarly, in November 2023, Ice Oil & Gas signed a PSA with Petroci for offshore block CI-705, furthering exploration in the Grand Lahou area with a commitment to invest $40 million in the next seven years. Further strengthening its energy footprint, Murphy Oil signed production-sharing contracts for five blocks in Ivory Coast in June 2023, spanning both shallow and deepwater areas. The company’s activities include developing the Paon deep-water gas and light oil field in block CI-103 and evaluating potential from previous drilling in blocks CI-531 and CI-709. 

Ivory Coast’s efforts to position itself as a regional oil and gas hub extend beyond production. The Ministry has identified 26 blocks available for leasing and is accelerating certification of reserves in existing blocks. Downstream opportunities also abound, with Petroci spearheading projects in refining and petrochemicals. Notably, Société Ivoirienne de Raffinage (SIR), Ivory Coast’s national refining company, is playing a central role in meeting the country’s growing energy demands, underlining the importance of downstream development in supporting long-term energy stability and economic growth. 

“Ivory Coast is not just a key player in West Africa’s energy sector; it is a model for what the future of African oil and gas development should look like. With its progressive policies, commitment to local content and willingness to embrace innovation, Ivory Coast is positioning itself as a beacon of sustainable and inclusive growth,” said Ayuk. “It is crucial to continue building on these partnerships, invest in infrastructure and ensure that growth benefits the country and the broader African continent.” 

Distributed by APO Group on behalf of African Energy Chamber.

Energy

High-Level Minister Roundup to Headline African Energy Week 2026

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African Energy Chamber

African Energy Week 2026 will convene ministers from Algeria, Ghana, Senegal, Zambia and Niger to spotlight oil, gas expansion, reforms and investment opportunities continentwide

CAPE TOWN, South Africa, March 13, 2026/APO Group/ –A high-level ministerial roundup will take center stage at this year’s African Energy Week (AEW) 2026 – taking place in Cape Town from 12–16 October –, convening some of the continent’s most influential energy leaders at a defining moment for Africa’s oil, gas and power sectors. As hydrocarbon expansion converges with accelerating energy transition strategies, the gathering is set to spotlight real-time project execution, regulatory reform and cross-border infrastructure that are actively reshaping Africa’s energy future.

 

Confirmed ministers to date include Algeria’s Minister of Energy and Renewable Energies Mourad Adjal, Ghana’s Minister for Energy and Green Transition Dr. John Abdulai Jinapor, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop, Zambia’s Minister of Energy Makozo Chikote and Niger’s Minster of Petroleum Hamadou Tinni.

 

Fresh from a March OPEC+ decision to lift output to 977,000 barrels of oil per day (bpd), Algeria enters AEW 2026 amid a $60 billion sector transformation. The country is also advancing a 500-well exploration drive and accelerating its 1.48 GW “Project of the Century” solar rollout. Gas exports to Europe remains central to the country, supported by hydrogen corridor planning and refinery expansion aimed at boosting capacity to 50 million tons by 2029.

 

Following license extension for Jubilee and TEN to 2040 and the late-2025 restart of the Tema Oil Refinery, Ghana is pushing a $3.5 billion upstream reinvestment plan while settling $500 million in gas arrears. A 1,200 MW state thermal plant and expanded gas processing at Atuabo anchor its gas-to-power shift, alongside a renewed upstream push in the Voltaian Basin.

The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital

 

Senegal’s delegation comes on the back of strong production momentum, with the Sangomar oil field delivering 36.1 million barrels in 2025, outperforming forecasts, while the Greater Tortue Ahmeyim LNG development ramped up to 2.9 million tons per annum following first gas. Dakar is now prioritizing domestic gas through refinery upgrades at the SAR refinery and preparations for Sangomar Phase 2 to push output beyond 100,000 bpd.

 

Zambia is redefining its power mix after drought-induced hydro shortfalls. New solar capacity – including the 200 MW Chisamba expansion and 136 MW Itimpi Phase 2 – is part of a broader 2,500 MW diversification drive. Cabinet has approved major regional fuel pipelines, while the Energy Single Licensing System fast-tracks approvals. Lusaka targets 10 GW generation by 2030, with solar and wind rising to one-third of supply.

Niger’s presence reflects its emergence as a serious oil exporter, with the fully operational 1,950-km Niger-Benin pipeline now moving up to 90,000 bpd to international markets. Alongside uranium expansion and renewed cooperation with Algeria on upstream assets, Niamey is advancing digital oversight reforms and reinforcing energy sovereignty amid evolving geopolitical dynamics.

 

“The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their leadership reflects a continent moving decisively from strategy to execution, creating a platform where investors can engage directly with the policymakers shaping Africa’s next wave of oil, gas and energy growth.”

 

At AEW 2026, this ministerial cohort will be well-positioned to offer investors direct insight into Africa’s most dynamic energy markets – where new barrels, new pipelines and new megawatts are reshaping regional growth trajectories in real time.

Distributed by APO Group on behalf of African Energy Chamber.

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Enlit Africa 2026 Programme: 280+ speakers, African nuclear 2.0, Bruce Whitfield Business Breakfast

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Enlit Africa

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals

CAPE TOWN, South Africa, March 12, 2026/APO Group/ –Enlit Africa (https://apo-opa.co/4cEX08g) has released its full 2026 conference programme, featuring 280+ speakers across 8 specialised tracks including a new African Nuclear 2.0 session covering Koeberg’s 20-year life extension and Ghana’s nuclear vendor selection process.

 

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals.

Award-winning business journalist and best-selling author Bruce Whitfield will deliver the opening address at the Project & Investment Network Business Breakfast on 19 May, kicking off three days of strategic sessions, deal-making platforms, and technical masterclasses.

New programme content includes:

African Nuclear 2.0 – A dedicated session examining the transition from planning to execution, featuring:

Koeberg Nuclear Power Station’s successful 20-year life extension (Units 1 and 2 now licensed until 2044/2045)

Ghana’s progression to Phase 3 of its nuclear programme, evaluating US, Chinese, and Russian technology bids

West African Power Pool‘s 10 GW regional nuclear capacity target

Small Modular Reactor (SMR) deployment readiness across African grids

Independent Transmission Projects (ITP) – A new session exploring how private investment is unlocking Africa’s transmission bottleneck, featuring global case studies from India’s PowerGrid and lessons for scaling grid capacity across the continent.

Generation Masterclasses – Five interactive roundtables on gas-to-power, nuclear, hydro power, clean coal, and hydrogen.

AI in Africa’s Power Grid – Examining practical deployment realities, real-time analytics, and predictive maintenance applications already in operation across African utilities.

Conference sessions and technical hub sessions on the expo floor are CPD-accredited by the South African Institute of Electrical Engineers (SAIEE) and the South African Institution of Civil Engineering (SAICE).

Co-located platforms:

Water Security Africa features country playbooks from Namibia (55-year potable reuse programme), Uganda (NRW reduction from 42% to 32%), Cape Town (Day Zero recovery strategies), and sector-specific stewardship sessions with Harmony Gold, Heineken, Mediclinic, and Growthpoint Properties.

Project & Investment Network (P&IN), part of the new Level 2 Executive Experience, connects project developers, investors, African utility CEOs, and DFIs through structured matchmaking, ministerial dialogues, and project briefings. Over the past two years, P&IN has facilitated $3 billion in project pitches.

Utility CEO Forum brings together 35+ confirmed utility CEOs under Chatham House Rule for candid, off-the-record strategic discussions on unbundling, prosumer management, and financial sustainability.

Municipal Forum addresses South African municipalities’ distribution, metering, and revenue challenges, including sessions on NRW management, tariff reform, Cost of Supply studies, and electrifying informal settlements.

Technical Hub sessions on the exhibition floor offer free, CPD-accredited training across Power, Renewable Energy & Storage, and Water tracks, with confirmed speakers from Eskom, ENGIE SA, ACTOM, National Transmission Company South Africa (NTCSA), RenEnergy, and Matla Energy.

Site visits on 22 May include Koeberg Nuclear Power Station and the V&A Waterfront desalination plant.

Pass options:
Free expo pass registration: https://apo-opa.co/4bl2bYu

Free expo passes provide access to 250+ exhibitors and CPD-accredited Technical Hub sessions.

Delegate Pass:
Early bird registration closes 3 April 2026. Delegate passes start at R15,100 (Silver), with P&IN Executive passes at R32,000 including access to the Bruce Whitfield breakfast, Level 2 executive lounge, and investor matchmaking.

Download the full programme: https://apo-opa.co/3NwCble

Register: https://apo-opa.co/4cEX08g

Distributed by APO Group on behalf of VUKA Group.

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Binance Secures Second Major Legal Victory in U.S. Court Under Anti-Terrorism Act in Two Weeks

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Binance

US Federal Court in Alabama Dismisses All Claims Against Binance in Latest Lawsuit Victory

JOHANNESBURG, South Africa, March 12, 2026/APO Group/ –Binance (www.Binance.com), the world’s largest cryptocurrency exchange, announced today that a U.S. federal court in Alabama has dismissed all claims against the company in a lawsuit alleging violations of the Anti-Terrorism Act (ATA). This marks Binance’s second major legal victory in an  ATA matter within one week, following their victory in the Southern District of New York.

A Full and Complete Legal Victory

In a detailed 19-page ruling, the Court found the plaintiffs’ complaint to be legally and factually deficient. The court’s decision to dismiss every claim across the board represents a decisive legal victory for Binance.

Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process

The judge described the filing as a “shotgun pleading.” The complaint failed to clearly specify the claims and improperly grouped all defendants together without distinguishing individual conduct or liability. The ruling also emphasized that the plaintiffs did not meet the basic pleading standard to provide a “short and plain statement” of their claims.

Following the ruling, the court granted the plaintiffs until April 10, 2026, to file an amended complaint addressing the deficiencies identified. However, the judge warned that failure to adequately address these issues would result in dismissal of the entire case.

Building on Momentum and Upholding Legal Integrity

“This decision reinforces our unwavering commitment to protecting Binance and our community from unsubstantiated and bad-faith lawsuits,” shared Eleanor Hughes, General Counsel at Binance. “Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process. Courts have now examined these claims on two separate occasions and found them to be without merit. These outcomes speak for themselves. We will not tolerate attempts to misuse the legal system to target our industry, and we remain as committed as ever to transparency, security, and lawful conduct in everything we do”.

This latest decision follows closely on the heels of Binance’s comprehensive victory in New York (https://apo-opa.co/46Xg0ev), where the Court similarly rejected allegations that the company assisted, participated in, or conspired with terrorists. Together, these rulings reflect Binance’s strong resolve to protect its platform and community.

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. The company will continue to vigorously defend itself against any attempts to bring unfounded claims or misrepresent its operations.

Distributed by APO Group on behalf of Binance.

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