Connect with us

Energy

African Energy Chamber (AEC), Venezuelan Petroleum Leadership Forge Structured Hydrocarbon Partnership

Published

on

African Energy Chamber

The African Energy Chamber and Venezuela’s top petroleum officials have agreed on a 12-month action plan to accelerate upstream rehabilitation, gas development, trade flows and cross-continental investment

CARACAS, Venezuela, February 26, 2026/APO Group/ –Venezuela is positioning itself for accelerated oil and gas growth, targeting a near-term increase in production from 1.1 million barrels per day (bpd) to 1.2 million bpd, with a 2027 objective of 1.5 million bpd and a longer-term return toward its installed capacity of 2.8 million bpd. For African investors and service companies, the message is clear: there is structured opportunity, backed by regulatory reform, defined contract models and political commitment at the highest levels.

 

This strategic direction was reinforced during high-level engagements between the African Energy Chamber (AEC) and Venezuela’s petroleum leadership. Part of a high-level working visit to Caracas this week, the Chamber met with Eduardo Antonio Ramirez Castro, Deputy Minister of Hydrocarbon Geopolitics, Luis González, Deputy Minister of Gas and Jovanny Martinez Executive Vice President at the state-owned oil corporation PDVSA. The parties agreed to draft a 12-month joint work plan covering upstream cooperation, refining rehabilitation, gas commercialization, finance structuring, trade flows and training implementation.

“This was not a symbolic engagement – it was a serious, high-level discussion where Africa was clearly recognized as a strategic partner. The fact that all ministers in charge of the petroleum sector were present, including Deputy Minister of Petroleum Eduardo Antonio Ramirez Castro, Deputy Minister of Gas Luis González and the highest executive of the PDVSA, is a strong signal that Venezuela is ready to drive its hydrocarbon sector forward,” stated NJ Ayuk, Executive Chairman of the AEC.

“There is a clear understanding within the Ministry and at PDVSA of what African companies have achieved across complex and mature hydrocarbon markets. They have an aggressive, structured plan to develop their fields and accelerate production, and they are ready to move,”  he added.

Towards a Venezuelan Hydrocarbon Resurgence

Venezuela holds approximately 303 billion barrels of crude reserves – largely concentrated in the 54,000 km² Faja del Orinoco, home to 272 billion barrels – alongside 195 trillion cubic feet of gas. With 56,000 wells already drilled and over 100,000 additional wells targeted in the coming years, the scale of redevelopment potential is significant.

There is a clear understanding within the Ministry and at PDVSA of what African companies have achieved across complex and mature hydrocarbon markets

Considering this potential, discussions during the Caracas meetings centered on joint rehabilitation of priority PDVSA assets, including mature oil fields, Category 2 and 3 wells suitable for rapid workovers, offshore assets such as Perla and Mariscal Sucre and refinery upgrades at Paraguaná, El Palito and eastern facilities. These projects represent relatively low-capex entry points capable of delivering incremental barrels in the short term.

The country’s January 29 Hydrocarbons Law reform, alongside administrative simplification measures and optimized fiscal terms, is designed to attract new participation. Investment vehicles include Production Participation Contracts (CPPs), ATFs and Empresas Mixtas – a form of private-public partnership. Officials highlighted the success of existing CPP structures – including Petrozamora, which reportedly increased production from 23,000 bpd in 2024 to 100,000 bpd in 2026 – as evidence that the model can deliver growth.

The AEC will facilitate African participation in these structures, supporting evaluation of asset data, commercialization rights and export provisions. Majority shareholders retain export freedom, while minority partners may export under defined pricing conditions – clarity that enhances bankability. Finance will underpin execution. Premier Invest – also a participant at the meetings – is expected to structure trade finance backed by PDVSA barrels and inventory, alongside project and infrastructure finance for upstream and midstream rehabilitation. Capital mobilization discussions include Gulf partners, African national oil companies and private operators.

Strengthened South-South Energy Corridors

Gas development and Global South trade also emerged as strategic priorities. Venezuela aims to scale production from approximately 4,100 million cubic feet per day (mmcf/d) toward a 6,000–6,500 mmcf/d range, supporting domestic supply, industrial feedstock and future LNG and LPG exports. For Africa, this presents dual opportunity.

First, African firms with experience in offshore gas, LNG modularization and pipeline development can participate in infrastructure recovery and expansion. Second, commercial trade flows – particularly LPG and bitumen – offer immediate South–South cooperation pathways. The parties explored establishing long-term LPG supply channels to African markets to support clean cooking programs and reduce energy poverty. Structured bitumen agreements could also provide African infrastructure markets with more stable supply and lower import premiums.

Beyond hydrocarbons, education and technical exchange were identified as strategic pillars. Structured one-week technical programs for African executives at Venezuelan petroleum institutions, including the Bolivarian University of Hydrocarbons, will form part of a reciprocal exchange model covering petroleum engineering, geology, trading and energy law.

For the AEC, the engagement signals a shift toward deeper South–South hydrocarbon integration – positioning African companies not only as domestic operators, but as outward investors and strategic partners in one of the world’s largest resource bases.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

S&P Global Energy, CLC Solutions and Colibri Bring Market Intelligence to African Mining Week (AMW) 2026

Published

on

Leading market intelligence and advisory experts will examine the investment trends, policy reforms, infrastructure and local content strategies shaping the future of Africa’s mining sector at this year’s African Mining Week

CAPE TOWN, South Africa, July 27, 2026/APO Group/ –The upcoming African Mining Week (AMW) 2026 – Africa’s Most Influential Mining Conference, taking place October 14–16 in Cape Town – will feature experts from leading market intelligence and advisory firms, including S&P Global Energy, Colibri Business Development and CLC Solutions, across high-level panel discussions and exclusive networking sessions.

 

With the continent holding around 30% of the world’s critical mineral reserves, these firms are providing strategic insights into market trends, policy reform and investment opportunities while supporting governments in developing competitive regulatory frameworks that attract international capital.

Experts from S&P Global Energy will lead several strategic discussions throughout the event. As African governments prioritize mineral beneficiation and downstream industrialization, building competitive value chains has become central to mining policy. Atul Arya, Chief Energy Strategist, will join the Strategic Minerals: Developing a Value Chain that Works for Africa ministerial panel, offering insights into the policy and investment strategies needed to strengthen regional value chains.

Regional infrastructure development will also feature prominently at AMW 2026. Rahul Kapoor, Vice President and Head of Shipping & Metals, will examine investment in transport corridors and cross-border infrastructure during the Regional Connectivity: Financing Africa’s Mineral Infrastructure panel, highlighting projects such as the Lobito Corridor and TAZARA Railway and their role in supporting regional industrialization.

Addressing operational challenges across the sector, Gavin Montgomery, Critical Minerals Market Lead, will participate in the Accelerating Mineral Production: The Energy, Water & Waste Nexus panel. He will explore strategies to improve mining competitiveness through reliable energy supply and sustainable resource management as operators increasingly adopt renewable power purchase agreements, onsite generation, power wheeling and long-term fuel supply agreements to strengthen operational resilience.

Broader geopolitical dynamics will also take center stage at AMW 2026. Thomas Rodriguez, Local Content Director and Developer at CLC Solutions, will participate in the Africa’s Mining Opportunity in the Geopolitical Sphere session, examining how global competition for critical minerals is reshaping investment flows and creating new opportunities for African mining jurisdictions.

As governments intensify efforts to increase in-country value addition, local content and supplier development have become central to mining policy. Ileana Ferber, Founder and CEO of Colibri Business Development, will join the Strengthening Local Content in Africa’s Mining Supply Chain panel to discuss strategies for expanding local procurement, developing competitive supplier ecosystems and increasing the participation of domestic businesses across Africa’s mining value chain.

By convening market intelligence firms, advisory experts, policymakers, investors and mining leaders, AMW 2026 provides a platform for informed dialogue that supports investment decisions and advances the sustainable development of Africa’s mining sector.

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

Continue Reading

Business

Bestselling Angola Reform Book Set for Exclusive Luanda Launch on September 2

Published

on

The Amazon bestseller will be launched in Luanda this September, offering insight into the reforms that help shaped the country’s oil and gas market

LUANDA, Angola, July 27, 2026/APO Group/ —Crude Oil: Power, Turnaround and Transformation in Angola {https://apo-opa.co/4wnVNZP} – the latest bestselling book by African Energy Chamber (https://EnergyChamber.org) Executive Chairman NJ Ayuk – will take center stage in Luanda on September 2 with an exclusive launch event at the InterContinental Luanda Miramar. The Luanda launch brings the book directly to the country at the heart of its story, convening Angola’s oil and gas industry around an examination of the policies, leadership and investment decisions that have reshaped one of Africa’s largest oil-producing markets.

 

Released earlier this year, Crude Oil debuted as a Top Amazon New Release. A Portuguese edition was also released in July, expanding access to readers across Angola and the wider Lusophone market. Blending political history, industry analysis and first-hand perspectives from key decision-makers, Crude Oil traces Angola’s evolution through periods of production decline, economic pressure and structural change to its emergence as one of Africa’s most attractive upstream investment destinations. The book features perspectives from Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, alongside Sonangol Chairman of the Board Sebastião Gaspar Martins and National Oil, Gas & Biofuels Agency (ANPG) Chairman Paulino Jerónimo.

At the center of the book is Angola’s reform agenda and the role it has played in restoring investor confidence and stimulating exploration. Under efforts to curb production decline and attract capital into both mature and frontier basins, the country established a dedicated upstream regulator (ANPG) and downstream regulator (IRDP), while embarked on a multi-year licensing round targeting 50 concessions by 2025. The introduction of a Permanent Offer Regime further opened the market to international capital while policies such as the Incremental Production Decree and Marginal Field program further stimulated investment.

Angola has demonstrated that reform is most powerful when it is followed by execution

These measures have been accompanied by renewed investment from international and independent operators alike. TotalEnergies, Azule Energy, ExxonMobil and Chevron have since expanded their portfolios through license extensions at legacy assets and forays into Namibe and Benguela, while Shell and Petrobras returned to Angola’s deepwater basins in 2025. Onshore, independents are leading drilling and seismic campaigns, led by Afentra, Corcel, Etu Energias, Oando and more. Following a restructuring, Sonangol strengthened its status as an operator through projects spanning both onshore and offshore margins.

The investment push is translating into new production. Begonia and CLOV Phase 3 came online in 2025, collectively adding 60,000 barrels per day, while the commissioning of the Agogo FPSO supported the next phase of the Agogo Integrated West Hub Development. The Kaminho deepwater development is advancing toward a 2028 start, reinforcing the role of large-scale offshore investment in Angola’s long-term production outlook. With up to $70 billion in upstream investment planned over the next five years, the book argues that Angola’s experience offers lessons beyond its own borders: regulatory predictability, competitive fiscal terms and institutional reform can turn resource potential into sustained capital deployment.

“Angola has demonstrated that reform is most powerful when it is followed by execution. The country made difficult decisions, listened to investors, strengthened its institutions and created mechanisms that allowed capital to return to exploration and production,” states Ayuk.

The September 2 launch in Luanda will provide a platform to reflect on the industry’s transformation while looking ahead to the next phase of Angola’s oil and gas development. As new exploration, major projects and billions of dollars in investment move forward, Crude Oil presents Angola’s turnaround not as a completed chapter, but as a reform playbook whose ultimate success will be measured by sustained investment, production and economic impact.

To register, click here https://apo-opa.co/4wnVNZP.

 

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Business

Why Venezuela’s Energy Reforms Are Bringing Investors Back to the Table in London

Published

on

The Venezuela Energy Week London Industry Showcase taking place next week will unpack the regulatory changes, upstream economics and market opportunities shaping the country’s next investment cycle

LONDON, United Kingdom, July 27, 2026/APO Group/ –With Venezuela introducing sweeping reforms to its hydrocarbons sector and renewed international interest gathering pace, the Venezuela Energy Week London Industry Showcase will bring together policymakers, investors and industry leaders on July 30 to examine how the country’s evolving investment landscape is reshaping opportunities across the oil and gas value chain. Hosted as part of the lead-up to Venezuela Energy Week 2026, the event will move beyond discussions of resource potential to focus on the commercial realities driving the sector’s next phase of growth.

 

The agenda opens with a keynote address outlining the government’s strategic vision for the sector, including production targets, investment priorities and the policy framework designed to attract long-term international capital. As Venezuela works to accelerate upstream development, the session will offer insight into the country’s roadmap for rebuilding one of the world’s largest hydrocarbon industries. That strategy is already translating into commercial activity: Repsol signed an agreement in April with Venezuela’s Ministry of Hydrocarbons and PDVSA to regain operational control of the Petroquiriquire joint venture and increase production, followed in June by a memorandum of understanding to evaluate development of the Horcón area near Lake Maracaibo.

Building on this outlook, attendees will receive an in-depth overview of Venezuela’s newly enacted hydrocarbons law and its implementing regulations. The session will examine the upstream business models now available under the revised framework and how they are expanding investment flexibility across exploration, development and production. The reforms are already reshaping the operating landscape, with Chevron, Repsol and Eni among the international companies currently migrating their contracts to Venezuela’s new hydrocarbons regime, which provides greater operational autonomy under an updated fiscal framework.

The commercial case for investment will come into focus through an asset-level assessment of Venezuela’s upstream competitiveness. Focusing on mature fields in the Maracaibo Basin and extra-heavy crude developments in the Orinoco Belt, the session will evaluate field valuations, breakeven economics and the competitive advantages created by the country’s revised fiscal regime, giving investors a clearer picture of where value is emerging. In April, Chevron signed two agreements with PDVSA to increase its stake in the Petroindependencia joint venture to 49% and add the Ayacucho 8 block alongside its Petropiar operations, further strengthening its position in the Orinoco Belt.

As production continues to recover, efficient routes to international buyers will play an equally important role in sustaining growth. A dedicated presentation will examine how Venezuela is optimizing storage infrastructure, strengthening export logistics and rerouting crude into premium global markets following the significant inventory clearances achieved earlier this year. The improving export outlook is also drawing renewed interest from international commodity traders, including Vitol and Trafigura, as Venezuelan crude volumes increasingly return to global markets.

The program concludes with a high-level panel discussion featuring international companies with firsthand experience operating in Venezuela. The conversation will examine the practical realities of doing business in the country, from investment and partnership opportunities to operational challenges and the outlook for future collaboration under the evolving regulatory framework.

As the first international event leading up to Venezuela Energy Week 2026, the London Industry Showcase offers a timely opportunity for the global energy community to assess how policy reform, competitive project economics and improving market access are converging to reposition Venezuela as one of the world’s most closely watched upstream investment destinations.

To register for the London Industry Showcase on July 30, visit https://apo-opa.co/4yMg9OkTo learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery

Energy Capital & Power’s 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/4fVaait).

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Trending

Exit mobile version