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African Energy Week (AEW) 2023 Unites Key Players During Invest in Angola Energies Spotlight Session

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African Energy Week

A dedicated country spotlight featured the participation of key players in Angola’s energy sector during the 2023 edition of AEW, offering stakeholders a unique insight into the growing market

CAPE TOWN, South Africa, October 18, 2023/APO Group/ — 

The 2023 edition of the biggest gathering of energy stakeholders and policymakers on the continent, African Energy Week (AEW) – organized by the African Energy Chamber (http://www.EnergyChamber.org) – featured a country spotlight roundtable on Angola, showcasing the country’s abundant reserves and favorable business environment.

Kicking off the session, heavy weights from Angola’s oil and gas sector, including representatives from the country’s National Oil Company (NOC), Sonangol; independent regulatory agency, the National Agency for Petroleum Gas and Biofuels (ANPG); and integrated energy company, Etu Energias, provided keynote speeches, showcasing the immense potential of the country’s oil and gas play.

“We are a petro-mature country and started producing first oil around 1960,” stated Belarmino Chitangueleca, Executive Director of the ANPG, adding, “Our challenge through the milestones resulted in the production of 2 million barrels of oil per day, which was a result of commitment, investment, and also adjusting legal frameworks and regulations, which have enabled business in Angola.”

Chitangueleca went on to reiterate the national concessionaire’s licensing of 12 onshore blocks in Angola’s Lower Congo Basin and invited independents and small companies to participate in the country’s burgeoning oil and gas industry.

“Angola is open for business. It has a friendly business environment. We respect the sanctity of the contracts that we sign. And these have been the bedrock of Angola as a powerhouse in oil,” stated Osvaldo Inácio, Executive Board Member at Sonangol.

“We are driving new energy in Angola, and we want to expand throughout Africa,” stated Edson dos Santos, CEO for Etu Energias, adding, “Believe in Angola. Not many countries in the world can offer you on- and offshore assets. We have solar power, hydroelectric opportunities, Angola offers the full package in terms of energy.”

Meanwhile, representatives from private energy companies including oil and gas supermajors, Chevron, ExxonMobil, and Azule Energy provided their expertise in the country’s energy sector.

“What we’re doing is going to provide fuel, expand electricity generation and make it more accessible to schools, homes, and medical facilities and will go on to drive human progress. Moreover, exploration and production will enable future projects and companies to come in in other sectors,” stated Billy Lacobie, Managing Director of the Southern Africa Strategic Business Unit at Chevron.

Following the launch of its 2023 Licensing Round in March, offering 12 blocks in the Lower Congo and Kwanza onshore basins, the ANPG serves a crucial role in managing Angola’s resources, overseeing partnerships with international oil companies and ensuring optimal utilization of hydrocarbon resources. Their involvement provides investors with confidence in the security of their investments and collaborative efforts to maximize output and returns.

Exploration and production will enable future projects and companies to come in in other sectors

“Working in partnership with Angola, going into frontier regions, we know, before we drill, that Angola has everything we need to go in and get things done,” stated Jeff Weidner, Development Manager for Esso Exploration Angola Limited at ExxonMobil.

Meanwhile, Angola’s strategic geographical position, ongoing infrastructure advancements, local content initiatives, and rapidly expanding market, represents an enticing investment opportunity for regional and global players.

“Angola’s mature fields offer huge opportunities,” stated Ian Cloke, Chief Operating Officer for independent oil and gas company, Afentra, adding, “I applaud the way Angola has approached the environment through the extensive offering of licenses, its issuance of regular rounds, and engaging with the industry to see what is needed to invest.”

Investments in critical infrastructure, including updated ports, pipelines, refineries, and storage facilities, have bolstered Angola’s oil and gas industry. These advancements improve operational efficiency, reduce transportation costs, and increase profitability for investors. With projects such as the Luanda, Soyo, Cabinda, and Lobito refineries currently well in development, Angola is positioning itself as a regional hub for energy production, offering an appealing and financially rewarding investment climate.

“There won’t be a transition without energy and industrialization, and we would welcome your interest in investing in our refineries and storage facilities,” Inácio stated, adding that, “As an NOC, we have an additional responsibility in the mid- and downstream segments of the industry.”

Meanwhile, the country’s pioneer Liquefied Natural Gas (LNG) project, Angola LNG, has positioned Angola as a highly attractive gas play, with new upstream developments promising an increase in LNG production and export.

“The environment is improving because the Ministry and the Agency are trying to understand what the investor needs in order to invest more. Partnering with Sonangol in low-carbon opportunities is very important for Angola,” stated Adriano Mongini, CEO of Azule Energy.

Angola boasts substantial oil reserves of 9 billion barrels and natural gas reserves of 11 trillion cubic feet, supporting a stable foundation for lucrative returns. The country’s high production rates – reaching approximately 1.06 million barrels of oil per day and 17,904.5 million cubic feet of natural gas in May 2023, ensure stability and ongoing revenue generation. Moreover, Angola’s strategic plans for development and underexplored areas like the Kwanza and Namibe Basins further enhance its status as a global frontier in energy exploration.

“There is a space now, as these basins mature, there are tremendous opportunities for small- to mid-sized companies to come in, join as a partner, and help mitigate production decline,” concluded dos Santos.

Meanwhile, on the renewables front, the panel noted that Angola has made significant strides through the Angola Renewable Energy Program, implemented from 2019 to 2022. This program focused on solar energy and hydropower, contributing to an increase in the national electrification rate from 33% in 2017 to 43% in 2021 and raising the renewable energy component of the energy mix from 59% to 64%. The country’s stated goal is to quadruple renewable energy production – with a specific emphasis on solar energy – from 125 MWh to 500 MWh.

Sponsored by the ANPG, Sonangol, Etu Energies, and Azule Energy, the Invest in Angola Energies country spotlight provided a multifaceted platform for investors and industry leaders to gain crucial insights into the evolving market and its associated opportunities.

#AEW2023 takes place this week in Cape Town under a mandate to make energy poverty history by 2030. Keep following www.AECWeek.com for more exciting information and updates about Africa’s premier energy event.

Distributed by APO Group on behalf of African Energy Chamber.

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Congo Is Turning Reserves into Bankable Projects – and the Investment Window Is Opening

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Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027

BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.

 

What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.

Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.

Policy Reform Is De-Risking Investment

Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.

Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.

A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.

The Projects Driving the Next Cycle

Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.

Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.

Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.

While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.

Local Content Is Reshaping Investment Terms

Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.

Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.

At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.

As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.

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

 

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Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications

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The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event

CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.

 

The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.

We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.

The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.

Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”

Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships  to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.

For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Unveils 2025 Annual Report During Group Annual Meetings in Baku

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In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.

 

The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.

Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.

I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem

The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.

Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.

Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.

The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.

Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”

The 2025 Annual Report is accessible on IsDBI website here (https://isdbinstitute.org/product/isdbi-annual-report-2025/).

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

 

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