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African Energy Week (AEW) 2024 National Oil Companies (NOC) Lineup to Unlock Project, Partnership Opportunities in Oil and Gas

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National Oil Companies

African Energy Week: Invest in African Energy takes place next month in Cape Town

CAPE TOWN, South Africa, October 10, 2024/APO Group/ — 

African energy demand is projected to more than double by 2050, with fossil fuels anticipated to account for up to 60% of the continent’s energy mix by 2040. This trend highlights the growing importance oil and gas will continue to hold in Africa. In partnership with international oil companies and private E&P firms, the continent’s national oil companies (NOC) are responding to this projection by prioritizing fast-tracked project development, promoting collaborative exploration and production to bring new reserves online.

The upcoming African Energy Week (AEW): Invest in African Energy conference – scheduled for November 4-8 in Cape Town – features a strong lineup of African and global national oil companies (NOC). This lineup reflects a strong intention by NOCs to collaborate, unlock additional reserves and drive oil and gas projects forward across both emerging and mature markets in Africa.

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 http://www.AECWeek.com for more information about this exciting event.

Southern Africa has yielded some of Africa’s biggest oil and gas finds in recent years. Namibia – which featured a string of offshore finds since 2022 – has rapidly emerged as an oil and gas hotspot, with Galp Energias’ Mopane discovery estimated to hold 10 billion barrels alone. In South Africa, the 2019 Brulpadda discovery accounted for 10% of the overall discovered volumes in Africa that year while the Luiperd find accounted for 80% of the continent’s volumes discovered in 2020. Mature producers such as Angola also continue to unlock additional reserves, with ExxonMobil announcing a discovery at the Likember-01 research well in Block 15 this year. At AEW: Invest in African Energy 2024, Angola’s NOC Sonangol, Namibia’s NAMCOR and South Africa’s SANPC will speak on these discoveries and future opportunities.

East Africa is one of the world’s final frontiers for oil and gas exploration, with major discoveries made in recent years showcasing the potential for billion-barrel projects. In exploration, offshore basins in Tanzania have shown trillions of cubic feet of gas while onshore acreage in Uganda holds the promise of new oil supplies. While various cross-border infrastructure projects, LNG facilities and field developments are underway, the region offers significant potential for exploration. During AEW: Invest in African Energy 2024, East African NOCs including the Tanzania Petroleum Development Corporation; Uganda National Oil Company; and National Oil Company of Malawi will unpack this potential, sharing insight into ongoing projects and untapped investment opportunities.

Contrastingly, West Africa holds some of the biggest oil and gas producing markets on the continent. These include the Republic of Congo – which is diversifying its energy matric through billion-dollar gas investments; Equatorial Guinea – which is diversifying LNG feedstock through agreements signed with regional neighbors; and Gabon – which aims to boost production to 220,000 barrels per day. Concurrently, markets such as Cameroon, Liberia and Ivory Coast hold strategic potential for exploration firms, with recent finds underscoring opportunities in frontier drilling. At AEW: Invest in African Energy 2024, NOCs to the likes of Société nationale des pétroles du Congo; GEPetrol; Gabon Oil Company; and Ghana National Petroleum Corporation are participating. Additionally, the National Hydrocarbons Corporation of Cameroon; the National Oil Company of Liberia; and Petroci have joined.

While West African countries account for a large share of African hydrocarbon production, the same can be said for North Africa, with Algeria representing the largest natural gas producer in Africa. The country’s production measured over 100 billion cubic meters (bcm) in 2023, with ambitions to exceed 200 bcm in production over the next five years. During 2024, up to 8 oil and gas discoveries have been made, with the NOC Sonatrach signing several exploration agreements with the likes of TotalEnergies, ExxonMobil and more to unlock additional basins. Sonatrach is participating at AEW: Invest in African Energy 2024.

In addition to African NOCs, global counterparts including the respective NOCs of Saudi Arabia and Azerbaijan have also joined the conference to discuss investment opportunities, future collaborations and how knowledge-sharing can support the next generation of oil and gas projects. Saudi Aramco, for example, which represents one of the biggest gas producers worldwide, offers a wealth of expertise for African NOCs. Similarly, the National Oil Company of the Azerbaijan Republic, an expert in refining and infrastructure development, stands ready to support Africa as it scales-up domestic refining capacity.

Distributed by APO Group on behalf of African Energy Chamber.

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PAC Capital Limited Named Best Transaction Advisory Firm in Nigeria at the Grand Annual Awards Ceremony 2025

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As part of the PanAfrican Capital Holdings Group, PAC Capital continues to expand its footprint across Africa and globally, with a focus on impact-driven transactions that promote sustainable economic growth

LAGOS, Nigeria, April 7, 2025/APO Group/ –PAC Capital Limited (www.PACCapitalLtd.com), a leading investment banking and advisory firm, is proud to announce its recognition as the Best Transaction Advisory Firm – Nigeria 2025 by the International Business Magazine Awards!

The award celebrates PAC Capital’s consistent track record in structuring and executing high-impact transactions across various sectors, including infrastructure, energy, transport, and financial services. This international recognition highlights the firm’s commitment to excellence, innovation, and delivering value-driven advisory services.

At PAC Capital, we are committed to delivering transformative financial solutions that not only meet but exceed expectations

Humphrey Oriakhi, Managing Director of PAC Capital, expressed his pride and appreciation for the recognition:

“This award is a strong validation of our efforts to lead with insight, integrity, and innovation in the transaction advisory space. We are truly honored to be acknowledged on a global platform. I dedicate this achievement to our clients who trust us with their most strategic decisions and to our team whose dedication fuels our success.”

Bolarinwa Sanni, Executive Director of PAC Capital, emphasized the importance of collaboration and resilience in the firm’s journey:

“Winning this award reflects the strength of our advisory team and the boldness of the clients we serve. At PAC Capital, we are committed to delivering transformative financial solutions that not only meet but exceed expectations. This recognition inspires us to keep pushing boundaries and shaping Africa’s investment landscape.”

As part of the PanAfrican Capital Holdings Group, PAC Capital continues to expand its footprint across Africa and globally, with a focus on impact-driven transactions that promote sustainable economic growth.

Distributed by APO Group on behalf of PAC Capital Limited

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Intra-African Trade, Investment and Liquefied Petroleum Gas (LPG) can Address Africa’s $15B Infrastructure Gap

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Liquefied Petroleum Gas

Speaking at ARDA Week 2025, the African Energy Chamber underscored the need for aligned policies to advance downstream oil and gas projects in Africa

CAPE TOWN, South Africa, April 7, 2025/APO Group/ –NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC)  (www.EnergyChamber.org), has called for greater utilization of African financial solutions to address the continent’s $15.7 billion infrastructure deficit. With these sources of capital, the continent stands to maximize the production, processing and distribution of local oil and gas resources amid efforts to make energy poverty history by 2030.

Speaking during an event organized by the African Refiners & Distributors Association (ARDA) in Cape Town this week, Ayuk proposed tapping into the $400 billion available through Africa’s pension funds to support oil and gas projects. With this capital, Africa can advance key infrastructure projects, such as pipelines, refining facilities and power generation, ensuring enhanced intra-Africa energy trade to address energy poverty. With over 600 million Africans living without access to modern energy and 900 million people living without access to clean cooking solutions, securing greater investment is key.

As such, Ayuk called for greater regulatory reform in Africa, citing the need to advance intra-African trade through the ease of movement of products and industry stakeholders, while ensuring infrastructure sharing across the continent. He pointed out that the greatest obstacle to realizing an ‘Africa-First Vision’ is not external challenges, but rather internal, owing to outdated and restrictive regulations that hinder trade and the free movement of people across borders.

Our competition should be with international markets

“How can we move commodities across the continent yet we struggle to move people?” stated Ayuk, advocating for improved visa and immigration policies to facilitate mobility for industry stakeholders and citizens.

Ayuk also called for African policymakers to address high intra-African taxes that hinder trade, while encouraging greater collaboration between African energy markets. By addressing key challenges to trade, including lack of shared infrastructure and funding, Ayuk highlighted that the continent can achieve its downstream goals. A strategy for this is collaboration. Rather than competing against one another for limited capital, Africa can pool its resources to create an integrated value chain across the continent.

“We shouldn’t compete for capital amongst ourselves,” he said. “Our competition should be with international markets.”

Besides increasing investment in downstream infrastructure and revamping policies, Ayuk highlighted that achieving the ‘Africa First Vision’ requires fully utilizing every drop of oil and gas available on the continent to power Africa’s development. He emphasized the crucial role LPG and LNG will play in advancing access to clean cooking as well as the role of natural gas in providing baseload power for the foreseeable future.

In closing, Ayuk applauded ARDA for promoting investment in African oil and gas, despite challenges posed by the energy transition. Centered around the theme Africa First: Delivering Our Energy Future, the event sought to chart a course for energy security and industrial development through increased investments across the downstream sector across the continent.

Distributed by APO Group on behalf of African Energy Chamber

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Africa’s Strategic Diplomacy Fuels Mining Sector Growth

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African Mining Week

As Africa cements its role in global supply chains, strategic partnerships with the U.S., EU, China and more are driving investment in the continent’s mining sector, shaping the future of critical minerals and energy security

CAPE TOWN, South Africa, April 7, 2025/APO Group/ –African nations are leveraging strategic partnerships to attract investment and strengthen their mining sectors. As competition between Western and Eastern powers intensifies over critical minerals, Africa has emerged as a key player in global supply chains, balancing geopolitical interests while maximizing economic benefits. With global markets racing to secure resources for the energy transition and the Fourth Industrial Revolution, the upcoming African Mining Week will facilitate collaboration between African governments and international stakeholders.

U.S.–DRC Partnership to Unlock Mineral Wealth

In March 2025, the U.S. State Department reaffirmed (https://apo-opa.co/43JPLr8) its interest in engaging with the Democratic Republic of Congo (DRC) to unlock its estimated $1.2 trillion in untapped mineral resources. Cooperation between the two countries could yield a transformative impact on the sector, with U.S. financing and technical expertise unlocking the potential of the world’s largest cobalt producer and Africa’s largest copper producer. The U.S. has already played an active role in the financing and development of the Lobito Corridor, facilitating mineral transport and trade between the DRC, Angola, Zambia and international markets.

EU Expands Mining, Green Energy Investments

This month, the European Union (EU) pledged €4.7 billion (https://apo-opa.co/42q3265) to South Africa to support raw material value addition, the energy transition, local vaccine manufacturing and green hydrogen production. South Africa, home to the world’s largest deposits of platinum group metals (PGMs), will leverage this funding to enhance PGM production to meet growing demand for electrolysers used in green hydrogen applications. This follows South Africa’s $1 billion green hydrogen partnership with Denmark and the Netherlands established in 2023. Neighboring Namibia has also attracted European investment, with the EU committing €25 million to Namibia Hydrogen Fund Managers in September 2024 to propel the country’s green hydrogen sector. Meanwhile, Uganda is taking steps to develop its mining sector with the support of the EU and Germany’s Federal Ministry for Economic Cooperation and Development, having launched the Sustainable Development of the Mining Sector project earlier this month.

China Strengthens its Position in African Mining

China remains one of the largest investors in African mining, with both state-owned and private firms driving sector growth. In September 2024, China pledged $50 billion over three years for infrastructure and mineral development across the continent. Key projects in the DRC include CMOC’s $2.5 billion expansion of the Tenke Fungurume Mine and Sinohydro and China Railway’s $7 billion infrastructure-for-minerals deal in copper and cobalt mining. China has also invested heavily in Zimbabwe’s lithium sector and pledged $1 billion to upgrade the Tazara Railway, improving East Africa’s mineral exports.

Growing Global Interest in Africa’s Mining Sector

Beyond the U.S., EU and China, countries like Canada, Australia and the UAE are ramping up mining investments in Africa. Canadian firms are expanding their footprint in West Africa’s gold sector, Australian companies are backing lithium and rare earth projects in southern Africa and the UAE is securing stakes in critical mineral supply chains through strategic joint ventures. African Mining Week, taking place October 1-3 in Cape Town, will provide a platform for African nations to engage global investors, strengthen cooperation and accelerate resource development.

Distributed by APO Group on behalf of Energy Capital & Power

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