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African Refining: A Promising Yet Unexploited Investment Opportunity (By Daniil Moskalev)

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10 months ago

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African Energy Chamber

By Daniil Moskalev, International Fellow, African Energy Chamber (https://EnergyChamber.org).

In recent years, the African continent has been characterized by the active commissioning of new refining capacities. However, despite this, there is a problem with the energy infrastructure on the continent, which leads to unavailability of refined products. This unavailability is both a blessing and a curse for the African continent, its people and its quest to make energy poverty history. While insufficient refining capacity creates serious challenges for domestic consumers and industry, it presents an attractive opportunity for foreign investors, many of whom have yet to fully grasp the continent’s unique advantages.

Africa: The World’s Breadbasket of Crude Oil

In 2026, the upward trend of hydrocarbon production is expected to remain positive, with the African Energy Chamber’s The State of African Energy 2026 Outlook showing that petroleum production will level at about 11.4 million barrels per day (MMboe/d), rising to about 13.6 MMboe/d by 2030. An increase in petroleum production should correspond with a rise in refining, however, ongoing capacity constraints continue to impact Africa’s refining market, leading to a reliance on imported petroleum. This impacts countries as they strive to build local industries, create jobs and develop technical expertise in the downstream sector.

Importing refined products costs African countries significantly more than processing crude oil at home, as imports involve added expenses such as shipping, insurance and other costs. With much of the continent’s refining infrastructure either obsolete or idle, there lies a critical investment opportunity for financiers and project developers.

Increased Population Mean Increased Consumption

With much of the continent’s refining infrastructure either obsolete or idle, there lies a critical investment opportunity for financiers and project developers

Beyond the current challenge of importing refined products, rapidly growing domestic demand must also be considered, as it could increase Africa’s dependence on external energy supplies. Although Africa is home to 18% of the global population, it consumes less than 5% of the world’s oil products. Sub-Saharan Africa, in particular, has the lowest per capita usage, underscoring the region’s significant potential for future demand growth ( according to information of our report). The expanding African market, driven by population growth and improving living standards, will provoke an increase in consumption. Anticipated demand growth offers strong prospects for new refining facilities. Investment in more advanced processing technologies can deliver higher returns for foreign investors while simultaneously meeting Africa’s urgent and growing demand for refined petroleum products.

Ongoing Challenges: The Case of Dangote

Market size and resource availability does not necessarily guarantee sufficient refining capacity. Take the Dangote oil refinery, for example. Even with its massive scale, this refinery will have only a limited effect on reducing Africa’s fast-rising import reliance. The continent will continue to face shortages of gasoline, diesel, and jet fuel over the forecast period. In the short-term, the capacity of Dangote refinery (617,000 bpd) could partially substitute foreign sources of refined products, but the prioritization of exports is more attractive for foreign investors, that’s why commissioning of new refinery plants does not address fuel accessibility challenges on the ground However, net imports for gasoline and gasoil will widen over the long-term against the backdrop of strong growth in demand and limited additions to refining capacity. Furthermore, the commissioning of the Dangote refinery is hugely significant for the Atlantic Basin’s oil trade due to export promotion, but it barely makes a dent in Africa’s growing requirement for imported refined products.

As stated in the African Energy Chamber’s Outlook 2026, gasoil net imports are projected to reach just under 1.8 million bpd by 2050, whereas gasoline net imports are forecast to exceed 1.5 million bpd. Relying on refined imports leaves countries vulnerable to global supply chain disruptions, shipping bottlenecks and sharp price swing risks that become even more severe during times of crisis. Therefore, the priority of developing domestic energy sovereignty should be to attract downstream investments to meet domestic demand.

So, we need to answer the questions: what can attract investors and what should we do? Foreign investments can be attracted if preferential financing conditions, a stable political environment, confidence in profitability and transparency of the terms of the agreements are provided. When these conditions are partially or fully met, large projects such as The Cabinda Oil Refinery or The Dangote Refinery are born..

What’s Next for African Refining

Given the scale of refining projects, mobilizing external financing is vital. There are several prerequisites to attract investment. Specifically, the availability of crude oil and access to a local domestic market. But countries need to look beyond this to strengthen regulatory frameworks; leverage public-private partnerships; simplify processes and reduce red tape; demonstrate openness to foreign investors; and be ready to meet companies’ half-way.

A Timely Opportunity for Strategic Investment

With political stabilization, the resolution of internal challenges and the establishment of a stable regulatory framework, the African refining market emerges as one of the most undervalued – and therefore potentially highly profitable – investment opportunity for global companies. An able workforce, a well-developed oil production system and growing demand are presented as outstanding incentives to attract investors to the continent. Strengthening the trust of external shareholders and investors can lead to an explosive development of the African oil refining industry. This can become one of the engines that drives African industrialization.

Distributed by APO Group on behalf of African Energy Chamber.

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ST Telemedia Global Data Centres Delivers on Responsible Scaling, Surpassing 2028 Carbon Intensity Target Three Years Early with Renewables at 83.2%

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July 21, 2026

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ST Telemedia

SINGAPORE – Media OutReach Newswire – 21 July 2026 – ST Telemedia Global Data Centres (STT GDC) today published its 2025 Environmental, Social and Governance (ESG) Report, setting out how the Singapore-headquartered global data centre provider is meeting accelerating demand, including from AI-driven workloads, through infrastructure that is more resilient, efficient and sustainable by design. The report highlights 83.2% renewable energy usage, a 70.5% reduction in carbon intensity from its 2021 baseline, 41.2% improvement in water usage effectiveness (WUE) from the 2020 baseline, and continued progress in embedding ESG considerations into how STT GDC designs, builds, finances and operates its data centres at scale.

The report positions responsible growth as a core business discipline for STT GDC, linking sustainability performance to long-term asset resilience, customer trust and operational excellence. Across its global platform, STT GDC is integrating ESG considerations into capital allocation, site selection, design, operations, risk management and workforce development to support reliable digital infrastructure at scale.

Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres, says, “The next phase of digital growth will be defined by how the industry resolves the tension between rising demand — particularly from AI — and the finite nature of energy, water and land. Responsible scaling is therefore not a sustainability commitment alone; it is a commercial and operational imperative that shapes where we build, how we design, and how we run our data centre platform. Our 2025 progress reflects disciplined execution of a strategy we have been advancing for years, delivering meaningful improvements in energy efficiency, emissions and resource management across our global platform. As we scale further, we will continue to advance with the same discipline — in the infrastructure we build, the governance that underpins it, and the positive impact we create for the communities and ecosystems we are part of.”

Scaling efficient, lower-carbon infrastructure

STT GDC continued to advance its decarbonisation strategy in 2025, delivering measurable reductions in emissions and improvements in resource efficiency while scaling its global data centre platform to meet rising digital demand. The Group’s approach focuses on embedding sustainability into the design and operation of its infrastructure, enabling long-term performance while managing growing energy and resource requirements. Key environmental achievements include:

Furthered renewable energy adoption, with 83.2% of electricity consumption sourced from renewables, supporting STT GDC’s transition towards carbon-neutral operations by 2030.
Reduced carbon intensity by 70.5% from the 2021 baseline, surpassing STT GDC’s 2028 target three years ahead of schedule, alongside a 15.2% year-on-year reduction in absolute Scope 1 and 2 emissions
Improved energy efficiency across operations, achieving an average Power Usage Effectiveness (PUE) of 1.44, a 13.0% improvement from the 2020 baseline, reflecting continued optimisation of data centre design and operations.
Enhanced water stewardship, with Water Usage Effectiveness (WUE) improving by 41.2% from the 2020 baseline, supported by a balanced approach to managing energy and water use in cooling systems.
Continued progress in sustainable infrastructure, with 48% of its data centres achieving green building certification, reflecting the integration of sustainability considerations across the lifecycle of its facilities.
Building a safe and future-ready workforce

As STT GDC continues to scale its global data centre platform, investing in people, safety and workforce capabilities remains central to delivering reliable and sustainable operations. In 2025, the Group maintained a strong focus on safeguarding its workforce, strengthening organisational capability and supporting the development of future-ready talent to meet the growing demands of the digital economy. Key social achievements include:

Maintained strong safety performance, with zero work-related fatalities and a Total Recordable Incident Rate (TRIR) of 0.1 across more than 41 million hours worked, reflecting robust health and safety management across construction and operations.
Strengthened workforce capability, with an average of 18 training hours per employee, supporting the development of technical, operational and leadership skills across the organisation.
Advanced diversity and inclusion, with 21.7% women representation across the Group, reinforcing ongoing efforts to build a more inclusive and balanced workforce.
Expanded talent development initiatives, including the DC Power Up programme and partnerships with 10 Institutes of Higher Learning across our markets, helping to build a pipeline of industry-ready talent for the growing digital infrastructure sector.
Deepened community and workforce engagement, through skills development programmes and industry-academic partnerships that support long-term talent development and contribute to local economic growth.
Strengthening Governance and Resilience at Scale

Strong governance, disciplined risk management and robust operational controls underpin STT GDC’s ability to scale responsibly in an increasingly complex digital environment. In 2025, the Group continued to strengthen its enterprise-wide approach to governance, embedding ESG considerations into decision-making, risk management and day-to-day operations to support long-term resilience and performance. Key achievements include:

Strengthened governance and ethical business practices, with 100% of employees completing anti-corruption training, reinforcing STT GDC’s commitment to integrity and accountability across its global operations.
Enhanced enterprise-wide risk management, incorporating climate, cybersecurity and operational risks into planning and decision-making, ensuring infrastructure resilience as the Group scales.
Advanced cybersecurity and operational resilience, including strengthened governance, technical controls and preparedness through initiatives such as executive-level cyber exercises and risk assessments across key facilities.
Improved supply chain governance, embedding ESG criteria into procurement processes and reinforcing responsible sourcing practices across its global vendor network.
Strengthened organisational alignment and execution, through the inaugural Group ESG Summit, supporting capability building and consistent application of ESG priorities across markets.
These efforts come as data centre operators face growing expectations to deliver capacity while managing energy, water, climate and cybersecurity risks with greater transparency and accountability.

STT GDC’s 2025 ESG Report reflects a continued evolution in how the Group approaches sustainable growth, with a stronger focus on disciplined execution, operational resilience and long-term performance as it scales its global platform. As digital infrastructure becomes increasingly critical to economies and societies, STT GDC will continue to embed sustainability, risk management and governance into how it designs, builds and operates its data centres.

By working closely with customers, partners and communities, the Group aims to deliver infrastructure that is not only efficient and resilient, but also capable of supporting the next phase of digital growth, including AI-driven workloads, in a responsible and sustainable way.

The full 2025 ESG Report is available at https://www.sttelemediagdc.com/about-us/our-esg-progress

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, Italy, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/

 

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Energy

London Showcase to Bring Venezuela’s Energy Opportunities to Global Investors Ahead of 2026 Summit

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6 hours ago

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July 21, 2026

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A high-level London industry showcase on July 30 will bring together UK and European investors, financiers and energy leaders to explore emerging opportunities across Venezuela’s oil, gas and power sectors ahead of Venezuela Energy Week 2026

LONDON, United Kingdom, July 17, 2026/APO Group/ –As Venezuela accelerates efforts to revitalize its energy sector and attract international investment, Venezuela Energy Week 2026 will host an exclusive Industry Showcase in London on July 30, bringing together investors, financial institutions, international oil companies, commodity traders and energy executives for market intelligence, networking and partnership development ahead of the flagship conference taking place this October in Caracas.

 

Designed as a strategic preview of the main event, the London showcase will provide UK and European stakeholders with first-hand insight into Venezuela’s evolving investment landscape while creating opportunities for commercial dialogue with industry leaders, potential partners and key decision-makers.

Home to the world’s largest proven oil reserves and significant natural gas resources, Venezuela is entering a new phase of energy development focused on increasing production, expanding gas commercialization and modernizing critical infrastructure. Ongoing reforms and renewed international engagement are creating opportunities for companies able to provide capital, technology and technical expertise.

The timing is particularly significant as several UK and European energy companies continue to strengthen their presence in Venezuela. UK-based majors Shell and BP are advancing key natural gas developments, with Shell preparing for 2027 drilling at the Dragon offshore gas project and BP signing agreements in April to develop the Cocuina-Manakin offshore gas field, marking its return to the Venezuelan market. Spain’s Repsol recently announced plans to increase production from its Venezuelan assets, while Italy’s Eni is relaunching a heavy crude project in the Orinoco Belt. France’s Maurel & Prom, meanwhile, remains a key partner in strategic assets such as the Urdaneta Oeste field. On the trading and commercialization front, Geneva-headquartered energy trader Vitol has renewed its engagement with Venezuelan crude exports, reflecting broader international interest in reconnecting the country’s resources with global markets.

Against this backdrop, the London Industry Showcase will highlight Venezuela’s re-emerging investment potential while creating a platform for strategic networking and direct engagement with government leaders, national energy companies, regulators and private sector partners.

The event is expected to attract representatives from investment funds, export credit agencies, commercial banks, private equity firms, commodity traders, engineering companies, technology providers and UK-based independent energy companies exploring opportunities across Venezuela’s energy value chain.

The showcase will also provide an exclusive preview of Venezuela Energy Week 2026, including ministerial dialogues, executive forums, technical conferences and dedicated business-to-business networking sessions designed to connect international investors with the decision-makers shaping the country’s energy future.

Taking place on October 26–29, 2026 in Caracas, Venezuela Energy Week serves as the country’s premier platform for advancing investment across the oil, gas and power sectors. By bringing the conversation to London – one of the world’s leading financial and energy centers – the Industry Showcase builds momentum ahead of the flagship event while strengthening ties between international capital and one of the world’s most resource-rich energy markets.

To participate in the London Industry Showcase on July 30 or secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com to learn more about delegate, sponsorship and partnership opportunities.

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/3RKKqfz).

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

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October 2-4, 2026, Announced as New Date for the Inaugural Alamein Africa Forum

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6 hours ago

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July 21, 2026

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The Forum which was earlier scheduled to hold in June 2026 was postponed following concerns about the evolving public health situation on the continent at the time

CAIRO, Egypt, July 17, 2026/APO Group/ —

The Government of Egypt and the African Union Commission alongside other key stakeholders and partners are pleased to announce new dates for the inaugural Alamein Africa Forum (www.AlameinForum.com).

 

The Forum which was earlier scheduled to hold in June 2026 was postponed following concerns about the evolving public health situation on the continent at the time.

The inaugural Alamein Africa Forum will now be held between October 2-4, 2026, in Alamein, Egypt following consultations between the relevant stakeholders. It will be held in parallel with the African Union mid-year Summit which will take place in Alamein on 4 October 2026.

Please accept our sincere appreciation for your understanding, flexibility and continued support.

The Forum presents a unique opportunity to engage key policy makers, including African Heads of State and Government, as well as senior leaders from finance, industry and institutional investors to advance Africa’s private sector agenda.

Additional information regarding accommodation and logistics as well as the Forum programme will be made available on the Forum website as soon as next week.

Distributed by APO Group on behalf of Alamein Africa Forum.

 

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