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Angola’s Minister Diamantino Azevedo to Join Exclusive Fireside Chat at Angola Oil & Gas (AOG) 2025

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During Angola Oil & Gas 2025, Minister Azevedo is expected to outline the country’s strategies for transforming the oil and gas market

LUANDA, Angola, June 24, 2025/APO Group/ –Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, will deliver a keynote address at this year’s edition of the Angola Oil & Gas (AOG) conference – taking place September 3-4 in Luanda. Minister Azevedo will also participate in an exclusive Fireside Chat, where he is expected to outline the country’s bold agenda to sustain oil production, accelerate non-associated gas projects while unlocking greater economic opportunities through the oil and gas industry.

As the premier event for the country’s oil and gas sector, AOG takes place on the eve of Angola’s 50 years of independence in 2025, celebrating 50 years of sovereignty and hydrocarbon leadership. Examining how oil and gas investments have shaped the last five decades, the event explores how policy reform, foreign investment and local innovation will drive the next 50 years of development. The event will unpack the country’s $60 billion upstream investment drive, plans for 445,000 barrels per day (bpd) in refining capacity, youth- and women-led innovations and cross-sector infrastructure projects. Minister Azevedo’s insights will support dialogue and deals by outlining governmental strategies for transforming the market.

Under the leadership of Minister Azevedo, Angola has seen rapid project advancement in recent years, with a 2025-2028 project pipeline expected to bolster production even further. Major projects include the first phase of the Cabinda refinery – starting in 2025 with a capacity of 60,000 bpd -; the New Gas Consortium’s non-associated gas project (2026); the Agogo Integrated West Hub Development (2026); and the Kaminho deepwater development (2028). Frontier exploration is expected to kick-off in 2025 at the Etosha-Okavango basin while independents pursue development opportunities in the onshore Kwanza basin. The country is also expected to launch its next licensing round in 2025, offering ten blocks for exploration in the offshore Kwanza and Benguela basins. These developments are expected to accelerate industry growth while attracting new players to the market.

Looking back, regulatory reform has served as the cornerstone of Angola’s 50 years of oil and gas growth, laying the foundation for sustained investment, local partnerships and long-term commitments by international operators. A six-year licensing round launched in 2019 paved the way for 41 concessions to be awarded to a multitude of international and regional companies, while the introduction of marginal field opportunities has created new pathways for independents. The country currently has five marginal fields available, two of which are situated in Block 4 while additional field opportunities lie in Block 14, Block 15 and Block 18. Backed by supportive policies, these fields offer accessibility for smaller E&P firms looking at either expanding their presence or entering the Angolan upstream market. Beyond this, Angola also introduced an Incremental Production Initiative in 2024 to encourage major operators to reinvest in mature assets. ExxonMobil made a discovery as the Likembe-01 well in 2024 – the first under the initiative. The country also offers blocks under its permanent offer program, enabling companies to invest out of the confines of a traditional licensing round.

These reforms are expected to continue enticing investment into the market as Angola ushers in a new era of development. The next 50 years will be determined by upcoming policies, which aim to strengthen domestic value chains and encourage greater local participation across the industry. Notably, Angola is preparing to launch its Gas Master Plan (GMP), aimed at diversifying the industry and creating expanded investment opportunities. The GMP is a 30-year strategy designed to attract investment across the gas value chain, offering a clear policy framework to entice non-associated gas development, enhance fuel security while supporting the creation of domestic gas markets. The country is also eyeing the possibility of extending its multi-year licensing strategy beyond 2026. This creates new opportunities for companies as the country targets frontier development and revitalized onshore production. At AOG 2025, Minister Azevedo’s insights will offer greater clarity on how the government is expected to work with foreign operators, strengthen the business environment while creating a regional petroleum hub in Angola.

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Distributed by APO Group on behalf of Energy Capital & Power

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Africa Finance Corporation Appoints Central Bank of Nigeria (CBN) Governor Yemi Cardoso as Chairman of the Board

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Mr Cardoso’s appointment comes as AFC continues to expand its role in financing and developing strategic infrastructure assets that address Africa’s infrastructure gap, accelerate industrialisation and strengthen regional integration

LAGOS, Nigeria, October 14, 2026/APO Group/ –Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, announces the appointment of Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), as Chairman of its Board of Directors. He succeeds the immediate-past Chair, Ireti Samuel-Ogbu, who served the Corporation meritoriously during her tenure and continues to serve as a board member.

 




 
 

Mr Cardoso brings extensive experience spanning international banking, investment management, economic policy and public sector leadership. Since assuming office as Governor of the CBN in September 2023, he has led a far-reaching programme of monetary, financial-sector, and institutional reforms to restore macroeconomic stability, strengthen policy credibility, and rebuild investor confidence in Nigeria’s economy.

Under his leadership, the CBN has implemented significant reforms to Nigeria’s foreign exchange market, addressed longstanding foreign exchange obligations, strengthened monetary policy transmission, and enhanced institutional governance and transparency. The Bank has also concluded a recapitalisation programme for the banking sector, aimed at strengthening the resilience and capacity of Nigeria’s financial system to support sustainable economic growth.

I look forward to working with the Board, management and member states to advance The Africa We Build 2050

Prior to his appointment as Governor, Mr Cardoso built a distinguished career in international banking and public service, including a 12-year tenure as Chairman of Citibank Nigeria and service as Commissioner for Economic Planning and Budget in Lagos State. In the latter role, he contributed to economic planning and fiscal management in one of Africa’s largest economies. He holds a degree from Aston University in the United Kingdom and a master’s in public administration from Harvard Kennedy School, where he also served on the Alumni Board.

Mr Cardoso’s appointment comes as AFC continues to expand its role in financing and developing strategic infrastructure assets that address Africa’s infrastructure gap, accelerate industrialisation and strengthen regional integration. His experience in financial sector reform, institutional governance and capital markets will provide valuable perspective on the Corporation’s strategic direction as it mobilises investment to unlock Africa’s economic potential.

Samaila Zubairu, President & CEO of AFC, said: “We are delighted to welcome Mr Cardoso as our Board Chairman. He shares our conviction that Africa’s lasting stability depends on its productive capacity. His leadership will strengthen AFC as we advance The Africa We Build 2050, mobilising African capital to build the infrastructure and industries that create jobs, prosperity and dignity for our people. We also sincerely thank Mrs Samuel-Ogbu for her dedication and contribution to AFC’s board during her tenure.”

Mr. Cardoso commented on his appointment, saying: “A more productive Africa is a more stable Africa. AFC has the credibility and track record to mobilise capital and build the infrastructure and industries that drive transformation. I look forward to working with the Board, management and member states to advance The Africa We Build 2050. Our measure of success must be the productive capacity we create, the industries we enable and the jobs we support.”

AFC continues to advance transformational infrastructure and industrial investments across Africa, with recent milestones including achieving financial close on the US$753 million Lobito Corridor Railway Project in Angola, to support the rehabilitation, upgrade, and long-term operation of the 1,300-kilometre brownfield rail corridor; supporting a US$600 million facility for Dangote Group’s US$7 billion fertiliser expansion programme to scale production in Nigeria; and committing to a combined US$300 million investment alongside Vision Invest in WIOCC Group to accelerate the expansion of critical digital infrastructure across the continent. These investments reflect AFC’s unique approach to developing strategic infrastructure platforms that connect markets, strengthen industrial value chains and mobilise capital at scale to drive Africa’s economic transformation.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

 




 

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Ghana Targets End to Liquid Fuel Purchases for Power as Gas Supply Expands

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Ghana, Senegal and the GECF outlined how African producers can grow domestic gas use alongside exports at the GECF-AEC Strategic Forum

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Ghana expects to stop procuring liquid fuels for power generation next year, John Jinapor, Minister for Energy and Green Transition, said during a Gas Exporting Countries Forum (GECF)-hosted strategic session at African Energy Week (AEW) 2026 in Cape Town. Ghana has already cut its liquid fuel purchases for electricity from eight cargoes to two, he said, as domestic gas and imports from Nigeria replace diesel and heavy fuel oil in thermal plants.

 




 
 

Ghana’s gas policy prioritizes domestic processing, with gas directed first to power generation and then to industry, Jinapor said. The switch from liquid fuels saved Ghana about $500 million in a single year through import substitution, at a time when electricity demand is growing about 10% annually. Nigeria supplies Ghana through the West African Gas Pipeline, and he said Ghana expects to double those volumes under its current agreements. Ghana is also building a 278 km pipeline to link its main power centers, and is using a levy on pump fuel to fund LPG adoption, targeting 50% penetration within three years.

We are a gas continent before an oil continent

Senegal, which began exporting LNG in 2025, is working to balance exports with supply to its own economy. El Hadji Abdourahmane Diouf, Minister of Energy and Petroleum, said companies often prioritize export markets, leaving governments to secure domestic supply. Senegal is targeting domestic gas supply of around 150 million standard cubic feet per day by 2030, delivered through a national gas network to power plants across the country. Diouf said the network’s pipeline, which has faced delays, is expected within nine months.

Philip Mshelbila, Secretary General of the Gas Exporting Countries Forum (GECF), called the choice between exports and domestic use “a false choice.” In his address, he said: “Exports mobilize capital, revenue and investment confidence. Domestic utilization is the development multiplier.” The GECF’s Global Gas Outlook projects African gas demand will more than double, from 175 billion cubic meters in 2024 to about 374 billion cubic meters by 2055.

Panel moderator Oliver Onyekweli, Partner at McKinsey & Company, noted that only around 3% of gas commercialized in Africa is traded within the continent. Mshelbila said regional cooperation, gas storage and cross-border infrastructure will determine how resilient African markets are to future supply disruptions. He cited the Senegal-Mauritania Greater Tortue Ahmeyim project as a model.

NJ Ayuk, Executive Chairman of the African Energy Chamber, described gas as a “Swiss knife” for African development, with uses spanning power generation, petrochemicals and fertilizers. “We are a gas continent before an oil continent,” he asserted.

Ghana’s gas master plan, currently under review, sets a 15-year blueprint for the country’s gas infrastructure and budgeting.

Distributed by APO Group on behalf of African Energy Chamber.

 

 




 

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Africa Energy Bank to Begin Financing Gas Projects in Early 2027, African Petroleum Producers Organization (APPO) Says

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APPO’s new bank will prioritize regional corridors as GECF forum panelists flag a gap in domestic gas financing

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –The Africa Energy Bank (AEB) will become operational within weeks and begin financing projects at the start of 2027, Farid Ghezali, Secretary General of the African Petroleum Producers Organization (APPO), said during the technical panel of the GECF-AEC Strategic Forum at African Energy Week (AEW) 2026 in Cape Town. The bank, launched by APPO and Afreximbank, will use a corridor approach, prioritizing projects that deliver regional economic development across four pillars: export infrastructure, domestic infrastructure, clean cooking and power.

 




 
 

Ghezali said exports and domestic supply should not compete. “I come from a country where you cannot export any drop of gas if the domestic demand is not satisfied,” he said. APPO and the Gas Exporting Countries Forum (GECF) signed an agreement earlier this year to work jointly on gas corridors, and plan to harmonize transit tariffs and gas contracts across member states.

I come from a country where you cannot export any drop of gas if the domestic demand is not satisfied

The panel focused on why domestic gas markets remain underdeveloped. Rashid Ali Abdallah, Executive Director of the African Energy Commission (AFREC), said recent investment has gone largely into export terminals while regional pipelines struggle to attract funding. He called for regional financing frameworks for cross-border infrastructure, and for joint planning of gas pipelines and power transmission.

In South Africa, industrial consumers face the loss of natural gas supply within about 18 months, with only a short-term coal supply bridge beyond that, said Jaco Human, Executive Officer of the Industrial Gas Users Association of Southern Africa (IGUA-SA). The gas aggregation company was formed to pool demand, share risk and underwrite new infrastructure across the region. Human said a proposed pipeline linking the Orange Basin to Western Cape and inland markets would need around 200 petajoules of annual demand. “We have much more demand than that, so the problem is not an economic one,” he said. “Rather, it is a coordination problem.”

Abubakar Abbas, Senior Energy Forecast Analyst at the GECF, said Africa will require at least $1 trillion over the next 30 years to develop its gas resources. Per capita energy consumption on the continent is about 25 gigajoules a year, well below the global average. Abderrezak Benyoucef, Head of Energy Studies at OPEC, said OPEC expects gas to rise from 17% to 23% of Africa’s energy mix by 2050. Electricity generation is projected to grow from under 1,000 TWh to about 2,700 TWh, with half of it from gas.

The AEB is headquartered in Abuja, where Nigeria handed over the bank’s offices to APPO and Afreximbank in February.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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