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Angola’s Upstream Reform Offers a Blueprint for South Africa’s Emerging Hydrocarbon Market

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African Energy Chamber

South Africa’s recent regulatory steps echo Angola’s reform playbook at a moment when global exploration interest demands follow-through

JOHANNESBURG, South Africa, July 6, 2026/APO Group/ –South Africa has entered a critical phase in its upstream development. With new petroleum legislation in place, a national petroleum company established and the Karoo shale gas moratorium lifted, the country has taken important steps toward unlocking its oil and gas potential. The key question now is whether South Africa can translate policy momentum into investment, and Angola’s reform experience provides a practical roadmap for doing so.

 

In Crude Oil: Power, Turnaround and Transformation in Angola, NJ Ayuk, Executive Chairman of the African Energy Chamber, documents how coordinated legal, fiscal and structural reform reversed years of production decline in the country. The two countries operate in different contexts: Angola reformed a mature producing sector while South Africa is working to establish one. There is, however, a transferable lesson in the sequencing and institutional commitment that made Angola’s reforms effective.

Angola Prioritized Structural Reform
When President João Lourenço took office in 2017, his administration conducted a 30-day sector review that led to sustained regulatory change. The newly-established National Agency for Petroleum, Gas and Biofuels (ANPG) took over upstream regulation, a function previously housed within state oil company Sonangol alongside its commercial portfolio. This coincided with the creation of a dedicated downstream regulator, Instituto Regulador dos Derivados do Petróleos, strengthening governance across the entire hydrocarbon value chain.

On a policy front, the 2018 Natural Gas Law gave Angola its first standalone framework for gas exploration and commercialization across an estimated 11 trillion cubic feet of reserves. The Permanent Offer Regime, introduced in 2021, opened acreage for negotiation on a rolling basis rather than through periodic bid rounds, resulting in 27 block awards. Following that, the Incremental Production Law came into effect in November 2024 and targets recovery of an estimated 500 million barrels from mature assets while extending their productive life by as much as 20 years.

These reforms offer critical lessons for countries such as South Africa

These reforms quickly yielded strong results. Foreign direct investment rose by $2.59 billion in the same year Angola improved from 167th to 146th on Transparency International’s Corruption Perceptions Index. Hydrocarbon production has now been sustained above one million barrels per day, while $70 billion in planned upstream investments signal rising international confidence in Angola’s oil and gas opportunities.

“Angola’s regulatory reforms demonstrate that political will, matched with clear fiscal and legal frameworks, can transform an upstream sector within a single policy cycle. These reforms offer critical lessons for countries such as South Africa, which has the opportunity to be a first-mover in establishing a strong regulatory environment,” states Ayuk.

South Africa’s Regulatory Window is Open
South Africa has begun moving in a similar direction. The Upstream Petroleum Resources Development Act (UPRDA) was enacted in late 2024, consolidating upstream licensing and establishing a 20% mandatory carried interest for the state. The South African National Petroleum Company (SANPC) launched in May 2025, merging PetroSA, iGas and the Strategic Fuel Fund. In October 2025, the government lifted a 13-year moratorium on shale gas exploration in the Karoo Basin – estimated to contain up to 300 trillion cubic feet of shale resources.

The challenge for South Africa is implementation. Environmental litigation has blocked or delayed offshore exploration by TotalEnergies and Shell since 2022. In August 2025, the Western Cape High Court rescinded the environmental authorization for Block 5/6/7 off the southwest coast. The Brulpadda and Luiperd gas-condensate discoveries in the Outeniqua Basin, which an FTI Consulting analysis estimates could contribute up to R25 billion per year to the balance of payments, remain undeveloped.

Angola’s experience suggests that legislative reform alone does not produce investment outcomes. The country’s upstream investment trajectory followed from how quickly and consistently those reforms were applied – from the ANPG’s operational launch through to the rolling award of blocks under the Permanent Offer Regime.

With the UPRDA, the SANPC and the Karoo moratorium lift, South Africa has put its own legislative foundation in place. Whether it can match that pace of execution will determine if the current wave of exploration interest in southern Africa’s offshore basins finally extends south of the Namibian border.

Distributed by APO Group on behalf of African Energy Chamber.

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Senegal’s President and Energy Minister Confirm Official Patronage at MSGBC Oil, Gas & Power 2026

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10 hours ago

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August 18, 2026

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African Energy Chamber

MSGBC Oil, Gas & Power 2026 will take place from 1-3 December in Dakar under the High Patronage of President Bassirou Diomaye Faye and in partnership with the Ministry of Energy and Petroleum of the Republic of Senegal

DAKAR, Senegal, August 18, 2026/APO Group/ —MSGBC Oil, Gas & Power 2026 has confirmed the official participation of Senegalese President Bassirou Diomaye Faye and Minister of Energy and Petroleum Dr. El Hadji Abdourahmane Diouf at this year’s event, set to take place 1-3 December at the Centre International de Conférences Abdou Diouf (CICAD) in Dakar.

Held under the High Patronage of President Faye and in partnership with the Ministry of Energy and Petroleum, MSGBC Oil, Gas & Power 2026 reflects the Senegalese government’s commitment to advancing energy sector investment and development across the MSGBC basin.

Minister Diouf assumed office in June 2026 following the formation of Senegal’s new government, which restructured the former Ministry of Energy, Petroleum and Mines into separate portfolios to place dedicated institutional focus on the country’s expanding hydrocarbons sector. He previously served as Minister of Higher Education, Research and Innovation and as Minister of the Environment and Ecological Transition.

Their participation comes as Senegal consolidates its position as a new oil and gas producer. The Sangomar field produced 17.9 million barrels in the first half of 2026, while the Greater Tortue Ahmeyim LNG project – shared with Mauritania – is now operating at full capacity following its first export cargo in early 2025.

Organized under the theme Powering Investment, Delivering Prosperity: Executing the Region’s Energy Strategy, MSGBC Oil, Gas & Power 2026 will convene heads of state, ministers, investors, operators and development partners to shape the next phase of energy investment across Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.

For more information and registration, visit www.msgbcoilgasandpower.com https://apo-opa.co/4xL10v4.

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

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Energy Intensive Users Group of Southern Africa (EIUG) and VUKA Group announce joint EIUG Conference and C&I Energy + Storage Summit

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10 hours ago

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August 18, 2026

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Energy

The EIUG Conference will provide a platform for open dialogue on electricity industry challenges and opportunities

JOHANNESBURG, South Africa, August 18, 2026/APO Group/ –The Energy Intensive Users Group of Southern Africa (EIUG), together with VUKA Group (https://WeAreVUKA.com/), will co‑host the EIUG Conference alongside the C&I Energy + Storage Summit, created by VUKA Group, on 28–29 October 2026 at The Maslow Hotel, Sandton.

The EIUG Conference is more than a gathering – it is a platform to shape South Africa’s industrial energy future

The EIUG Conference will provide a platform for open dialogue on electricity industry challenges and opportunities. It will bring together government, industry leaders, energy‑intensive consumers, and service providers to exchange perspectives, strengthen industrial competitiveness, and explore solutions for South Africa’s energy future.

The two‑day programme features ministerial and industry keynotes, panel discussions on tariff escalation, carbon tax, CBAM, and electricity market reforms, as well as masterclasses on financing, digitalisation, grid security, and hydrogen development.

Delegates will also benefit from networking functions, case study presentations, and practical workshops designed to accelerate the just energy transition.

“The EIUG Conference is more than a gathering – it is a platform to shape South Africa’s industrial energy future,” says Fanele Mondi, EIUG CEO. “ By bringing together government, industry, and service providers, we aim to foster open dialogue and practical solutions that support competitiveness, sustainability, and resilience.”

For more information, visit EIUG Conference (https://apo-opa.co/4x0Wzwd).

Distributed by APO Group on behalf of VUKA Group.

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JSCCIB Joins Forces with Public Sector and World Bank to Launch “The Bangkok Business Summit 2026: Reinvent Thailand, Resilient ASEAN”

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16 hours ago

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August 18, 2026

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Bangkok Business Summit

Driving the Thai Economy and Charting New Strategic Pathways for the Future of ASEAN
BANGKOK, THAILAND – Media OutReach Newswire – 18 August 2026 – The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB), comprising the Thai Bankers’ Association, the Board of Trade of Thailand, and the Federation of Thai Industries, in collaboration with the Ministry of Finance, the Bank of Thailand, the National Economic and Social Development Council (NESDC), and the World Bank, has announced its readiness to convene a high-level leadership conference, ‘The Bangkok Business Summit 2026,’ under the theme ‘Reinvent Thailand, Resilient ASEAN.’

To be held at the Queen Sirikit National Convention Center (QSNCC), the summit will showcase the vision of public-private sector collaboration aimed at restructuring Thailand’s economy. This event serves as a milestone paving the way toward the IMF-World Bank Group Annual Meetings 2026, which Thailand will proudly host in Bangkok in October 2026, as well as Thailand’s upcoming ASEAN Chairmanship in 2028.

A key highlight of The Bangkok Business Summit 2026 includes a keynote address entitled ‘Thailand’s Offer to the World’ by Mr. Anutin Charnvirakul, Prime Minister of Thailand. The address will declare Thailand’s readiness as a global investment hub, shifting the nation from cost-based competition to enhancing capabilities, innovation, and digital infrastructure. Furthermore, Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, will deliver a policy address on ‘Unlocking the Next Growth Engines for Thailand & ASEAN,’ revealing policy reform steps designed to unlock private sector investment and drive the country’s new economic engines. Professor Dr. Yodchanan Wongsawat, Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation, will address positioning Thailand as a regional investment platform for high-tech industries.

Mr. Payong Srivanich, Chairman of the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB), stated that this event aims to answer a critical question: How can Thailand transform global shifts and its central location in ASEAN into new opportunities for investment, job creation, and sustainable growth?

“The Bangkok Business Summit 2026 is not merely a platform for exchanging perspectives, but a venue where Thailand presents its concrete strengths, opportunities, and development directions to the global business community—bridging the government’s vision, recommendations from international organizations, and the practical expertise of the private sector,” Mr. Payong stated.”Thailand’s challenge today is not just growth, but building competitive growth in a rapidly changing world. We need a platform for collaborative efforts to ‘Reinvent Thailand’ by creating new economic engines and elevating our competitiveness so Thailand can capture new opportunities and become an integral part of a ‘Resilient ASEAN’ capable of adapting to global dynamics.”

Key Highlights & Session Overview

Special Keynote: Mr. Vitai Ratanakorn, Governor of the Bank of Thailand, will present on ‘Thailand’s New Horizons: From Ambition to Delivery.’
Global Insights Panel: Featuring in-depth discussions with Mr. Carlos Felipe Jaramillo, World Bank Vice President for East Asia and Pacific, Mr. Sarvesh Suri, Regional Vice President for Asia and Pacific, The International Finance Corporation (IFC), and Mr. John W.H. Denton, Secretary General of the International Chamber of Commerce (ICC) exchanging views on economic trends, investments, and business opportunities.
Report Launch: Launch of the World Bank’s latest report, ‘Building Thailand’s Future Today: The Investment and Growth Playbook.’ The report proposes a roadmap for Thailand to achieve high-income country status through investment and reforms that create jobs, boost productivity, and lay the foundation for long-term growth, highlighting potential industries such as advanced manufacturing, sustainable & wellness tourism, digital services, agriculture & food, and the creative economy.
Luncheon Discussion: Thai Beverage Public Company Limited will host a special session entitled ‘Growth Reaches Communities: Sufficiency Economy Philosophy,’ presenting the Sufficiency Economy Philosophy as a framework that creates balance, strength, and sustainability from local communities to the business sector and macroeconomy.
Afternoon Tracks

Track 1: Building Resilience (Infrastructure, Energy, and Digital Finance): Led by Mr. Piti Disyatat, Deputy Governor for Monetary Stability, Bank of Thailand, in building competitiveness and the ability to attract future industries to the country. The session will include discussions on the topics of ‘Efficient Energy & Low-Carbon Infrastructure’ and ‘Policy Architecture and Low-Carbon Cities in Action’ focusing on investing in key infrastructure that will drive the industrial transition to a low-carbon society, with leaders from various sectors, including the Ministry of Energy, the Ministry of Natural Resources and Environment, PTT Public Company Limited, Gulf Energy Development Public Company Limited, Siam Cement Public Company Limited, Thai Airways Public Company Limited, and Google LLC and the topic of ‘Building Thailand’s Trusted Economy: Digital Public Infrastructure for Inclusive Growth,’ focusing on digital public infrastructure in the financial sector for sustainable growth, and safe and inclusive digital finance, with senior executives from Bangkok Bank, Krungsri Bank, TMBThanachart Bank, and Ascend Money.
Track 2: New Horizons (Future Industries, Agri-Food, and Human-Centric Economy): Led by Professor Dr. Yodchanan Wongsawat, Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation, focusing on developing high-potential talent within organizations and positioning Thailand as a regional investment platform for high-tech industries, semiconductors, AI infrastructure, and advanced R&D.
Additionally, the Bangkok Business Summit 2026 will feature a panel discussion titled ‘The Future of Agrifood Business.’ Under the concept of Elevating to a Regional Strategic Asset, leaders from top companies including Sea Value PCL and Olam Agri (Singapore) will share their perspectives on how Thailand’s agrifood industry is evolving beyond its traditional role as the ‘Kitchen of the World’ to become a vital strategic asset for regional food security, and another discussion on ‘The Future of the Human-Centric Economy,’ integrating health, wellness, tourism, and the creative economy centered around people rather than isolated sectors. Panelists include Minor International, Bangkok Dusit Medical Services (BDMS), and Cerecin.

Closing & Actions

To conclude the summit, leaders from the three JSCCIB member organizations will summarize actionable proposals to transform insights into concrete practices. These encompass enhancing competitiveness, building investment ecosystems, and developing future industries. The event will culminate in the signing of a Letter of Intent for Cooperation on the Digital & AI Compact between Thailand’s economic agencies and the World Bank.

 

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