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Benedict Peters and Aiteo Group: Defining an African Energy Champion

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African Energy Chamber

As an entrepreneur turned industry leader, Benedict Peters has built Aiteo into Africa’s largest indigenous energy company – expanding from Nigerian oil production to continental gas ventures and downstream infrastructure

JOHANNESBURG, South Africa, February 4, 2026/APO Group/ –Benedict Peters is one of the most influential figures in Africa’s oil and gas sector. As Founder and CEO of the Aiteo Group, he has transformed a homegrown petroleum trading company into one of the continent’s largest indigenous energy firms, navigating complex markets, strategic acquisitions and an expanding portfolio that now stretches beyond Nigeria.

 

A Vision Beyond Trading

 

Peters began his career in Nigeria’s energy sector with Ocean and Oil Services (now Oando) and MRS Oil & Gas, rising to Managing Director. These early roles provided him with hands-on experience across petroleum supply chains and operational management, laying the groundwork for his entrepreneurial leap. In 1999, he founded Sigmund Communecci, initially focused on petroleum products supply and trading. Over the next decade, the company grew into one of Nigeria’s largest operators of tank farms and storage infrastructure, with more than 250 million liters of capacity.

 

In 2008, Sigmund Communecci was rebranded as Aiteo Group, signaling a shift toward a fully integrated energy company with upstream ambitions.  Under Peters’ leadership, Aiteo now operates across the energy value chain – from production and transportation to distribution and power generation. Its most prominent asset is the NNPC-Aiteo Oil Mining Lease (OML) 29, which includes 11 oil and gas fields in Nigeria’s Niger Delta, including the historic Oloibiri field. After acquiring OML 29 and the Nembe Creek Trunk Line (NCTL) from Shell in 2015, Aiteo increased production from around 25,000 barrels per day (bpd) to roughly 90,000 bpd within a year, despite challenges from infrastructure damage and oil theft.

 

From Petroleum Marketing to Core Production

 

Aiteo’s marketing operations remain a cornerstone of the business. The company distributes gasoline, diesel, aviation fuel, kerosene and LPG through an extensive network of service stations and independent partners. This segment ensures steady revenue and maintains the company’s presence across Nigeria.

 

The company’s ambitions soon expanded beyond trading. The acquisition of OML 29 and the NCTL gave Aiteo control over significant upstream assets, forming the backbone of its production operations. Over subsequent years, production increased steadily, contributing nearly 100,000 bpd to Nigeria’s total crude output, or roughly five percent of national production.

 

Nembe Crude: A New Grade on the Global Stage

 

Under Peters’ guidance, Aiteo introduced Nembe crude, a low-sulfur, high-API gravity grade developed with the NNPC. Launched in 2023–2024, Nembe crude has been exported to refiners in Europe, marking the first time a crude grade developed and marketed primarily by Nigerian entities entered the global market.

 

The introduction of Nembe crude highlights Aiteo’s strategic focus: optimizing production assets for both domestic use and export, and demonstrating the commercial viability of indigenous Nigerian energy companies on the global stage.

Benedict Peters is all in on African energy development and prosperity for Africans

 

Operational Resilience in the Niger Delta

 

Operating in the Niger Delta presents significant challenges. Aiteo has faced infrastructure disruptions, oil theft and security-related production losses. In mid-2024, production resumed at the Nembe field following a major leak, reflecting the company’s focus on operational continuity, safety and infrastructure maintenance. These episodes underline the complexity of upstream operations in Nigeria and Aiteo’s approach to mitigating risk through infrastructure upgrades, security protocols and contingency planning.

 

Expanding Across Africa

 

While Nigeria remains central to Aiteo’s operations, Peters has pursued a pan-African strategy. The company acquired a stake in the Mazenga gas block in Mozambique, one of sub-Saharan Africa’s largest onshore gas reserves, estimated at 19 trillion cubic feet. Geological surveys and field evaluations are underway, reflecting a measured approach to developing new regional energy assets.

 

In July 2025, Aiteo signed a deal with the Government of Mozambique and state-owned Petromoc to develop a large-scale refinery capable of processing 240,000 bpd. The project aims to reduce Mozambique’s reliance on imported refined products and support regional energy distribution, representing a strategic expansion into downstream infrastructure.

 

Gas and Power Initiatives

 

Complementing its upstream and midstream operations, Aiteo is investing in gas processing and power generation. Through Aiteo Power, the company is developing gas-fed power plants in resource-rich regions of Nigeria, aiming to increase electricity supply for industrial and residential use. These initiatives reflect a broader strategy to diversify energy assets and support local economic development.

 

Recognition and Continental Ambitions

 

Peters’ leadership has earned international recognition, including being named Africa’s Oil and Gas Leader of the Year at the Forbes Best of Africa Gala in 2018, a testament to his role in building indigenous capacity within the energy sector. Under his guidance, Aiteo has followed a deliberate, strategic approach to becoming a fully integrated African energy company, balancing upstream production, downstream distribution, gas development and power generation. Today, the company produces nearly 100,000 barrels per day from its core Nigerian assets, while its Mozambican gas and downstream initiatives reflect its broader continental ambitions. Peters continues to prioritize measured expansion, infrastructure reliability, and long-term sector development, demonstrating that indigenous African enterprise can compete effectively with global majors.

 

“Benedict Peters is all in on African energy development and prosperity for Africans. For him and Aiteo, empowering the continent through sustainable energy development has been a lifelong commitment,” says NJ Ayuk, Executive Chairman, African Energy Chamber, adding “A true representation of Rudyard Kipling’s ‘If,’ Benedict Peters underscores the idea that even in positions of power, he does not lose touch with his common roots. He is a leader who can walk with kings without losing the common touch.”

 

Distributed by APO Group on behalf of African Energy Chamber.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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