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Chevron’s Local Engagement Strategy in Africa Sets the Standard for International Oil Companies (IOC) Operating on the Continent

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African Energy Chamber

From Nigeria to Angola, Chevron’s sustainability reporting outlines ambitious commitments – but whether those promises translate into real economic participation will be under the spotlight at African Energy Week 2026

CAPE TOWN, South Africa, March 18, 2026/APO Group/ –As global energy companies expand local engagement reporting frameworks, a central question remains: how closely do sustainability commitments align with on-the-ground impact? For IOCs operating in Africa, the answer increasingly depends on whether local engagement principles translate into local economic participation, infrastructure development and technology transfer. For Chevron, one of the continent’s longest-standing operators, that balance is particularly visible across its operations in Nigeria, Angola and the wider region.

 

Chevron’s sustainability reporting highlights community investment, environmental protection and workforce development. In Angola – where the company has operated for nearly 70 years through its subsidiary Cabinda Gulf Oil Company – more than 90% of the workforce is Angolan, reflecting long-term efforts to localize employment and technical expertise. Over the years, Chevron and its partners have invested more than $250 million in social and community development programs across the country, supporting healthcare, education and economic initiatives.

Similarly, in Nigeria, Chevron has made local supply chains a central pillar of its local engagement commitments. Over the past decade, Chevron has spent an estimated $1 billion annually on Nigerian suppliers and service providers, directing more than $10 billion to domestic contractors and businesses. The spending supports Nigeria’s local content framework while helping build indigenous capacity across engineering, logistics and oilfield services.

Across Africa, however, local engagement reporting by IOCs is often criticized for emphasizing corporate social responsibility projects rather than deeper economic integration. While community investment and environmental initiatives remain important, African policymakers increasingly prioritize local participation in project development, procurement and energy infrastructure.

Chevron’s project portfolio illustrates both the opportunities and the challenges of bridging this gap. In Angola, the Sanha Lean Gas Connection Project – linking offshore gas fields in Blocks 0 and 14 to the Angola LNG facility – demonstrates how major energy infrastructure can contribute to domestic value creation. The project allows associated gas to be monetized rather than flared while strengthening Angola’s gas value chain and supporting long-term energy security.

Chevron’s training and development initiatives across Africa have significantly empowered local communities

Beyond Angola, Chevron continues to expand its footprint across the continent. The company maintains active exploration programs in Nigeria, holds stakes in producing assets in Equatorial Guinea and is evaluating offshore opportunities in markets such as Namibia and Algeria. As African countries look to expand oil and gas development while building stronger domestic industries, pressure is growing on international operators to ensure local engagement commitments translate into tangible economic impact.

This growing focus on implementation is one reason industry platforms are playing a larger role in shaping the conversation.

“Africa doesn’t need more sustainability reports sitting on shelves,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “What we need are partnerships that build industries, train African workers and keep more of the value from our resources on the continent. African Energy Week provides a platform for stakeholders not only to promote projects, but to ensure sustainability commitments translate into measurable outcomes.” Adding that Chevron is leading the way through its actions on the continent.

“We need partnerships that build industries, and that is exactly what Chevron is doing.”

As local engagement expectations continue to evolve, international operators like Chevron face increasing scrutiny over whether sustainability commitments translate into real economic participation. In Africa’s energy sector, the most meaningful local engagement metric may ultimately be local content – and the extent to which global companies help build lasting industries alongside their projects.

“Chevron’s training and development initiatives across Africa have significantly empowered local communities. Many individuals trained by Chevron have gone on to assume roles in public service, bringing enhanced capabilities and best practices to their work,” Ayuk states.

Furthermore, a substantial number of alumni have entered the private sector, successfully leading world-class companies, a testament to the valuable skills acquired during their time with Chevron.

“By fostering entrepreneurship, Chevron is inspiring many Africans to establish and manage their own businesses,” he concludes.

Distributed by APO Group on behalf of African Energy Chamber.

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Venezuela’s Revised Hydrocarbons Law Ties Investor Terms to Asset Type

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Etu Energias

New contract models and tiered fiscal rates give companies several routes into Venezuela, each matched to a different class of upstream asset

CARACAS, Venezuela, October 28, 2026/APO Group/ –Venezuela’s amended Organic Hydrocarbons Law has opened several distinct routes into the country’s oil and gas sector, each suited to a different type of asset and a different appetite for operational control. Heavy-oil acreage in the Orinoco Belt, mature onshore fields, offshore gas and refining are all available to international capital, and Venezuela Energy Week (VEW) 2027 will bring the companies weighing those options to Caracas to negotiate directly with PDVSA and the Ministry of Hydrocarbons.

 




 
 

The government made its pitch in Cape Town, South Africa last week, where Vice Minister of Commercial Policy Ricardo Gomez presented 303 billion barrels of proven oil reserves and 193 trillion cubic feet of natural gas at the Venezuela Global Investment Forum during African Energy Week (AEW) 2026. “The opportunities extend from upstream projects to downstream and refining,” he said, as PDVSA works toward its target of 105 definitive oil contracts by year-end.

Participation Contracts

The most direct route is the hydrocarbon productive participation contract (CPPH). Under it, a Venezuela-domiciled company operates a designated area at its own cost and risk for 25 years. With ministry approval, it can also market its share of production. Eni moved its Junín-5 heavy-oil field onto the model in September. The Italian company left its minority joint venture position to become exclusive operator of an asset holding 35 billion barrels of certified oil in place.

Joint Ventures

Companies preferring a partnership can enter a restructured joint venture with PDVSA. The state company keeps majority ownership, but can now hand operational management and marketing rights to its international partners. Mature fields are open through either structure, and their existing wells and infrastructure offer a quicker path to revenue. GeoPark took the contract route at the Bare field – a heavy-oil asset in the Orinoco Belt – under a 25-year agreement. It plans to reactivate up to 1,100 wells and lift output to around 90,000 barrels per day (bpd) by 2038.

Infrastructure Contracts

Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive

Direct ministerial contracts and strategic alliances cover oilfield services and infrastructure. Projects on offer include pipeline rehabilitation, export terminals and refinery upgrades. Domestic refineries currently process 350,000 bpd, and PDVSA aims to raise throughput to as much as 600,000 bpd in 2027.

Offshore Gas Follows Its Own Licensing Track

Offshore gas is awarded through a separate licensing process. bp, a Gold Sponsor of VEW 2027, operates the second phase of the cross-border Loran field. It holds the license in equal shares with Abu Dhabi’s XRG and Qatar’s UCC Oil and Gas Holding.

Tiered Fiscal Terms Support Investment Across the Value Chain

Each route to investment sits within a revised fiscal regime. Regulations published in July cap royalties at 30% and the integrated hydrocarbons tax at 15%, with combined rates of 20% for greenfield projects, 25% for extra-heavy oil, 30% for non-producing brownfields and 35% for producing brownfields. Qualifying offshore projects and developments incorporating upgrading or refining infrastructure may receive reductions of up to five percentage points.

“Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive,” Scott Gilbert, Non-Executive Chairman of Apertura Energy, told the AEW forum.

Companies entering through a CPPH will need a locally incorporated entity, and securing marketing authorization early gives operators greater control over revenue. U.S. companies also structure contracts around the conditions attached to Treasury general licenses, which govern how payments and contract law are handled in deals with PDVSA.

VEW 2027 will put those terms on the table in Caracas, with the Ministry of Hydrocarbons and PDVSA, both patrons of the event, meeting investors across two conference days and a day of site visits. By February, PDVSA’s year-end contracting drive is expected to have produced additional agreements, giving investors a clearer picture of how the revised contractual and fiscal frameworks are being applied in practice.

VEW 2027 takes place February 22–25 at the Simon Bolivar Convention Center in Caracas. Organized by Energy Capital & Power and taking place under the patronage of Acting President Delcy Rodríguez, PDVSA and the Ministry of Hydrocarbons, VEW is the country’s flagship oil and gas investment platform. To register or learn more about sponsorship and speaking opportunities, visit www.VenezuelaEnergyWeek.com.

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

 




 

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African Energy Chamber (AEC) Applauds Afreximbank President George Elombi as Billions in Financing Drive Africa’s Industrial Growth

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African Energy Chamber

Since assuming leadership in October 2025, Dr. George Elombi has overseen major financing commitments across Africa’s energy, mining and industrial sectors

JOHANNESBURG, South Africa, October 26, 2026/APO Group/ –The African Energy Chamber (AEC) (https://EnergyChamber.org/) has commended Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), for his decisive leadership in advancing African industrialization, energy security and economic integration. Since succeeding Professor Benedict Oramah in October 2025, Dr. Elombi has overseen a series of landmark financing commitments spanning oil and gas, critical minerals, infrastructure and manufacturing, demonstrating the growing capacity of African financial institutions to mobilize capital for the continent’s development.
 




 

“I was privileged to attend the inauguration of Dr. George Elombi in October 2025 as Afreximbank President and Chairman, succeeding Professor Benedict Oramah. Since that day, I have watched a man of few words keep the promises he made not with grand speeches, but with practical action. At this crossroads in our history, Dr. Elombi understands that leadership is not about occupying the moment. It is about shaping the future,” states NJ Ayuk, Executive Chairman, AEC.

A cornerstone of Dr. Elombi’s commitment to Africa’s energy sector is the establishment of the Africa Energy Bank (AEB) alongside the African Petroleum Producers Organization. Designed to finance large-scale energy and infrastructure projects across the continent, the AEB will use a corridor approach, prioritizing projects that deliver regional economic development across four pillars: export infrastructure, domestic infrastructure, clean cooking and power. The bank is expected to become operational within weeks and begin financing projects at the start of 2027.

At this crossroads in our history, Dr. Elombi understands that leadership is not about occupying the moment

Dr. Elombi’s work is reflected in a series of milestones reached by Afreximbank in recent months as the bank moves to advance intra-African trade, mobilize capital and bring new countries into its mission. In April 2026, South Africa acceded to the Establishment Agreement of the bank, marking the entry of one of the continent’s biggest economies into the bank’s membership. With the move, Afreximbank launched major financial interventions in the country, including a $8 billion Country Program designed to deepen economic growth. According to Dr. Elombi, South Africa’s membership builds on a strong pipeline of Afreximbank-led projects in the country, exceeding $6 billion and spanning healthcare, energy, manufacturing, financial services and mining.

Beyond South Africa, Afreximbank continues to advance financing for strategic projects across a myriad of sectors. Notable transactions include a $3.8 billion agreement with Gabon to support manganese and gold trading as well as energy development and rail infrastructure; a $25 million facility for Lilium Gold to support operations at the Boungou and Wahgnion mines in Burkino Faso; and a $1.75 billion syndicated receivables-purchase facility for Angola’s national oil company Sonangol. In Nigeria, the bank announced a $2.5 billion underwriting commitment – part of a $4 billion syndicated facility – for Dangote Petroleum and Petrochemicals as well as a $750 million reserve-based lending facility for Heirs Energies, supporting indigenous African energy capacity.

The bank was also responsible for the first-recorded Southern African energy sector transaction through the Africa Trade Gateway – a one-stop digital trade ecosystem developed by Afreximbank and the African Continental Free Trade Area. The transaction features a $5.3 million cross-border gasoil trade involving Zimbabwe. One of the most significant developments

Afreximbank’s mandate transcends energy. The bank continues to mobilize capital for infrastructure that can connect African markets, supporting continent-wide industrialization and job creation. In healthcare, the African Medical Center of Excellence in Ajuba, a landmark 170-bed specialty healthcare center developed by Afreximbank, has set a new standard in healthcare in the country. The facility treats more than 5,000 patients from over 20 countries, with plans to expand to 500 beds in the near-term.

“This is more than a list of transactions; it is a practical expression of economic sovereignty, financing African businesses, moving African commodities, developing African infrastructure and keeping more value on the continent,” Ayuk said. “Dr. Elombi is running his race. He is not chasing applause; he is building momentum. He knows that Africa’s future will be secured by institutions that are bold enough to invest, disciplined enough to deliver, and confident enough to believe in Africa’s own capacity.”

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Libya Energy & Economic Summit (LEES) 2027 Places Infrastructure at the Center of Libya’s Energy Expansion with Dedicated Forum

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From gas processing and ports to downstream infrastructure and regional pipelines, LEES 2027 will examine the infrastructure required to support Libya’s next phase of energy growth

TRIPOLI, Libya, October 26, 2026/APO Group/ –Libya’s push to expand oil and gas production is creating a parallel requirement for investment in the infrastructure needed to process, transport and commercialize additional energy supplies. With more than $20 billion committed to the Waha concessions alone and major gas, industrial and logistics projects advancing, infrastructure integration is emerging as a key component of the country’s investment agenda.

 




 
 

Against this backdrop, the Libya Energy & Economic Summit (LEES) 2027, taking place January 23–25 in Tripoli, will feature a dedicated Infrastructure and Integration Forum. The forum will examine how Libya can convert its growing resource base into productive domestic infrastructure and stronger regional ties.

As Libya seeks to process more hydrocarbons domestically and capture greater value from refined products, the country’s National Oil Corporation (NOC) is pursuing refinery modernization and expanded petrochemical manufacturing. That strategy is being reinforced by upstream expansion, including a more than $20 billion, 25-year Waha development deal with TotalEnergies and ConocoPhillips targeting up to 850,000 barrels per day (bpd) of additional capacity.

Meanwhile, the National Development Agency has signed 13 agreements with Chinese companies for projects at the 1,000-hectare Magroun Industrial Zone, covering industrial chemicals, advancing manufacturing and construction materials. The Ministry of Industry’s 100-Day Plan is supporting the country’s wider development push through infrastructure and digital reforms aimed at improving industrial investment.

Gas provides another major infrastructure opportunity set to be showcased at LEES 2027. Eni’s $8 billion Structures A&E project is designed to move offshore gas to the Mellitah treatment plant, with infrastructure targeting 750 million cubic feet per day (mmscf/d) in 2027. The project follows the successful start-up of the Sabratha Compression Project in June 2026. Led by Eni in partnership with the NOC – through the Mellitah Oil & Gas joint venture – the project has an overall compression capacity of 440 mmscf/d.

On the maritime side, the $2.7 billion Misurata Port expansion is set to transform the facility into a major Mediterranean logistics hub, with planned capacity of 4 million containers annually and 8,400 direct jobs. The project also incorporates local supplier development, linking maritime expansion with efforts to build domestic supply chains.

Beyond domestic infrastructure Libya is strengthening its connections to regional neighbors. The country is advancing negotiations with Egypt for an 800-km Tobruk-Alexandria crude pipeline, estimated at $1.5 billion–$2 billion and targeting initial capacity of 150,000–250,000 bpd. The NOC is also working to maximize the 11-billion-cubic-meter annual capacity of the GreenStream pipeline, connecting coastal facilities in Libya to European markets via Sicily.

Taken together, these projects show an increasingly integrated Libyan investment agenda – connecting upstream production with downstream industry, gas infrastructure, logistics and cross-border energy markets. LEES 2027’s Infrastructure and Integration Forum will bring those investment opportunities together in one platform, highlighting the NOC and Ministry-led push to build the infrastructure required for Libya’s next phase of economic growth.

For more information about LEES 2027, please visit https://LibyaSummit.com/​.

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

 

 




 

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