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Equatorial Guinea Backs Saudi Arabian Calls for a Stable Oil Market

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Equatorial Guinea

At a time when global oil markets are experiencing significant volatility, member countries of OPEC+ have the means to address these challenges, and Equatorial Guinea will continue to support efforts to improve market stability

JOHANNESBURG, South Africa, August 23, 2022/APO Group/ — 

In a recent statement, His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy of Saudi Arabia, emphasized that the Organization of Petroleum Exporting Countries (OPEC) and its allies have the commitment, flexibility and means to directly address ongoing market challenges. As thin liquidity and extreme volatility undermine the market’s core function while introducing new risks for the value chain, employing tactics to ensure market stability and reduce volatility are key, now more than ever. As the OPEC President for 2023, Equatorial Guinea fully supports HRH Prince Abdulaziz in his pursuit of stability, as do other producing countries in Africa.

Currently, the state of the global oil and gas market can be described as more of a disconnect between the paper and physical, with a lack of sufficient liquidity resulting in paper markets unable to effectively reflect the realities of physical markets. HRH Prince Abdulaziz bin Salman offers a clear explanation, emphasizing that “in a way, the market is in a state of schizophrenia, and this is creating a type of yo-yo market, sending erroneous signals at times when greater visibility and clarity and well-functioning markets are needed more than ever to allow market participants to efficiently hedge and manage the huge risks and uncertainties they face.”

Essentially, this disconnect has significantly impacted market operations, a trend which has only been amplified with the “unsubstantiated stories about demand destruction, recurring news about the return of large volumes of supply, and ambiguity and uncertainty about the potential impacts of price caps, embargoes and sanctions.” As such, the need to address this disconnect and usher in a new era of market stability and growth is of uttermost importance, and OPEC+ represents the solution.

For Africa, ushering in stability will not only be key for mature and emerging oil and gas markets, but will reduce risks for market participants

“Over the last two years, OPEC+ have made clear its role in stabilizing and strengthening global oil and gas markets, and in 2022, this will only continue. As HRH Prince Abdulaziz bin Salman stated, OPEC+ have the means to create stability, whether this is through production cuts or any other method. As an OPEC member and the 2023 organization President, Equatorial Guinea fully supports OPEC+ and the methods it employs to ensure stability,” stated H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, adding that, “Producing markets in Africa have and will continue to support the calls for market stability and the reduction in volatility. For Africa, ushering in stability will not only be key for mature and emerging oil and gas markets, but will reduce risks for market participants, allowing them to efficiently hedge and manage uncertainties. As many countries in Africa begin their journeys towards becoming producers, ensuring well-functioning markets will be key.”

As HRH Prince Abdulaziz bin Salman states, “witnessing this recent harmful volatility disturb the basic functions of the market and undermine the stability of oil markets will only strengthen our resolve.”

The African Energy Chamber fully supports and endorses this position.

Distributed by APO Group on behalf of African Energy Chamber.

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African Petroleum Producers’ Organization (APPO) Chief Ghezali to Bring Pan-African Energy Perspective to Libya Energy & Economic Summit (LEES) 2027

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Etu Energias

APPO Secretary General Farid Ghezali will join government, industry and investment leaders in Tripoli as Libya targets higher oil and gas production and seeks to attract new capital into its upstream sector

TRIPOLI, Libya, September 2, 2026/APO Group/ –Farid Ghezali, Secretary General of the African Petroleum Producers’ Organization (APPO), will speak at the Libya Energy & Economic Summit (LEES) 2027, taking place January 23–25 in Tripoli, adding a senior continental voice to discussions on the country’s next phase of energy development.
 




 

The announcement comes as Libya seeks to raise oil and gas production and attract new investment across its upstream sector. The National Oil Corporation (NOC) reported crude output of 1.44 million barrels per day (bpd) in June 2026, while targeting 1.5 million bpd in the near term and 2 million bpd over the longer term. Meeting these targets will require further investment in exploration, field development, infrastructure and production capacity.

Against this backdrop, Ghezali’s participation at LEES 2027 will bring a pan-African perspective to the event, with the organization representing African oil-producing countries and promoting cooperation on petroleum policy, investment, technology, capacity building and the development of the continent’s hydrocarbon resources.

His participation also comes as APPO’s engagement with Libya deepens. Tripoli hosted the organization’s 2026 Training Officials Forum, reinforcing Libya’s role in continental energy cooperation. At LEES 2027, Ghezali will contribute to discussions examining how Libya can translate its resource base and production ambitions into new investment, partnerships and energy-sector growth.

The fifth edition of LEES will bring together governments, national oil companies, international operators, investors and service companies to explore opportunities across Libya’s oil and gas sector, alongside power and renewable energy. With Libya seeking to expand production while attracting the capital and technical expertise required to unlock new resources, the summit will provide a platform for dialogue between African producers and the international investment community.

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

 




 

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Oil & Gas Arbitration in Africa Moves Up the Investor Agenda at African Energy Week (AEW) 2026

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African Energy Chamber

A dedicated Upstream E&P Forum panel will examine how resource nationalism, ESG requirements and geopolitical disruption are reshaping dispute resolution across Africa’s oil and gas sector

CAPE TOWN, South Africa, September 2, 2026/APO Group/ –As African governments seek greater state participation, higher local content and a larger share of resource revenues, the terms governing oil and gas investments are changing across the continent. Since 2014, 31 African countries have reformed their mining and petroleum codes, creating new commercial and regulatory considerations for international investors. The resulting environment is placing greater emphasis on how upstream agreements anticipate regulatory change, protect investments and resolve disputes when commercial assumptions shift.
 




 

African Energy Week (AEW) 2026, taking place October 12–16 in Cape Town, will bring this issue into focus through a dedicated session at the Upstream E&P Forum: Resource Nationalism, ESG and Investor Protection: The New Frontier of Oil and Gas Arbitration in Africa. Sponsored by Africa-focused legal and advisory firm CLG, the panel will bring together operators, investors, legal practitioners and government representatives to examine how commercial agreements can be structured to manage disputes before they escalate.

Nigeria provides a clear example of how the legal architecture around upstream investment is evolving. The Petroleum Industry Act, enacted in 2021, overhauled the country’s petroleum fiscal and regulatory framework, changing the terms governing production-sharing contracts, joint ventures and other upstream arrangements. Nigeria has also strengthened its dispute-resolution framework through the Arbitration and Mediation Act of 2023, while the Nigerian Upstream Petroleum Regulatory Commission has promoted an Alternative Dispute Resolution Center designed to provide a sector-specific mechanism for resolving upstream disputes.

You cannot do a deal in Africa today without thinking seriously about how you would resolve a dispute if the terms change

Senegal illustrates another dimension of the challenge. Following first oil at the Sangomar field in 2024 and a rapid production ramp-up, the government established a commission to review existing oil and gas contracts with operators including Woodside and bp. While governments retain the sovereign right to review their resource agreements, such processes can alter the commercial assumptions underpinning investments and raise questions around stabilization provisions, production-sharing terms and other contractual protections.

Across parts of West Africa, political transitions, security disruptions and changes to mining and petroleum legislation are adding further uncertainty for investors. At the same time, geopolitical shocks and shifting global energy policies are testing agreements that were negotiated under very different market conditions. For companies committing billions of dollars to long-life upstream projects, the ability to anticipate and manage those changes has become an increasingly important component of investment decisions.

Arbitration remains a central tool. A review by Nigerian law firm OAL found that by 2025, most cross-border oil, gas and power agreements in Africa expressly identified arbitration as the preferred dispute-resolution mechanism. At AEW 2026, the Upstream E&P Forum panel will examine why arbitration continues to dominate cross-border energy contracts and how bilateral investment treaties, domestic legislation, ESG obligations and changing regulatory requirements interact when disputes arise.

“You cannot do a deal in Africa today without thinking seriously about how you would resolve a dispute if the terms change. We’re increasingly seeing arbitration planning as part of the commercial conversation from the start, and rightly so,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “That commercial focus is central to AEW 2026, which brings governments, investors, operators and legal experts together to address the practical conditions required to unlock the continent’s next wave of energy investment.

The Resource Nationalism, ESG and Investor Protection session will examine the intersection of contractual protections, regulatory change, political risk and the technical complexities of energy projects, giving investors and governments a practical forum to consider how stronger dispute-resolution frameworks can support Africa’s next generation of oil and gas investment.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Project & Investment Network and African Infrastructure Elites: A stronger platform for African project visibility

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Project

The Project & Investment Network is a dedicated meeting ground for project developers, financiers, investors, utilities, municipalities, commercial and industrial energy users and strategic partners active in Africa’s power, energy and water sectors

 




 

CAPE TOWN, South Africa, September 2, 2026/APO Group/ –Africa’s power, energy and water sectors need more than good ideas. They need visibility, credibility, structured engagement and the right capital connections.

The Project & Investment Network (https://apo-opa.co/4qPyeal) (P&IN), created by VUKA Group, supports this by creating a curated environment where project owners can present opportunities and investors can identify high-potential developments aligned with their mandates. With African Infrastructure Elites (https://apo-opa.co/4h4j2mu) as Host Media Partner, these opportunities gain additional reach through one of Africa’s trusted power, energy, water and utility media platforms.

This partnership helps bridge a persistent gap in the market: strong projects need access to capital and investors need credible, well-positioned opportunities.

The Project & Investment Network is a dedicated meeting ground for project developers, financiers, investors, utilities, municipalities, commercial and industrial energy users and strategic partners active in Africa’s power, energy and water sectors.

Through this collaboration, African Infrastructure Elites will support The Project & Investment Network by amplifying the projects, people and investment conversations shaping Africa’s infrastructure future.

Upcoming opportunities to participate

P&IN will create opportunities for project owners and investors to engage across VUKA Group’s upcoming power, energy and water events:

Project & Investment Network Open: 23 October 2026, Serengeti Golf Club, Johannesburg, South Africa: Register your interest (https://apo-opa.co/4ygw8D6) in participating in the Open.

C&I Energy + Storage Summit Johannesburg: 28 – 29 October 2026, The Maslow Hotel, Sandton, Johannesburg, South Africa: A targeted platform for South Africa’s commercial and industrial sector, co-located with a C&I-focused Water Security Africa programme and the EIUG Conference. Find out more (https://apo-opa.co/4qTkLyv).

Enlit Africa: 11 – 13 May 2027, CTICC, Cape Town, South Africa: Africa’s leading power, energy and water conference and exhibition, hosted annually at the CTICC in Cape Town and attended by thousands of sector stakeholders from across the continent and beyond. Find out more (https://apo-opa.co/4yal5v6).

Water Security Africa: 11 – 13 May 2027, CTICC, Cape Town, South Africa: Co-located with Enlit Africa, this platform explores the water-energy-food nexus and the solutions needed to strengthen water resilience across Africa. Find out more (https://apo-opa.co/4zOtF4e).

Submit your project

Do you have a power, energy, water or infrastructure project seeking visibility, finance or strategic partners? Submit your project (https://apo-opa.co/4qPyeal) to the Project & Investment Network.

Apply as an investor

 

Are you looking for credible project opportunities across Africa’s power, energy and water sectors? Apply to participate as an investor (https://apo-opa.co/4qPyeal) in the Project & Investment Network.

For sponsorship enquiries, please contact Marcel du Toit: marel.dutoit@wearevuka.com

Why Africa Infrastructure Elites matters

The African Infrastructure Elites (https://apo-opa.co/4h4j2mu) is an annual initiative by ESI Africa that recognises the projects, leaders and innovations shaping Africa’s power, energy, water and transport markets. The platform profiles the people and projects driving measurable impact across the continent, from generation, transmission and distribution to water, storage, clean energy, infrastructure, mobility and sector-coupling solutions.

For project owners, being associated with Elites creates long-term visibility among decision-makers, policy influencers, technical specialists and investment stakeholders. For investors, it provides a trusted lens into the projects, companies and leaders advancing Africa’s energy, water and transport priorities.

Nominations for the 11th African Infrastructure Elites: Projects and People Magazine are open (https://apo-opa.co/3UQS6xY) until the 2nd of October 2026.

The theme for the 2026/27 edition, Access and Affordability Empowers Security for All, speaks directly to one of Africa’s most pressing development imperatives. Reliable and affordable access to electricity, clean water, sanitation and sustainable transport remains fundamental to economic growth, social wellbeing and long-term resilience.

Distributed by APO Group on behalf of VUKA Group.

 




 

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