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Equatorial Guinea Signs Three Production Sharing Contracts with Panoro Energy, Africa Oil Corporation

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Panoro Energy

The signing of three production sharing contracts with Panoro Energy and the Africa Oil Corporation, is a step in the right direction regarding expanding exploration in Africa

JOHANNESBURG, South Africa, February 20, 2023/APO Group/ — 

Antonio Oburu Ondo, Equatorial Guinea’s recently appointed Minister of Mines and Hydrocarbons, has awarded independent exploration and production company, Panoro Energy, a 56% participating interest and operatorship in Block EG-01 offshore the hydrocarbon-rich West African country, as well as Canadian oil and gas company, the Africa Oil Corporation, two production sharing contracts (PSC) for offshore Blocks EG-18 and EG-31.

With the PSCs, the Ministry of Mines and Hydrocarbons, under the leadership of Minister Ondo, has taken significant strides towards opening up Equatorial Guinea’s offshore basins even further, working closely with two reputable oil and gas companies to usher in a new era of hydrocarbon exploration and production.

For Panoro, the awarding of Block EG-01 enables the company to work alongside its partners in the block, Kosmos Energy (24%) and national oil company, GEPetrol (20%), to conduct subsurface studies on existing seismic data to identify and define hydrocarbon reserves available over a period of three years. Located in water depths of between 30 meters and 500 meters, Block EG-01 has indicated the presence of high-quality hydrocarbon reserves, with previous exploration activities encountering thin oil and gas pay as well as oil shows. To date, the Eocene sands and Upper Cretaceous identified in the block have been tied to producing wells in Block G – bordering Block EG-01 – where over one billion barrels of commercial oil reserves have been identified. With Panoro Energy and its partners set to extend the contract with an additional two years to conduct exploration activities, the PSC is set to drive Equatorial Guinea into a new era of oil and gas market expansion.

John Hamilton, the CEO of Panoro Energy, stated that the “awarding of Block EG-01 is a natural and complementary expansion of our portfolio in Equatorial Guinea, and is in line with our infrastructure-led exploration strategy, increasing our access to a large inventory of oil prospects and leads within tie back distance of existing production facilities for a modest financial exposure. Panoro is pleased to become an operator in Equatorial Guinea.”

With Panoro Energy’s contract in the Ceiba Field extended to 2029 and in the Okume Complex to 2034, the company’s role in driving Equatorial Guinea’s energy future is imminent

The new contract increases Panoro Energy’s contribution towards the growth of Equatorial Guinea’s energy sector. As a partner and operator in the Ceiba Field and Okune Complex – comprising six operating oil and gas wells – Panoro Energy has been crucial player in maintaining Equatorial Guinea’s energy sector stability and growth. With Panoro Energy’s contract in the Ceiba Field extended to 2029 and in the Okume Complex to 2034, the company’s role in driving Equatorial Guinea’s energy future is imminent.

Meanwhile, for the Africa Oil Corporation, the duo-PSCs enable the company to enter into the promising Equatorial Guinean market. With the agreements, the Canadian explorer will own an 80% interest in both Block EG-18 and EG-31, with GEPetrol owning a 20% interest in each. Currently, Block EG-31 has shown to contain several gas-prone prospects in shallow water depths of less than 80 meters, and is strategically situated close to existing infrastructure such as the Alba gas field and onshore Punta Europa liquefied natural gas (LNG) terminal. As such, the Africa Oil Corporation has emphasized that any future discoveries could present low-cost, low-risk gas development, thereby further consolidating the country’s position as a global LNG hub.

In Block EG-18, potentially large and highly prospective basin floor fan prospects of Cretaceous age – similar to those within the company’s portfolio in Namibia and South Africa – further enhance opportunities for sizeable discoveries. As such, President and CEO, Keith Hill, stated that, “These blocks offer high-impact value upside for our shareholders at relatively low cost, and we look forward to continued collaboration with the government of Equatorial Guinea to explore and develop its natural resources.”

While Minister Ondo is prioritizing boosting Equatorial Guinea’s oil and gas exploration and production to meet growing energy demand locally, across the region and at global scale, the partnership with both Panoro Energy and Africa Oil Corporation is a step in the right direction towards boosting the country’s energy landscape. As such, the African Energy Chamber (AEC) (https://EnergyChamber.org/), as the voice of the African energy sector, strongly supports and commends Minister Ondo’s move in setting the pace for the country’s oil and gas industry expansion by maximizing exploration activities.

“We need to drill more wells in Equatorial Guinea and the Gulf of Guinea. Panoro and Africa Oil Corp will work in a proven but underexplored oil basin in the Gulf of Guinea and it makes it exciting to see the results of their work in the near future,” stated NJ Ayuk, the Executive Chairman of the AEC.

“We have always believed that you need to invest in exploration if you want to see production of oil and gas. The move by the Minister as well as Panoro Energy and Africa Oil Corp should be commended. We strongly support the minister’s strategic response in addressing Equatorial Guinea’s natural decline in oil and gas production. We believe that the awarding of the three PSCs will bring in the much-needed investments to accelerate exploration and production in West Africa. We look forward to witnessing some new discoveries on these exciting blocks in the future,” concluded Ayuk.

Deals such as Panoro Energy and the Africa Oil Corporation’s in Equatorial Guinea will be a key focus at this year’s African Energy Week (AEW) (https://AECWeek.com/) conference and exhibition – Africa’s premier event for the energy sector – which will take place from 16-20 October in Cape Town. AEW 2023’s high-level panel discussions, deal-signings, exhibitions and exclusive networking sessions will focus on how African energy producing countries such as Equatorial Guinea can maximize oil and gas exploration and production through partnerships with local, regional and international independents and majors.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Port Community Systems (PCS) as the crisis backbone: how trade disruption makes digital port infrastructure non-negotiable (By Alioune Ciss)

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Port Community Systems

With PCS, ports can dynamically allocate resources, adjust workflows, and reprioritize cargo flows using real-time data and coordinated processes

DUBAI, United Arab Emirates, May 19, 2026/APO Group/ —By Alioune Ciss, Chief Executive Officer, Webb Fontaine (https://WebbFontaine.com).

When global trade flows normally, Port Community Systems (PCS) are often viewed as efficiency tools. They digitize paperwork, connect stakeholders, reduce delays, and improve visibility across port ecosystems. However, the true impact and strategic importance of PCS become most apparent when a crisis hits.

Whether caused by geopolitical conflict, canal restrictions, rerouted shipping lanes, cyber risk, labor disruption, or sudden regulatory shifts, modern supply chain shocks remind us that ports without strong digital coordination struggle to adapt, whereas ports with robust PCS infrastructure are better positioned to keep cargo moving. In today’s environment, PCS has become a critical infrastructure.

Disruption is not an exception anymore

Global maritime trade has entered a more volatile era where disruption is structural. Let’s review the recent events to understand the scale of impact:

  • Around 2,000 ships were reportedly stranded during the recent Strait of Hormuz (https://apo-opa.co/4dii0lb) crisis.
  • The Red Sea crisis (https://apo-opa.co/4dz5gFA) led to more than 190 attacks on vessels by late 2024, forcing widespread rerouting and increasing transit times by up to two weeks.
  • The Suez-linked corridor (https://apo-opa.co/4dz5gFA), which carries roughly 10–12% of global maritime trade, experienced sharp volume declines during the disruption.
  • Supply chains across the Middle East, Africa, and Europe faced cascading effects, including congestion, cost increases, and schedule instability.

At the same time, the global port industry itself is undergoing rapid transformation. According to the International Association of Ports and Harbors (IAPH), ports are accelerating digitalization and strengthening resilience capabilities in response to geopolitical and operational uncertainty. This is the new reality: routes shift, volumes spike, and conditions change faster than traditional systems can handle.

Why PCS matters most during a crisis

When vessel schedules collapse, or cargo volumes suddenly spike, physical infrastructure alone is not enough. Cranes, berths, gates and yards also need coordination. That is where PCS becomes the backbone of resilience.

A PCS is not just a digital tool; rather, it’s a shared operational layer. It connects shipping lines, terminals, customs, freight forwarders, transport operators, and authorities through a single data environment, enabling synchronized decision-making across the ecosystem.

Instead of exchanges through emails, phone calls, Excel files, or siloed systems that generate delays and errors, the PCS enables seamless and real-time coordination.

1. Real-time visibility across the ecosystem

When vessels are delayed or rerouted, fragmented communication becomes a liability.

PCS enables real-time visibility across:

  • vessel arrivals and berth planning
  • cargo status and documentation
  • customs readiness and inspections
  • gate operations and inland logistics

Instead of fragmented updates, stakeholders operate from a shared, trusted data environment.

When shipping lanes shift overnight, policies change, and when uncertainty increases, the strongest ports are the ones that are the most ‘connected’

In a crisis, the speed of information becomes the speed of recovery.

2. Faster decision-making under pressure

Sudden disruptions create immediate operational stress:

  • surges in transshipment volumes
  • yard congestion risks
  • inspection bottlenecks
  • inland transport delays

Without digital coordination, responses are reactive and slow.

With PCS, ports can dynamically allocate resources, adjust workflows, and reprioritize cargo flows using real-time data and coordinated processes.

3. Customs and border continuity

Cargo cannot move if border agencies cannot move.

According to joint guidance from the World Customs Organization (WCO) and International Association of Ports and Harbors (IAPH), interoperability between Customs systems and PCS is essential for coordinated border management, risk control, and secure data exchange (https://apo-opa.co/3PLcs9P).

In crisis conditions, this becomes critical. Governments must introduce new controls, risk filters, or emergency procedures quickly, without disrupting trade flows. PCS enables this  balance.

4. Trust and transparency for the market

Importers, exporters, and carriers can tolerate disruption more than uncertainty. What they need is visibility.

PCS provides transparency across the supply chain, allowing stakeholders to track cargo status, anticipate delays, and plan accordingly. This transparency builds trust and reduces the systemic risk of panic-driven inefficiencies.

Operational resilience is the key

As we all know, the classic PCS discussions focus on key KPIs such as:

  • reduced turnaround time
  • fewer documents
  • lower administrative cost
  • faster truck processing

But today, the most important KPI is “readiness”: If a major trade corridor shifts tomorrow, can your port ecosystem adapt in real time?

To answer “Yes” to this question, a future-ready PCS should include:

  • real-time event management
  • integrated stakeholder communication
  • predictive congestion alerts
  • interoperability with customs and regulatory systems
  • scalable architecture for demand spikes

“For years, ‘efficiency’ was key when it comes to PCS. However, today, the key is ‘resilience’… When shipping lanes shift overnight, policies change, and when uncertainty increases, the strongest ports are the ones that are the most ‘connected’… Therefore, we should treat PCS as a crisis backbone of trade, not an IT efficiency initiative.
[Alioune Ciss, CEO, Webb Fontaine]

The Next Evolution: Intelligent PCS

PCS is now entering a new phase. Next-generation systems are evolving into data-driven platforms that support predictive analytics, AI-enabled decision-making, and proactive risk management (https://apo-opa.co/4eQ93Rg).

In other words, today, ports need systems that help orchestrate responses. Solutions such as Webb Ports (https://apo-opa.co/42F3gqq) from Webb Fontaine reflect this shift. By connecting all port stakeholders through a unified platform, anticipating congestion before it happens, simulating operational scenarios, and optimizing resource allocation dynamically, we enable faster coordination, better visibility and more agile responses when disruptions occur.

Distributed by APO Group on behalf of Webb Fontaine.

 

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Energy

Rand Refinery Joins African Mining Week (AMW) as Silver Sponsor Amid Regional Market Expansion Strategy

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Energy Capital

African Mining Week 2026 will showcase lucrative investment, partnership, and knowledge-exchange opportunities across Africa’s gold downstream sector, as Rand Refinery intensifies its investment and expansion strategy across the continent

CAPE TOWN, South Africa, May 19, 2026/APO Group/ –Amid a strategy to expand from a South Africa-focused refiner into a pan-African downstream leader, Rand Refinery has joined African Mining Week (AMW), an Influential African Mining Conference, scheduled for October 14-16, 2026 in Cape Town, as a silver sponsor.

Rand Refinery’s participation reflects a broader strategic alignment between the company’s expansion agenda and AMW’s focus on supporting and enabling local beneficiation and promoting artisanal and small-scale mining (ASM) responsible sourcing frameworks.

 

In terms of volumes, the latest market information indicates that Africa produces 1000tpa of mined gold (more than any other continent), with large-scale mining (LSM) and ASM being almost evenly balanced (500tpa production each). On its current trajectory, African ASM volumes are expected to eclipse those of LSM.

 

The focus on ASM as a transformational imperative is valid, and Rand Refinery is an active participant in the precious metals supply chain, working alongside other upstream and downstream actors to ensure that the communities and countries with gold resources benefit in a sustainable manner.

 

Under the theme Mining the Future: Unearthing Africa’s Full Mineral Value Chain, AMW 2026 offers a critical interface between refiners, miners, regulators, and financial institutions, as African countries intensify efforts to capture more value from responsible mineral production.

 

A key pillar of Rand Refinery’s 2026 strategy is its expansion into high-growth gold markets beyond South Africa. In January 2026, the company partnered with Ghana’s Gold Coast Refinery (GCR) to support the Ghana Gold Board to locally refine artisanal and small-scale (ASM) gold and elevate responsible sourcing standards in West Africa. The partnership also positions Rand Refinery in a rapidly growing and historically fragmented supply segment: ASM operations, enabling the company to enhance traceability and strengthen compliance with global standards for ethical sourcing and anti-money laundering.

 

The partnership potentially allows the monetization of ASM supply streams in the formal gold ecosystem, complementing Rand Refinery’s established role in refining output from responsible large-scale producers. AMW 2026 represents a timely platform for the company to provide an update on its projects and contribution to Africa’s gold sector.

 

As demand for regional refining capacity expands, along with central bank buying programs, companies such as Rand Refinery will be crucial.

 

Central bank gold purchases are projected to average around 585 tons per quarter in 2026, underscoring sustained global demand. In Africa, gold now accounts for approximately 17% of total reserves – up from less than 10% in 2022–2023 – while physical holdings increased from 663 tons in 2022 to an estimated 738 tons in 2025.

 

This upward trajectory is driving demand for trusted refining and value addition services, positioning Rand Refinery as a key partner in the region. Against this backdrop, AMW provides a strategic platform for central banks and gold buyers to engage directly with one of the world’s largest integrated single-site precious metals refining and smelting complexes and strengthen regional beneficiation and national reserve strategies.

 

At AMW, Rand Refinery executives will participate in panel discussions and networking sessions, engaging stakeholders on partnership opportunities that support a more integrated, transparent and value-driven African gold ecosystem.

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

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Business

Applications open for the 2027 Meltwater Entrepreneurial School of Technology (MEST) Africa AI Startup Program

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Meltwater

Join a global community of AI entrepreneurs

ACCRA, Ghana, May 19, 2026/APO Group/ –The Meltwater Entrepreneurial School of Technology (MEST) (https://Meltwater.org), has opened applications for the second edition of the MEST AI Startup Program, a fully-funded, immersive experience designed to equip Africa’s most promising AI entrepreneurs with the technical, business, product, and leadership skills to build and scale globally competitive AI startups.

Over a seven-month training phase, the MEST AI Startup program will provide founders with hands-on instruction, technical mentorship, and business coaching from global experts to develop AI-powered solutions. The top startups will then advance to a four-month incubation period to refine products, sharpen go-to-market strategies, and secure market traction. At the end of incubation, startups have the opportunity to pitch for pre-seed investment of up to $100,000 and join the MEST Portfolio.

We are excited to support the next generation of African AI founders through training delivered by some of the most knowledgeable experts in the industry

The inaugural cohort brought together founders from seven African countries who are already building transformative AI solutions across industries. Building on the momentum of the first edition, the 2027 intake reflects MEST Africa’s continued commitment to ensuring African entrepreneurs play a defining role in the future of artificial intelligence.

According to Emily Fiagbedzi, AI Startup Program Director, the urgency of investing in African AI talent has never been greater.

“AI technology is advancing at an extraordinary pace, and meaningful participation in the global AI economy requires more than access to tools, it requires the ability to build,” she said. “This program is designed to help talented African founders develop solutions to real challenges while positioning them to compete globally. We are excited to support the next generation of African AI founders through training delivered by some of the most knowledgeable experts in the industry from organizations including OpenAI, Perplexity, Google, and Meltwater”

For the 2027 intake, the program is open to African founders based in Ghana, Nigeria, Senegal, and Kenya aged 21–35 with software development experience who want to start their own AI startup.

Apply now at https://apo-opa.co/3ReIQSI

Distributed by APO Group on behalf of The Meltwater Entrepreneurial School of Technology (MEST Africa).

 

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