Gabon Oil Company’s CEO, Marcellin Simba Ngabi, will participate at the Congo Energy & Investment Forum in March 2025, outlining Gabon’s ambitious production growth plans and the critical role of regional collaboration

BRAZZAVILLE, Republic of Congo, December 16, 2024/APO Group/ — 

Marcellin Simba Ngabi, CEO of Gabon Oil Company (GOC), has been confirmed as a speaker at the Congo Energy & Investment Forum (CEIF), taking place on March 25-26, 2025, in Brazzaville. As the leader of Gabon’s national oil company, Ngabi will showcase the country’s efforts to attract investment into its oil and gas sector, including GOC’s strategies for increasing production to 220,000 barrels per day (bpd) and unlocking value from marginal fields.

During his address, Ngabi will spotlight GOC’s recent achievements, including the acquisition of Assala Energy’s assets in 2023, which expanded its portfolio with seven onshore licenses, a pipeline network and the Gamba export terminal. These developments have strengthened Gabon’s production and export capacity, highlighting the critical role of national oil companies in driving Africa’s energy ambitions.

The inaugural Congo Economic and Investment Forum, set for March 25-26, 2025 in Brazzaville, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

National oil companies like GOC play a pivotal role in transforming the continent’s energy value chain and positioning Africa as a competitive global energy leader

Gabon’s participation at CEIF reflects the broader energy cooperation and regional integration underway in Central Africa. The Republic of Congo and Gabon share critical infrastructure and opportunities to align their energy strategies, particularly in the oil and gas sectors, where cross-border projects and resource optimization can benefit both nations. CEIF 2025 will provide a platform to explore synergies, foster partnerships and discuss the role of collaborative initiatives in advancing regional energy security and development.

Furthermore, Ngabi is expected to provide insights into Gabon’s upstream growth, such as BW Energy’s rapid development of the Hibiscus South satellite prospect, which added 5,000-6,000 bpd just five months after discovery. Gabon is also advancing natural gas monetization through its Gas Master Plan, which includes Perenco’s $1 billion Cap Lopez LNG terminal, expected to come online in 2026, and the operational Batanga LPG plant, which supports flaring reduction and downstream expansion.

“Gabon Oil Company’s participation at the Congo Energy & Investment Forum reflects the importance of collaboration and innovation in advancing Africa’s energy sector,” says James Chester, CEO of Energy Capital & Power. “National oil companies like GOC play a pivotal role in transforming the continent’s energy value chain and positioning Africa as a competitive global energy leader. The inclusion of regional stakeholders like Gabon emphasizes the interconnected nature of Central Africa’s energy future and the need for unified progress.”

For more information about the Congo Energy & Investment Forum and to secure your participation, visit https://CongoEnergyInvestment.com/.

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

The Republic of Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua, will headline the Congo Energy & Investment Forum on March 25-26, 2025, showcasing the country’s energy advancements and investment opportunities under the Ministry’s leadership

BRAZZAVILLE, Republic of Congo, December 16, 2024/APO Group/ — 

The Republic of Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua, will headline the inaugural Congo Energy & Investment Forum (CEIF), scheduled for March 25-26, 2025, in Brazzaville. Organized by Energy Capital & Power (https://EnergyCapitalPower.com/) and endorsed by the Ministry of Hydrocarbons, the event represents a historic milestone for the country as it seeks to position itself as a leading energy investment destination in Africa.

With the Republic of Congo’s first LNG exports underway and oil production undergoing a revival, Minister Itoua’s leadership has been instrumental in driving forward ambitious reforms and initiatives aimed at maximizing the country’s energy potential. These efforts have positioned the Republic of Congo as sub-Saharan Africa’s fourth-largest oil producer, with a projected output of 280,000 barrels per day by the end of 2024.

“In welcoming Minister Itoua as a speaker at the inaugural Congo Energy & Investment Forum, we are honored to highlight the Republic of Congo’s dynamic energy leadership and its forward-thinking policies under the Ministry of Hydrocarbons,” says James Chester, CEO of ECP. “This event will provide a unique opportunity for investors and stakeholders to engage directly with Minister Itoua and explore the transformative projects and regulatory advancements that are shaping the country’s energy future. The Congo Energy & Investment Forum is set to be a milestone for international collaboration and investment in this key African energy market.”

The Congo Energy & Investment Forum is set to be a milestone for international collaboration and investment in this key African energy market

CEIF 2025 will provide a platform for investors and industry leaders to explore the nation’s recent developments, which have been driven by the strategic leadership of the Ministry of Hydrocarbons. Among these is the Marine XII LNG development, championed under the guidance of Minister Itoua, which exported its first cargo in early 2024 from the Tango FLNG facility and is projected to reach 3 million tons of LNG per year by 2025 with the addition of a second unit, underscoring the Ministry’s commitment to advancing the country’s natural gas monetization strategy.

Key players such as Trident Energy and Perenco have expanded their presence in the Republic of Congo, acquiring major assets and driving upstream development in alignment with the Ministry of Hydrocarbons’ efforts to foster an investment-friendly environment. Trident Energy’s acquisition of Chevron’s interests in fields such as Moho-Bilondo and Nkossa, alongside Perenco’s $300 million purchase of several oil permits from Eni, highlights the success of Minister Itoua’s policies in attracting a new wave of independent explorers. Further bolstering this progress, the Ministry is advancing its Gas Master Plan to maximize gas utilization, enhance commercial viability and support the establishment of a national gas company and the adoption of a new Gas Code.

The forum is expected to bring together policymakers, international oil companies, independent explorers and financiers to discuss strategies for maximizing the country’s hydrocarbon potential, expanding LNG production and advancing green energy solutions. Minister Itoua’s keynote address will set the tone for these discussions, offering unique insights into the government’s vision for the energy sector and its plans to secure long-term partnerships.

For more information about the Congo Energy & Investment Forum and to secure your participation, visit https://CongoEnergyInvestment.com/.

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

These projects will benefit countries across the globe and aim to bolster infrastructure, food security, renewable energy, economic resilience and governance in partner countries

VIENNA, Austria, December 10, 2024/APO Group/ — 

The OPEC Fund for International Development (OPEC Fund) (www.OPECFund.org) has approved close to US$1 billion in new development financing over the last quarter of 2024, including during its 190^th Governing Board meeting in Vienna today. These projects will benefit countries across the globe and aim to bolster infrastructure, food security, renewable energy, economic resilience and governance in partner countries.

OPEC Fund President Abdulhamid Alkhalifa said: “2024 has been a landmark year for the OPEC Fund, marked by a significant increase in project approvals and commitments across key sectors, helping to build resilience, develop sustainable infrastructure and address climate change. Our latest round of financing reflects the OPEC Fund’s ongoing dedication to delivering impactful solutions that drive meaningful change for millions of people. We remain focused on working with partners worldwide to tackle today’s challenges and build a better tomorrow.”

The OPEC Fund most recently approved projects since September 2024 (in alphabetical order):

Public Sector Operations:

Bangladesh: A €96.1 million loan will co-finance the Strengthening Economic Management and Governance Program with the Asian Development Bank (ADB). This initiative supports the government’s reform agenda to strengthen private sector development, trade logistics and governance. It aims to improve domestic resource mobilization, enhance public sector transparency and promote the diversification of exports.

Burkina Faso: A US$30 million loan will support the Human Capital Protection Project, which aims to provide 17 million free healthcare consultations, immunize one million children under age five and improve education for 91,000 teachers and 748,000 students. The initiative is co-financed with the World Bank.

Chad: A US$16 million loan will promote the Rice Farming Development Project in Chari-Logone, co-financed with BADEA. The project will benefit 2,000 households, with half the beneficiaries being women and youth, by enhancing agricultural productivity, rural infrastructure and agribusiness practices in selected provinces.

Comoros: A US$17.5 million loan will support the First Fiscal Management and Resilient Growth Development Policy. This program aims to improve debt management, enhance disaster resilience and strengthen the country’s economic stability and governance frameworks.

El Salvador: A US$30 million loan will co-finance the Rural Adelante 2.0 Program in partnership with the International Fund for Agricultural Development (IFAD). The program will support 74,000 smallholder farmers and rural families by improving agricultural practices, market access and climate resilience, ultimately boosting incomes and food security.

The Gambia: A US$20 million loan will fund the Rural Infrastructure Development Project (Phase 2), which will improve access to agricultural markets through enhanced rural infrastructure. The project will benefit local farmers and communities with interventions in agriculture value chains and improved connectivity to markets.

Honduras: A US$50 million loan will support the Women’s Empowerment and Social Inclusion Program promoting gender equality and empowering marginalized groups, including indigenous and Afro-descendant populations.

Kenya: A €60 million loan will co-finance the Economic Inclusion and Green Recovery Support Program with the African Development Bank. This initiative aims to create more inclusive and competitive markets, improve governance frameworks and promote green economic recovery.

Malawi: A US$20 million loan will co-finance the Mangochi–Mwanjati–Makanjira Road Project (Phase I). This project will benefit some 300,000 people by enhancing regional connectivity, reducing travel times and supporting economic development.

Mauritania: A US$40 million loan will help fund the Mauritania-Mali Power Interconnection and Related Solar Power Plants Development Project, alongside multiple development partners. The project will connect 80,000 households to electricity, promote renewable energy and reduce greenhouse gas emissions.

Our latest round of financing reflects the OPEC Fund’s ongoing dedication to delivering impactful solutions that drive meaningful change for millions of people

Montenegro: A €50 million loan, the OPEC Fund’s first engagement in the South-East European country, will support the Resilient Fiscal and Sustainable Development Program. The project focuses on improving fiscal sustainability, energy efficiency and waste management, while reducing greenhouse gas emissions.

Senegal: A US$60 million loan will fund the Senegal Food Sovereignty Strategy Support Project to enhance agricultural productivity, climate resilience and market access for 220,000 households with a focus on women and youth.

Sierra Leone: A US$30 million loan and a $2 million grant will support the Livestock and Livelihoods Development Program. This initiative will enhance livestock productivity, establish small and medium-sized enterprises and improve nutrition and income for rural communities. It is expected to create some 20,000 new jobs along the agricultural value chain and contribute to sustainable agricultural development.

Sri Lanka: A US$50 million loan will co-finance the Second Resilience, Stability, and Economic Turnaround Development Policy Operation to restore macroeconomic stability, improve fiscal governance and protect vulnerable populations.

Türkiye: A €50 million loan to the Climate Finance Facility Project will support investments in renewable energy, energy efficiency and climate adaptation. The project will be implemented by the Turkish Industrial and Development Bank (TSKB) and aligns with Türkiye’s net-zero target for 2053.

Uzbekistan: A €70 million loan will support the Second Inclusive and Resilient Market Economy Development Program. This initiative focuses on improving fiscal risk management, enhancing social inclusion and fostering private financing for climate action.

Private Sector Operations:

Côte d’Ivoire: A €35 million loan to a local bank will support on-lending to small and medium-sized enterprises (SMEs), addressing a financing gap for local companies. The loan will improve SMEs’ access to finance, fostering economic growth and job creation. Small enterprises represent nearly all businesses in Côte d’Ivoire.

Côte d’Ivoire: A €50 million participation in a trade finance facility will support the procurement and export of traceable cocoa, benefiting one million producers and five million people reliant on the cocoa sector.

Dominican Republic: A US$10 million loan to a local bank will support on-lending to micro, small, and medium enterprises (MSMEs) and women-led businesses, fostering economic growth and financial inclusion.

Egypt: A US$40 million loan will support the construction of two wind farms with a total capacity of 1.1 GW in the Gulf of Suez. This renewable energy project will provide clean energy to over 1.3 million households and contribute to Egypt’s goal of sourcing over 40 percent of electricity from renewables by 2035.

Ghana: A US$20 million participation in a secured trade finance facility will support the purchase, storage, and processing of cocoa beans. The facility will help expand access to premium cocoa in global markets.

Paraguay: A US$40 million syndicated loan to a local bank will support the growth of the bank’s SME loan portfolio and financing for agricultural projects, including women-led SMEs and green energy initiatives.

Uzbekistan: A US$30 million loan to Joint Stock Innovation Commercial Bank “Ipak Yuli” will expand lending to MSMEs, including women-owned businesses, fostering economic growth and job creation.

Technical Assistance Grant:

Regional (Asia and the Pacific): A US$1.5 million technical assistance grant will support the implementation of the Nature Solutions Finance Hub in partnership with the Asian Development Bank (ADB). The initiative aims to scale up investments in nature-based solutions to address biodiversity loss and climate change, targeting US$5 billion in financing flows by 2030.

Distributed by APO Group on behalf of OPEC Fund.