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Gabon’s New Hydrocarbons Code: A bold step into the future

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3 years ago

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Gabon

Rapid liberalization, lower taxes, and a host of incentives for investors are helping Gabon draw interest to its oil industry and realize the potential of its natural gas reserves

LIBREVILLE, Gabon, April 12, 2023/APO Group/ — 

The onset of the COVID-19 pandemic dampened global demand for oil and natural gas, disrupted the flow of capital, and slashed expansion plans across the hydrocarbons industry. As a result, licensing rounds in many African countries have suffered from a lack of investor interest.

Despite these challenges, Gabon has emerged as a preferred destination for energy investors and majors due to investor-friendly reforms epitomized by the new Hydrocarbons Code introduced in 2019.

Hailed as a new dawn for investors, the new code quickly attracted private sector interest as an unprecedented 12 new oil production-sharing deals were signed in the weeks following the rollout of the new regulations. Malaysia’s state-owned Petronas was among the first energy majors to step up, acquiring exploration rights to two offshore blocks that authorities had previously failed to auction in 2014. Backed by US-based private equity firm Carlyle Group, Assala Gabon also bagged licenses for three exploration blocks. Meanwhile, China National Offshore Oil Corporation (CNOOC) raised its stake in two offshore blocks from 25% to 100% as it bought out Shell’s share in the venture. CNOOC has also announced plans to invest a further $30 million in exploration activities in the country.

Gabon has emerged as a preferred destination for energy investors and majors due to investor-friendly reforms epitomized by the new Hydrocarbons Code introduced in 2019

The heightened interest in Gabon is largely attributable to the deregulation of its hydrocarbons sector, which is a core aim of its recently enacted reforms. The maximum limit for state participation in production sharing contracts (PSCs) has been reduced from 20% to 10%. Similarly, the state’s share of the profit from natural gas (https://apo-opa.info/3KP48Ax) exploration activities has also been limited to 10%.

Besides providing a quicker path to profitability for prospective investors in both offshore and onshore ventures, the reform also reduces their financial burden and allows them greater control over operations through a range of fiscal incentives. The prevalent corporation tax in the country is 35% but has been cut to zero in the case of the hydrocarbon industry. State royalties for the sector have also seen sizeable reductions from around 15% to as low as 2% for offshore exploration (https://apo-opa.info/40hzMeJ) and drilling activities. Certain axes on onshore mining activities have also been lowered.

Due to these and other reforms, cost recovery has improved significantly, including from 75% to 90% for offshore fields. In the case of shallow water oil and gas fields, this ratio has increased from 65% to as high as 80% with the introduction of the new code. Coupled with the reduction in state royalties, experts believe these measures have lifted the valuation of Gabonese oil and gas reserves by around 40% for current and prospective investors because international oil companies are now able to retain a larger proportion of profits and earn a higher return on investments (https://apo-opa.info/3UsBYi6). Concurrently, authorities are also expediting the collection of seismic and well data to arm potential operators with the information they need to make their investment decisions.

The economy has remained heavily reliant on the oil industry for government revenues and exports, of which oil represents up to 80% of the total. But its output has been waning for years and some industry giants have exited the country. With its attractive new fiscal incentives and a liberalized market, Gabon is hoping to reverse this decline while also propelling the natural gas sector, which is a centerpiece of the country’s economic strategy.

All this and more will be further unpacked in Energy Capital & Power’s upcoming market report, Energy Invest Gabon.

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

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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