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Industry Executives Insist environmental, social, and governance (ESG) is Not Just Decarbonization or Renewables

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African Energy Week

A panel discussion sponsored by Schlumberger at AEW 2022 highlighted how African energy stakeholders are increasingly incorporating ESG in business operations and how ESG is affecting industry trends

JOHANNESBURG, South Africa, October 20, 2022/APO Group/ — 

During a panel discussion held at the African Energy Week (AEW) 2022 (https://AECWeek.com/) conference, energy industry executives have insisted that environmental, social, and governance (ESG) does not imply decarbonization and the use of renewable energy only, but is essential for the sustainable development and exploitation of Africa’s vast hydrocarbon resources to address energy security, socioeconomic development goals and environmental sustainability.

Entitled; ‘How ESG has become the driving force in the energy sector,’ the panel discussion was moderated by James Carter, Partner at DLA Piper, UK and included Jorian Hamster, Senior Associate, DLA Piper; Festus Kapembe, ESG Manager, ReconAfrica; Michiel Coenraads, Partner, DLA Piper UK; Julien Perez, VP Strategy and Policy, OGCI and Liesl Esau, HSE & EC Lead, bp Southern Africa, as speakers.

According to Hamster, “ESG is not just decarbonization, it is not just renewables. By only focusing on decarbonization, we are missing the meaning, importance and benefits of ESG in maximizing energy developments, ensuring energy security and in transferring the benefits associated with the exploitation of resources to the local communities and economies. Today, we are seeing global investors just signing deals when they see that it is renewables and stepping back when it is hydrocarbons, yet even in massive renewables developments ESG is not being prioritized.”

Speaking in regard to how ESG is shaping energy market trends, Coenraads stated “What we are seeing is a huge change of capital from fossils to renewables. Focus on ESG projects is about $600 billion and on non ESG at $400 billion. Banks are moving away from investments in carbon chains and many internationals have committed to net zero meaning it is difficult for majors to finance infrastructure to get oil out of the ground because they need to decarbonize hence they are now diversifying assets. Shell for instance has been told to reduce emissions by 45% by 2030.”

Africa has a lot to contribute to addressing global energy transition but needs to be listened to

Commenting on the increasing exits by majors across some of Africa’s hydrocarbon-rich basins in prioritizing ESG targets set in home countries, Hamster added that “Risks does not mean you have to diversify, you have to work together with all parties involved including governments and develop mechanisms to work around maximizing both ESG and energy developments.”

Perez added that with companies prioritizing ESG, there will be a continued increase in renewables investments and in electrification but if investments in gas and new baseload power capacity additions stops, it will cause a huge crunch on the energy system. He said “We should continue investing in fossil fuels and at the same time use new technologies such as drones, data analytics and satellites to track the environmental impacts of these projects. We need to develop and employ innovative decarbonization mechanisms and strategies in our oil and gas projects. World players need to be guided on what ESG means.”

The panel also explored what Africa as a continent needs to get out of the upcoming COP 27 summit in Egypt. Hamster said “There is something circular about these COP summits especially around climate financing and the commitments keep on being not delivered. There needs to be practical solutions and implementation not just promises. African voice in ESG, the energy transition and environmental issues needs to be heard and included in global frameworks.”

According to Kapembe, “In addition to just maximizing commitment and budgets in environmental and social spending, African companies and leaders need to raise issues around what is affecting the African population at COP 27. In as much as we can explore renewables, we need to make use of the resources available in vast quantities in the continent. The African team needs to have a united voice from the African background and have commitments that can help us sustain developments that will address both the environmental and socioeconomic development goals. Africa has a lot to contribute to addressing global energy transition but needs to be listened to.”

Perez added that “It seems Europe and the west are talking to each other and not listening to the whole world. If we do not resolve the issue of ESG, climate change and energy poverty together, we are all going to lose. In terms of ESG, Africa has a lot to benefit in regard to accelerating renewables investments and developments as well as the implementation of smart technologies. For climate activists, the fossil fuel industry is not a threat and for the fossil fuel sector, ESG is not a challenge but a business opportunity.”

Esau highlighted the need for the implementation of campaigns aimed at increasing ESG awareness across the entire energy value chain from policymakers, energy producers, retailers, transporters and consumers.

Distributed by APO Group on behalf of African Energy Week (AEW).

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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