Connect with us
Anglostratits

Business

Libya’s Minister of Oil and Gas Joins Cape Town Energy Event as Latest Bid Round Piques Global Interest

Published

on

Libya

Launched in March 2025, Libya’s latest licensing round has drawn interest from over 40 prospective bidders, signaling the country’s re-entry into the global energy stage

CAPE TOWN, South Africa, August 15, 2025/APO Group/ –Dr. Khalifa Abdulsadek, Minister of Oil and Gas of Libya, has joined this year’s African Energy Week (AEW): Invest in African Energies conference as a speaker. This year’s event will host a dedicated Invest in Libyan Oil & Gas Summit – highlighting Libya’s push to open up its sector for foreign investment. With Libya’s latest licensing round drawing interest from over 40 prospective applicants – including leading energy operators – the country is on track to meet its ambitious goal of producing two million barrels per day (bpd)

Minister Abdulsadek’s participation comes as Libya opens up the sector for foreign investment, with its latest licensing round piquing the interest of over 40 prospective applicants. With leading energy operators announcing that they are competing in the round, Libya is well-positioned to meet its goals of two million barrels per day (bpd).

Libya launched its 2025 licensing round in March as part of its 25-year strategy to add 8 billion barrels of crude oil to its proven reserves. The licensing round offers 22 exploration blocks – 11 onshore and 11 offshore – with contracts set to be signed by the end of 2025. Featuring newly-selected blocks based on geological viability and proximity to existing infrastructure, the licensing round represents a compelling opportunity for investors seeking early returns, given the blocks lower entry costs and quicker development timelines. Multinational energy corporation Chevron and integrated multi-energy company TotalEnergies have both announced that they are competing in the round, alongside energy majors ExxonMobil and Eni.

Libya is rapidly positioning itself as a major global supplier, targeting two million bpd through fresh investment in greenfield and brownfield block opportunities

Currently producing 1.4 million bpd, Libya’s latest licensing round is expected to play an instrumental part in enhancing national output. To support a transparent and streamlined bidding process, the country’s National Oil Corporation (NOC) introduced a dedicated online platform for managing the bid round. The platform offers secure, confidential access to technical, legal and financial data. The bid openings and announcement of successful applicants will take place on November 15, 2025, while the contract signings will take place between November 22-30. This clear and structured timeframe has boosted investor confidence in the sector.  Further enhancing confidence, Libya has introduced the fifth generation of its Exploration and Production Sharing Agreement (EPSA V). The agreement is a modernized contractual framework designed to attract international oil companies with more competitive fiscal terms, thereby transitioning the country from a concession-based system to state-partnered agreements. The EPSA V balances investor appeal with national interest, offering companies greater predictability and a stronger return on investment.

These developments come as Libya sees renewed interest by foreign operators in its oil and gas opportunities. ExxonMobil, for example, returned to the country after a decade-long hiatus, signing an MoU to carry out a technical study evaluating the hydrocarbon potential of four offshore blocks. The geological and geophysical surveys will be conducted along Libya’s northwest coast and within the Sirte Basin. Shell and bp entered into agreements with Libya’s NOC in July 2025 to carry out studies on hydrocarbon exploration and production at three oilfields in the country. Under the agreement with bp, the company will explore redevelopment opportunities at the Mature Darir and Messla oilfields. bp will also pursue exploration prospects in nearby areas. Meanwhile, the agreement with Shell will see the company conduct a detailed feasibility study for the development of the al-Atshan oilfield and other fields fully owned by the NOC.

Beyond greenfield opportunities, Libya is working to revitalize production at legacy assets. Notably, companies to the likes of Waha Oil Company and Mellitah Oil & Gas are breathing new life into mature assets, using advanced technology, well stimulation programs and upgrades to gathering systems and processing facilities. In the infrastructure space, the country is making significant strides towards modernizing projects with a view to bolster exports and reclaim its place as a major global supplier. Key projects include the Structures A&E development led by Eni. The project will transport gas from two offshore fields to the Mellitah complex for processing, with offshore drilling commencing in 2025. Other projects include the Sabratha Compression project and the Bouri Gas Utilization Project. During AEW: Invest in African Energies 2025, Minister Abdulsadek is expected to share further insight into the impact these projects play in Libya. His participation will facilitate new collaborations, support production growth and accelerate development across strategic basins.

“Libya is rapidly positioning itself as a major global supplier, targeting two million bpd through fresh investment in greenfield and brownfield block opportunities. This ambitious strategy has already begun to yield positive results, with a host of foreign operators committing to investing,” states NJ Ayuk, Executive Chairman, African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Africa Finance Corporation Appoints Central Bank of Nigeria (CBN) Governor Yemi Cardoso as Chairman of the Board

Published

on

Mr Cardoso’s appointment comes as AFC continues to expand its role in financing and developing strategic infrastructure assets that address Africa’s infrastructure gap, accelerate industrialisation and strengthen regional integration

LAGOS, Nigeria, October 14, 2026/APO Group/ –Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, announces the appointment of Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), as Chairman of its Board of Directors. He succeeds the immediate-past Chair, Ireti Samuel-Ogbu, who served the Corporation meritoriously during her tenure and continues to serve as a board member.

 




 
 

Mr Cardoso brings extensive experience spanning international banking, investment management, economic policy and public sector leadership. Since assuming office as Governor of the CBN in September 2023, he has led a far-reaching programme of monetary, financial-sector, and institutional reforms to restore macroeconomic stability, strengthen policy credibility, and rebuild investor confidence in Nigeria’s economy.

Under his leadership, the CBN has implemented significant reforms to Nigeria’s foreign exchange market, addressed longstanding foreign exchange obligations, strengthened monetary policy transmission, and enhanced institutional governance and transparency. The Bank has also concluded a recapitalisation programme for the banking sector, aimed at strengthening the resilience and capacity of Nigeria’s financial system to support sustainable economic growth.

I look forward to working with the Board, management and member states to advance The Africa We Build 2050

Prior to his appointment as Governor, Mr Cardoso built a distinguished career in international banking and public service, including a 12-year tenure as Chairman of Citibank Nigeria and service as Commissioner for Economic Planning and Budget in Lagos State. In the latter role, he contributed to economic planning and fiscal management in one of Africa’s largest economies. He holds a degree from Aston University in the United Kingdom and a master’s in public administration from Harvard Kennedy School, where he also served on the Alumni Board.

Mr Cardoso’s appointment comes as AFC continues to expand its role in financing and developing strategic infrastructure assets that address Africa’s infrastructure gap, accelerate industrialisation and strengthen regional integration. His experience in financial sector reform, institutional governance and capital markets will provide valuable perspective on the Corporation’s strategic direction as it mobilises investment to unlock Africa’s economic potential.

Samaila Zubairu, President & CEO of AFC, said: “We are delighted to welcome Mr Cardoso as our Board Chairman. He shares our conviction that Africa’s lasting stability depends on its productive capacity. His leadership will strengthen AFC as we advance The Africa We Build 2050, mobilising African capital to build the infrastructure and industries that create jobs, prosperity and dignity for our people. We also sincerely thank Mrs Samuel-Ogbu for her dedication and contribution to AFC’s board during her tenure.”

Mr. Cardoso commented on his appointment, saying: “A more productive Africa is a more stable Africa. AFC has the credibility and track record to mobilise capital and build the infrastructure and industries that drive transformation. I look forward to working with the Board, management and member states to advance The Africa We Build 2050. Our measure of success must be the productive capacity we create, the industries we enable and the jobs we support.”

AFC continues to advance transformational infrastructure and industrial investments across Africa, with recent milestones including achieving financial close on the US$753 million Lobito Corridor Railway Project in Angola, to support the rehabilitation, upgrade, and long-term operation of the 1,300-kilometre brownfield rail corridor; supporting a US$600 million facility for Dangote Group’s US$7 billion fertiliser expansion programme to scale production in Nigeria; and committing to a combined US$300 million investment alongside Vision Invest in WIOCC Group to accelerate the expansion of critical digital infrastructure across the continent. These investments reflect AFC’s unique approach to developing strategic infrastructure platforms that connect markets, strengthen industrial value chains and mobilise capital at scale to drive Africa’s economic transformation.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

 




 

Continue Reading

Business

Ghana Targets End to Liquid Fuel Purchases for Power as Gas Supply Expands

Published

on

GECF

Ghana, Senegal and the GECF outlined how African producers can grow domestic gas use alongside exports at the GECF-AEC Strategic Forum

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Ghana expects to stop procuring liquid fuels for power generation next year, John Jinapor, Minister for Energy and Green Transition, said during a Gas Exporting Countries Forum (GECF)-hosted strategic session at African Energy Week (AEW) 2026 in Cape Town. Ghana has already cut its liquid fuel purchases for electricity from eight cargoes to two, he said, as domestic gas and imports from Nigeria replace diesel and heavy fuel oil in thermal plants.

 




 
 

Ghana’s gas policy prioritizes domestic processing, with gas directed first to power generation and then to industry, Jinapor said. The switch from liquid fuels saved Ghana about $500 million in a single year through import substitution, at a time when electricity demand is growing about 10% annually. Nigeria supplies Ghana through the West African Gas Pipeline, and he said Ghana expects to double those volumes under its current agreements. Ghana is also building a 278 km pipeline to link its main power centers, and is using a levy on pump fuel to fund LPG adoption, targeting 50% penetration within three years.

We are a gas continent before an oil continent

Senegal, which began exporting LNG in 2025, is working to balance exports with supply to its own economy. El Hadji Abdourahmane Diouf, Minister of Energy and Petroleum, said companies often prioritize export markets, leaving governments to secure domestic supply. Senegal is targeting domestic gas supply of around 150 million standard cubic feet per day by 2030, delivered through a national gas network to power plants across the country. Diouf said the network’s pipeline, which has faced delays, is expected within nine months.

Philip Mshelbila, Secretary General of the Gas Exporting Countries Forum (GECF), called the choice between exports and domestic use “a false choice.” In his address, he said: “Exports mobilize capital, revenue and investment confidence. Domestic utilization is the development multiplier.” The GECF’s Global Gas Outlook projects African gas demand will more than double, from 175 billion cubic meters in 2024 to about 374 billion cubic meters by 2055.

Panel moderator Oliver Onyekweli, Partner at McKinsey & Company, noted that only around 3% of gas commercialized in Africa is traded within the continent. Mshelbila said regional cooperation, gas storage and cross-border infrastructure will determine how resilient African markets are to future supply disruptions. He cited the Senegal-Mauritania Greater Tortue Ahmeyim project as a model.

NJ Ayuk, Executive Chairman of the African Energy Chamber, described gas as a “Swiss knife” for African development, with uses spanning power generation, petrochemicals and fertilizers. “We are a gas continent before an oil continent,” he asserted.

Ghana’s gas master plan, currently under review, sets a 15-year blueprint for the country’s gas infrastructure and budgeting.

Distributed by APO Group on behalf of African Energy Chamber.

 

 




 

Continue Reading

Business

Africa Energy Bank to Begin Financing Gas Projects in Early 2027, African Petroleum Producers Organization (APPO) Says

Published

on

African Energy Chamber

APPO’s new bank will prioritize regional corridors as GECF forum panelists flag a gap in domestic gas financing

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –The Africa Energy Bank (AEB) will become operational within weeks and begin financing projects at the start of 2027, Farid Ghezali, Secretary General of the African Petroleum Producers Organization (APPO), said during the technical panel of the GECF-AEC Strategic Forum at African Energy Week (AEW) 2026 in Cape Town. The bank, launched by APPO and Afreximbank, will use a corridor approach, prioritizing projects that deliver regional economic development across four pillars: export infrastructure, domestic infrastructure, clean cooking and power.

 




 
 

Ghezali said exports and domestic supply should not compete. “I come from a country where you cannot export any drop of gas if the domestic demand is not satisfied,” he said. APPO and the Gas Exporting Countries Forum (GECF) signed an agreement earlier this year to work jointly on gas corridors, and plan to harmonize transit tariffs and gas contracts across member states.

I come from a country where you cannot export any drop of gas if the domestic demand is not satisfied

The panel focused on why domestic gas markets remain underdeveloped. Rashid Ali Abdallah, Executive Director of the African Energy Commission (AFREC), said recent investment has gone largely into export terminals while regional pipelines struggle to attract funding. He called for regional financing frameworks for cross-border infrastructure, and for joint planning of gas pipelines and power transmission.

In South Africa, industrial consumers face the loss of natural gas supply within about 18 months, with only a short-term coal supply bridge beyond that, said Jaco Human, Executive Officer of the Industrial Gas Users Association of Southern Africa (IGUA-SA). The gas aggregation company was formed to pool demand, share risk and underwrite new infrastructure across the region. Human said a proposed pipeline linking the Orange Basin to Western Cape and inland markets would need around 200 petajoules of annual demand. “We have much more demand than that, so the problem is not an economic one,” he said. “Rather, it is a coordination problem.”

Abubakar Abbas, Senior Energy Forecast Analyst at the GECF, said Africa will require at least $1 trillion over the next 30 years to develop its gas resources. Per capita energy consumption on the continent is about 25 gigajoules a year, well below the global average. Abderrezak Benyoucef, Head of Energy Studies at OPEC, said OPEC expects gas to rise from 17% to 23% of Africa’s energy mix by 2050. Electricity generation is projected to grow from under 1,000 TWh to about 2,700 TWh, with half of it from gas.

The AEB is headquartered in Abuja, where Nigeria handed over the bank’s offices to APPO and Afreximbank in February.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

Continue Reading

Trending