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

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6 months ago

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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.

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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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Debate

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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CLG

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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Business

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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ITFC

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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