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Minister of State for Oil Senator Heineken Lokpobiri to Present Opportunities for Foreign Direct Investment

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Senator Heineken

The African Energy Chamber is proud to announce that Sen. Heineken Lokpobiri, Nigeria’s Minister of State for Oil, will deliver a keynote address at this year’s African Energy Week conference, showcasing investment and partnership opportunities available across one of Africa’s largest oil producers

JOHANNESBURG, South Africa, September 1, 2023/APO Group/ — 

Nigeria’s vast hydrocarbon resources, encompassing 200 trillion cubic feet of natural gas and 37 billion barrels of oil reserves, represent a significant opportunity for the nation to optimize revenue generation, expand energy accessibility and drive industrialization, all while fostering employment creation and infrastructure development. Despite its status as one of Africa’s largest crude oil producers, Nigeria has experienced a decline in production across legacy fields, and as such, is inviting foreign investors and project developers to join the promising market, thereby triggering an energy transformation in Nigeria.

Pivotal to bolstering Nigeria’s oil production and ensuring the sustainability of the energy market are dedicated and seasoned industry leaders and policymakers. Specifically, Sen. Heineken Lokpobiri, Nigeria’s Minister of State for Oil, represents an instrumental figurehead in the country with a commitment to driving the country into a new era of energy and economic prosperity. During the continent’s biggest energy gathering, African Energy Week (AEW) – scheduled for October 16-20 in Cape Town – Sen. Lokpobiri will deliver a keynote address on the role Nigerian energy is poised to play in making energy poverty history in Africa.

Representing Africa’s premier energy event, AEW 2023 takes place under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ and aligns closely with Sen. Lokpobiri’s objectives for Nigeria’s energy sector. During the event, Sen. Lokpobiri will engage in high-level panel discussions and exclusive networking sessions centered on Nigeria’s promising hydrocarbons opportunities. Sen. Lokpobiri will also lead Invest in Nigeria Energies at AEW 2023, connecting capital and technology to Nigerian projects.

Between 2023 and 2027, Nigeria is set to dominate Africa’s project portfolio, accounting for 23% of planned projects set to begin operations

Having been appointed Nigeria’s Minister of State for Oil by President Bola Ahmed Tinubu in 2023, Sen. Lokpobiri is dedicated to revitalizing the nation’s energy production. Leveraging a strong track record of spearheading dialogue and deals around sustainable development, Sen. Lokpobiri, who previously served as Nigeria’s Minister of State for Agriculture and Rural Development from 2015 to 2019, brings valuable experience to the AEW 2023 conference. His leadership will play a pivotal role in attracting new investors, strengthening existing partnerships with global energy stakeholders, and addressing critical industry challenges.

On the back of the Petroleum Industry Act, implemented in 2021 to catalyze industry growth, Sen. Lokpobiri brings a drive to bolster the competitiveness of the nation’s oil sector. His leadership aims to elevate production, expand domestic capacity, and ultimately accelerate Nigeria’s economic development. Currently, a number of projects are underway in the country that aim to position it as a regional hub. Upstream projects include field developments such as OML 13, Bongo North Field, Preowei Field, JK Field, HD Field and many more. Downstream, the 650,000 barrel per day Dangote Oil Refinery came online this year while projects such as the Trans-Niger Oil Pipeline and many more are poised to strengthen domestic refining capacity and regional distribution.  

With an ambitious goal of lifting 86 million citizens out of energy poverty by efficiently exploiting domestic resources, Sen. Lokpobiri is well-positioned to spearhead the nation’s energy renaissance. As Nigeria aspires to become a top-ten global destination for energy investment, his stewardship will enhance the country’s appeal to international investors. Between 2023 and 2027, Nigeria is set to dominate Africa’s project portfolio, accounting for 23% of planned projects set to begin operations. Under Sen. Lokpobiri’s leadership, Nigeria’s pursuit of economic diversification through oil-generated revenue is set to be usher in tangible results, while his participation at AEW 2023 will increase this project lineup considerably as new investment flows into the market.

“Nigeria’s oil resources not only represent an opportunity for the country to address its energy security concerns and economic diversification agenda but a chance to consolidate Africa’s position as an energy powerhouse. Sen. Heineken Lokpobiri is well positioned to lead Nigeria into a new era of industry expansion. Under his leadership, the country is on course to attract new investors, boost production in marginal fields, unlock new reserves and enhance revenue generation while alleviating issues such as theft and ageing infrastructure,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).

AEW is the AEC’s interactive exhibition and networking event uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information about sponsorship, attendance, and partnership opportunities, visit www.AECWeek.com.

Distributed by APO Group on behalf of African Energy Chamber.

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SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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