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Oil & Gas (O&G) Bid Rounds Imminent, Announces Libya Summit Finance Panel

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LEES

Libya is laying the foundation for foreign investment to flow into its energy sector, the country’s policymakers and energy stakeholders have announced during Energy Capital & Power’s Libya Energy & Economic Summit

TRIPOLI, Libya, January 15, 2024/APO Group/ — 

Speakers participating during a finance panel at the Libya Energy & Economic Summit (LEES) this week shared that the country’s planned licensing rounds – for domestic companies as well as an international tender – will be launched soon, in line with national targets to more than double oil production.

Mohamed Al-Hwej, Libya’s Minister of Economy and Trade, outlined the nation’s ambitious goals, stating, “We have a lot of oil reserves, and our 8% market share will increase.” Minister Al-Hwej explained that with enough foreign investment, the country could likely achieve three million barrels per day goals. “The new Libya is here,” he remarked.

With over 48 billion barrels of proven crude reserves and 53 trillion cubic feet of natural gas, Libya is well positioned to rebuild its economy on the back of hydrocarbons and enhanced local participation. The country is ready to welcome foreign investment, with the government recently implementing a series of legislative reforms while advancing infrastructure development and the deployment of renewable energy.

Ahmed Gaddah, Partner at Eltumi Partners, stated that, “Libya has great potential, and we have local capacity with Libyan insurers and contractors.” He stressed the importance of a mature legal system for petroleum, which guarantees industry stability and growth.

Abundant renewable energy potential has already begun to attract foreign players, while government remains committed to steering an energy transition through low-carbon solutions

Echoing these remarks, Zakaria Alhassan Albarouni, CEO of Albaraka Insurance Company, highlighted the four pillars crucial for Libya, namely, regulatory, insurance, financing, and risk investment. He affirmed, “We provide coverage that allows banks to fund projects.”

In the development of the industry, Libyan-based finance providers have a critical role to play. Assad Riyany, Head of Libya Business Desk at Bank ABC, addressed banking challenges. “As a local bank, we face restrictions. Resolving security restrictions will uplift the banking sector. The challenge is how to assess risks; government or banking intervention can expedite progress.”

As such, both local and foreign investment have emerged as the linchpins to unlocking Libya’s vast potential in oil and gas, growing the economy while positioning Libya as the supplier of choice for high-demand markets such as Europe.

Václav Bartuška, Special Envoy for Energy Security from the Czech Republic, emphasized that “for decades to come, the world will need oil and gas. Libya can help with that.”

Meanwhile, for the local economy, oil and gas is integral, representing the key to bolstering energy access, industrialization and long-term gross domestic product growth. Azza Kamel Maghur, Senior Business Strategy Advisor at Murzuq Oil Services, reinforced the centrality of the oil industry to Libya’s economy. “The oil in Libya is the glue of our economy,” she said.  

However, Libya is also uniquely positioned to lead in regional sustainable energy development. Abundant renewable energy potential has already begun to attract foreign players, while the government remains committed to steering an energy transition through low-carbon solutions.

John Bell, Managing Director of Gulfsands, introduced the concept of a gradual transition from hydrocarbons. He urged an accelerated pace, stating, “Decarbonization projects, including gas flaring reduction, are crucial to supporting the transition.” In these areas, he emphasized that “Libya is ready for investment.”

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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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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3 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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3 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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