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Republic of Congo Participates in Historic Organization of the Petroleum Exporting Countries (OPEC) Meeting, Production Cuts Extended into 2025

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OPEC

The African Energy Chamber commends OPEC and its allies for extending oil production cuts into 2025 amid efforts to stabilize the market

JOHANNESBURG, South Africa, June 5, 2024/APO Group/ — 

The Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua participated in two historic OPEC meetings on June 2, where the decision was made to extend oil production cuts into 2025.

The meetings – an OPEC Conference and the OPEC and non-OPEC Ministerial Meeting – brought together OPEC member states and their non-OPEC counterparts to formulate strategies aimed at improving market stability and strengthening cooperation among producing nations. The Republic of Congo remains steadfast in its commitment to supporting market stability and believes the production cuts will not only encourage new investment in African oil and gas projects, but also stabilize barrel prices and global exports.

The production cuts reflect this and will ensure that the regular investment that the Congo has witnessed for several years continues

OPEC and its allies (OPEC+) initiated production cuts in 2022 to counteract demand fluctuations and price instability. At present, these cuts amount to approximately 5.86 million barrels per day (bpd) or 5.7% of global demand. Approximately 3.66 million bpd were due to expire at the end of 2024 and have been extended through 2025, while approximately 2.2 million bpd were due to expire in June 2024 and have been extended through September 2024. From October 2024 to September 2025, OPEC will gradually phase out the 2.2-million bpd cuts. These production cuts not only serve to benefit producers, but also global consumers. In addition to creating predictable revenue streams for producers that can stimulate the development of new upstream assets, production cuts stand to bolster the fiscal stability of oil-dependent countries while supporting economic growth and development.

For the Republic of Congo, production cuts aim to create stability across the domestic market, while incentivizing new investment in oil developments. The country is leading several exploration and development programs that unlock new geological plays, with independent hydrocarbon producer Perenco yielding a shallow water discovery at its PNGF Sud license and recently completing a 3D seismic acquisition campaign on the Tchibouela II, Tchendo II, Marine XXVIII and Emeraude permits, paving the way for future exploration drilling.

Italian major Eni is focused on exploration efforts on the conventional and deep offshore areas off the coast of Pointe-Noire; Chinese energy company Wing Wah is developing the Banga Kayo block; while French supermajor TotalEnergies is preparing to drill the Niamou-1 exploration well on the Marine XX offshore block. These developments are just the start, with the country inviting investors to seize additional opportunities in untapped offshore blocks. Through the OPEC-led production cuts and subsequent price stability, the Republic of Congo has proven well-positioned to attract upstream investment and offer a more attractive operating environment, backed by stable market conditions and long-term growth prospects.  

As the sixth-largest oil producer in Africa, the Republic of Congo has ambitions to leverage its oil production to fuel further economic growth. The country’s production for the month of April 2024 measured at 259,000 bpd. With over 1.8 billion barrels of proven oil reserves, the Republic of Congo has the capacity to increase production to 500,000 bpd. Existing production cuts will support this goal, as market stability creates the conditions necessary for long-term investments.

“OPEC remains committed to improving market stability and strengthening global oil dynamics. The production cuts reflect this and will ensure that the regular investment that the Congo has witnessed for several years continues. New investment in Congolese oil and gas will create a strong and resilient economy, driving job creation and economic opportunity, in line with President Denis Sassou Nguesso’s vision for our country,” stated Minister Itoua.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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ORUN and 1xBET Partner to Support a Dynamic Creative Africa

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MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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MIR Holding Reaffirms Its Commitment to African Creative Industries Alongside ORUN at Marché des Arts du Spectacle Africain d’Abidjan (MASA) 2026

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MIR Holding

More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –On the occasion of MASA 2026, held from April 11 to 18 in Abidjan, MIR Holding (https://MIRHolding.odoo.com) reaffirmed its commitment to supporting the growth of African creative industries by partnering with ORUN as part of the Innovation Village, hosted at the Palais de la Culture in Abidjan. This presence reflects a clear intention to support the scaling of cultural and creative industries so they can fully contribute to job creation and value generation across the continent.

 

Co-organized by ORUN and MASA, the Innovation Village brought together over several days scenography designed by Ivorian artisans, a program of panels and masterclasses dedicated to creative industries, an immersive experience produced by Orun Studios, and a key institutional highlight on April 17.

At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains

Built around three pillars — memory, structure, and transmission — the initiative carried a renewed ambition for culture: positioning it as a concrete lever for economic structuring and African projection.

By supporting this initiative, MIR Holding aligns with a broader dynamic aimed at strengthening connections between creation, entrepreneurship, content, youth, and growth ecosystems. More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures. MIR Holding stands among the main partners of the Village, alongside Africa Currency Network and other stakeholders engaged in this vision.

“With ORUN, we are not only seeking to make culture visible. We aim to help provide it with a framework, a reach, and a trajectory. What is at stake here is the continent’s ability to better transform its creative energy into sustainable value, real opportunities, and influence,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

Mouhamed Dieng, President of MIR Holding, added: “Supporting Africa’s creative industries is not about backing a secondary sector. It is about investing in one of the continent’s most powerful spaces for storytelling, youth, innovation, and competitiveness. At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains.”

Distributed by APO Group on behalf of MIR Holding.

 

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