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The Invest in African Energy (IAE) Forum to Connect African Energy Projects with Saudi, United Arab Emirates (UAE) Buyers

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Invest in African Energy

Gulf countries have shown rising interest in helping Africa to develop its oil and gas resources and build much-needed infrastructure

PARIS, France, February 22, 2024/APO Group/ — 

Over the past twelve months, the Middle East’s oil and gas heavyweights – Saudi Arabia, the United Arab Emirates (UAE) and Qatar – have accelerated their involvement across Africa’s energy value chain. Beginning with diplomatic visits turning into tangible cooperation agreements and planned investment campaigns, Gulf countries have cemented their interest in competing for Africa’s untapped hydrocarbon resources, which make up around 13% of natural gas reserves and 7% of oil reserves globally.

The Invest in African Energy (IAE) 2024 forum – taking place in Paris on May 14-15 – will bring together Africa’s top energy projects to pitch to global buyers for partnership and investment. The forum serves as a pivotal platform for Gulf energy companies and developers to access the latest data and project specifications directly from African energy ministers and authorities, with a view to unlocking mutually beneficial partnerships and new energy finance.    

Saudi Arabia

With plans to invest up to $25 billion in Africa by 2030 through its Public Investment Fund, Saudi Arabia is positioning itself as a long-term partner to the continent and leading integrated developments across Africa’s oil and gas value chain. Over 50 projects worth more than $500 million were signed between Saudi Arabia and African nations in November 2023, with investments directed primarily to energy, mining and infrastructure sectors. Deals included energy cooperation agreements with Senegal, Chad, Rwanda and Ethiopia, as well as a financing agreement with Mozambique for the construction of public infrastructure.

In Nigeria, Saudi Arabia has pledged to invest in the revitalization of Nigeria’s oil refineries and provide financial support to strengthen downstream capacity. In January, the two countries launched the National Human Capacity Training Program for the Adoption of Liquefied Petroleum Gas (LPG), which is set to lead to the joint-development of micro-distribution points for LPG through Nigeria’s Edo State. Meanwhile, the Kingdom is engaging in talks with South Africa to construct a refinery and alleviate domestic fuel shortages.

UAE

While Saudi Arabia may be leading diversified investment across Africa, the UAE is not far behind. Last December, the UAE signed an agreement with Morocco for the development of the Africa-Atlantic gas pipeline, transporting Nigerian gas to North Africa, then on to Europe. Through its Abu Dhabi sovereign wealth fund, the country will help mobilize financing for the pipeline, which could also connect emerging gas players like Senegal and Mauritania to new markets. Seeking expansion into Africa’s gas industry, Abu Dhabi National Oil Company is said to be in discussions to acquire Galp’s 10% interest in Mozambique’s Rovuma LNG project, set to monetize three gas reservoirs in the Area 4 block of the Rovuma Basin to produce 18 million tons of LNG per year.

The UAE’s growing role on the continent also transcends direct investments, enabling African countries to tap into international financial markets. Positioned as a strategic trade center within easy reach of the Middle East, Asia, Europe and Africa, Dubai is well-connected to both global sources of capital and emerging markets that are seeking investment.

Qatar

Qatar is also ramping up its activities on the continent through upstream exploration. In April 2023, state-owned QatarEnergy acquired a 40% interest in the offshore Block C-10 in Mauritania – home to the Walata, Banda and Tevet oil discoveries – in partnership with Shell and Mauritania’s national oil company SMH. With over 28.3 billion cubic meters of proven gas reserves, Mauritania could become the third-largest gas exporter in Africa, following Nigeria and Algeria. The acquisition not only affirms the prospectivity of Mauritania’s offshore oil and gas acreage, but also Qatar’s interest in expanding its exploration footprint on the continent.

QatarEnergy has been playing an active role in the continent’s latest hydrocarbon discoveries – notably, offshore Namibia, where the company holds stakes in three exploration licenses. Its PEL 39 – in which it carries a 45% interest, in partnership with Shell (45%) and the National Petroleum Corporation of Namibia (10%) – has yielded four consecutive discoveries between February 2022 and July 2023. These discoveries – Graff-1, La Rona-1, Jonker-1X and Lesedi-1X – are now transforming Namibia into one of the foremost hydrocarbon markets on the continent, with further testing and appraisal work currently underway.

Distributed by APO Group on behalf of Energy Capital & Power.

Business

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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