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Time to Tap Central Africa’s Hydrocarbon Wealth with More Oil and Gas Production says African Energy Chamber (AEC)

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African Energy Chamber

Taking place this week in Gabon, the Central Africa Business Energy Forum seeks to promote an enabling environment for doing business in the region

JOHANNESBURG, South Africa, October 24, 2024/APO Group/ — 

Serving as the voice of the African energy sector, the African Energy Chamber (AEC) (https://EnergyChamber.org) strongly supports the 2024 edition of the Central Africa Business Energy Forum (CABEF) – taking place this week in Gabon. The event asserts the critical role an enabling environment and market-focused policy plays in driving projects forward across the region. AEC Executive Chairman NJ Ayuk is speaking at the event, where he will outline the vital need to address foreign exchange regulations while creating an enabling environment for companies to do business.

Despite the significant potential the Central African region offers for hydrocarbon development, subsidies, taxes and unattractive fiscal terms have deterred foreign investment. Notwithstanding domestic policies, foreign exchange regulations instituted under the Bank of Central African States (BEAC) continue to cost the region. Specifically, new rules regarding transactions over US$1,700 have not only impacted the lead time for money transfers but raised overall transaction costs. This continues to serve as a major hinderance for energy projects across the region at a time when foreign capital is most-needed.

Africa loses up to $46 billion in investment and stands to lose billions more if operators are not met with enabling environments. With up to 600 million living without access to electricity and 900 million people living without access to clean cooking solutions, the continent requires much more investment to boost energy security and meet socioeconomic goals. To increase investment, African nations need to tear down the rules that make it difficult for people to invest.

The Central African region – home to some of the most promising oil and gas markets in Africa – is well-positioned to supply the continent with energy. Major producers such as Gabon, Equatorial Guinea, the Republic of Congo and Cameroon have long-been major exporters, yet production declines present newfound challenges. To counteract natural declines in hydrocarbon output, the region requires significant levels of investment in exploration. Unattractive fiscal policies and disruptive foreign exchange regulations impact spending across the upstream market, highlighting the need to address fiscal barriers.  

The event also connects foreign investors to projects, serving as a catalyst for project development

Take Equatorial Guinea, for example, whose Gas Mega Hub (GMH) offers the region a unique opportunity to monetize stranded resources. Through its Punta Europa LNG facility, the country processes gas from the Alba field. The agreement for the next phase of the GMH has been signed, enabling the Aseng field to be tied-in to existing infrastructure. Additionally, Equatorial Guinea has signed agreements with Nigeria and Cameroon to import gas. However, much more needs to be done in order to maximize the full potential of both the GMH and regional blocks. The same can be said for Cameroon as well as other regional nations such as Gabon and Chad, all of which have also faced production declines in recent years. Lack of investment in exploration can be attributed to counterproductive CEMAC policies, governance issues and tax challenges, with operators facing roadblocks and red tape.

Despite disruptive policies, efforts are being made to increase energy access and intra-African trade. Projects such as the Central African Pipeline System (CAPS) aim to connect Central Africa with other regions in Africa, featuring a network of 6,500-km pipelines connecting the oil and gas resources of 11 Central African countries. The initiative links storage depots, LNG processing facility, power plants and pumping stations, modeling energy system in Europe to spur industrialization and electrification in Africa. The AEC wholly support the CAPS project, viewing it as an instrumental development in Africa’s energy future. 

Amidst the global energy transition, Central Africa needs to rally behind its oil and gas operators. Africa cannot afford to leave its hydrocarbon resources in the ground, and as such, will need oil and gas to not only be part of but drive a just energy transition. It is important to ensure that resources are used correctly and that the continent does not transition in a way that hurts Africa. CEMAC countries need to produce every drop of oil and gas they can find to grow the region. There is no reason to apologize and to not use your oil and gas resources. Plan A is oil, Plan B is oil and Plan C is oil. We have no other plan.

Stepping into this picture, the 2024 edition of CAEBF advocates for energy sufficiency in the region. Serving as a platform where regional nations convene, the event addresses the most pressing challenges faced by energy operators in Central Africa. CABEF connects energy industry actors with the aim of accelerating the pace and success of energy projects, with a strategic focus on oil and gas developments.

“CABEF has emerged as an important platform for many reasons: by connecting regional governments and energy operators, it enables direct discussions regarding the challenges and opportunities of the region. The event also connects foreign investors to projects, serving as a catalyst for project development. The AEC is proud to once again endorse this important event and will continue to advocate for an enabling environment in Africa,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

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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