Connect with us
Anglostratits

Business

Transition to Green Energy Must be Sensible, Pragmatic and Rational, Says Afreximbank’s Rene Awambeng

Published

on

African Energy Reception

Speaking during the Invest in African Energy Reception in London, Afreximbank’s Global Head of Client Relations, Rene Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda

LONDON, United Kingdom, January 27, 2023/APO Group/ — 

The Invest in African Energy Reception (https://AECWeek.com/news/) kicked off in London with opening remarks by African Energy Chamber Executive Chairman, NJ Ayuk, and Rystad Energy Co-Founder and Chief Analyst, Per Magnus Nysveen, followed by an opening address delivered by Rene Awambeng, Global Head of Client Relations at the African Export-Import Bank – a partner of the event. During his address, Awambeng provided insight into what the institution’s recommendations are regarding Africa’s climate agenda.

Firstly, Awambeng emphasized that Africa only accounts for less than 3% of global emissions, and therefore should be recognized as not the cause of excessive carbon, but rather, the victims of climate change. At the same time, considering the many oil-dependent economies in Africa, with GDP measuring as high as 25% for some, the continent should be able to establish a sensible plan for a just and fair transition.

“We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing. The transition to green energy must be sensible, pragmatic and rational. It must recognize the enormity of the continent’s unmet economic development aspirations, the necessity to take urgent actions to address its ever-widening development gap and the continent’s vulnerability to climate change,” Awambeng stated. 

We must use this opportunity to promote an approach to reducing global carbon emissions while sustaining current livelihoods which Africa is championing

As such, Awambeng detailed a strategy towards a just and inclusive transition. Key aspects include supporting the implementation of the African Continental Free Trade Agreement (AfCFTA) to reduce emissions associated with shipping, moving away from exporting raw minerals that support the green economy and scaling up domestic value chains; enhancing foreign capital to finance the just transition and establishing African-based financing mechanisms to support industry growth.

“We must give ourselves a breather to use the natural resources at our disposal to urgently deliver our development needs and simultaneously deploy these to promote investments in green energy. We must proactively and collectively intensify our efforts to implement the AfCFTA, as it is a clear path to mitigating carbon emissions while sustaining lives and livelihoods. We must all support the creation of the Africa Energy Transition Bank so that the continent can take control of its own future. We must back the African Energy Chamber (https://EnergyChamber.org/) so that it can intensify its thought leadership on this subject and ensure that Africa’s voice is heard as loudly as possible on issues that matter to us regarding energy.”

Meanwhile, Awambeng emphasized the need to take urgent action to address the development gap in Africa and the continent’s vulnerability to climate change. In addition to energy investment, focus needs to be placed on climate investment, with the continent requiring up to $277 billion per annum to combat climate change. With Africa currently receiving less than $28 billion of the required funds, Awambeng urged the developed world to honor its commitments to climate financing and incentivized African stakeholders to create their own mechanisms and instruments to honor such commitments. 

“Afreximbank is supporting the promotion of a number of such innovative instruments and programs that can catalyze global finance and help close the funding gap for the necessary climate action while not sacrificing the development priorities of the continent. The Liquidity and Sustainability Facility represents one such innovative instrument…Initially launched by UNECA at COP26 in Glasgow, we expect to conclude the first deal in the course of this conference, to be fully funded by the Afreximbank.”

In closing, Awambeng reiterated the need for a just transition in Africa, one that prioritizes carbon emission reduction and economic growth, simultaneously. 

“While decarbonization is at the center of the global climate agenda, it is evident that Africa, which has hardly carbonized, cannot contribute much to decarbonization. Africa’s priority is to find the money to fight poverty and fund mitigation and adaptation investments.”

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

Published

on

Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

Continue Reading

Business

Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

Published

on

IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

Published

on

The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

Continue Reading

Trending