Latest news with #AfricanEnergyBank
Zawya
2 days ago
- Business
- Zawya
Central African Pipeline System Gains Traction as Committee President Returns to African Energy Week (AEW) 2025
In line with the African Energy Week (AEW): Invest in African Energies conference's vision to make African energy poverty history by 2030, Gabriel Mbaga Obiang Lima, President of the Strategic Partnership and Fund Committee for the Central African Pipeline System (CAPS), is returning to this year's edition as a speaker. Lima's participation comes as the development of CAPS - an integrated network of downstream and midstream oil and gas infrastructure - is advancing with an aim to enhance energy access, reduce fuel imports and spur industrial growth in Central Africa. In July 2025, a significant milestone was achieved when the Central African Economic and Monetary Community, the African Petroleum Producers' Organization (APPO) and the Central Africa Business&Energy Forum signed a Memorandum of Understanding (MoU) to kick-start a feasibility study for CAPS. The MoU sets the foundation for participation from up to 11 Central African countries in evaluating the project's viability, regional impact and national contributions. The 6,500km pipeline network will enhance Central Africa's energy market resilience and affordability by optimizing the exploitation, local beneficiation and distribution of Africa's estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas resources. With APPO finalizing the launch of the multi-billion African Energy Bank with the African Export-Import Bank this year, the organization's participation in the MoU and interest in CAPS is timely. The MoU not only strengthens regional collaboration but also strategically positions CAPS to be shortlisted for financing from the new bank. Furthermore, with 18 oil-producing APPO member states focused on accelerating the exploitation of hydrocarbon resources, the organization's involvement in CAPS represents a powerful step toward eradicating energy poverty and enhancing regional energy security. The CAPS project will encompass oil, gas and LPG pipelines, pumping stations, storage terminals, refineries and gas-fired power plants, all contributing to regional energy access and industrial transformation. AEW: Invest in African Energies serves as the continent's premier platform for connecting high-impact African projects such as CAPS with global investors. Under the theme, Invest in African Energy: Positioning Africa as the Global Energy Champion, the event provides a strategic venue for Lima to present updates on CAPS milestones, development timelines and its alignment with Africa's broader industrialization agenda. With the pipeline set to span various countries such as Angola, Burundi, Cameroon, Chad, Republic of the Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Rwanda and São Tomé⪻íncipe, AEW: Invest in African Energies enables Lima to engage directly with policymakers and stakeholders vital to advancing the initiative. 'As Africa advances its 'drill baby drill' agenda, building robust downstream and midstream infrastructure for local energy beneficiation and distribution is critical,' stated NJ Ayuk, Executive Chairman of the African Energy Chamber. 'The CAPS project, under Lima's leadership, is a testament to Africa's breakthrough in closing infrastructure gaps. Projects like CAPS are essential to lifting 600 million people out of energy poverty and providing access to clean cooking for over 900 million.' Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week: AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Qatar Tribune
24-06-2025
- Business
- Qatar Tribune
African nations open to energy cooperation with Turkey: APPO head
Agencies Africa needs to expand its international partnerships beyond traditional allies to fully harness its vast energy resources, the secretary general of the African Petroleum Producers' Organization (APPO) Omar Farouk Ibrahim said, signaling Turkey as a promising partner. 'We are open to all forms of energy cooperation with Turkey,' Ibrahim told Anadolu Agency (AA) in remarks published on Monday. Urging African leaders to move past dependence on former colonial powers and deepen ties with emerging global players like Turkey, Ibrahim said: 'We've naively believed that the same countries which colonized and later left us would be the ones to help us grow.' 'After more than 60 years, despite our abundant resources, we have made little progress, but the world is changing, and fortunately, Africa is changing too,' he added. Turkey's rise on the global stage is being closely watched by Africa. 'Turkey is an ancient and strong civilization with a deeply rooted cultural heritage, and it is advancing technologically once again. This should allow Africa to look beyond the so-called traditional partners we have long relied on to 'save' the continent,' Ibrahim said. He noted that although Turkey has rapidly advanced technologically under challenging conditions, many in Africa remain unaware of its capabilities. Ibrahim called for enhanced public diplomacy, through media, education, and civil society to showcase Turkey's strengths. He also praised long-standing Turkish investments, such as scholarships for African students, as vital to building people-to-people ties. Moreover, Ibrahim noted that the energy transition presents a great opportunity for the continent, as, for the first time, it is forcing the people of Africa to ask a fundamental question of 'Why have we been producing oil and gas and exporting it outside Africa while our own people still lack the basic necessities of life?' 'The energy we send to Europe or America serves luxury, not survival. Here in Africa, the lack of energy leads to death almost every day,' Ibrahim said. He also noted that amid the global energy transition, the West, on which Africa has long relied for technology, financing, and markets, has decided to no longer fund oil and gas projects, leaving the continent increasingly vulnerable. 'We have been forced to establish the African Energy Bank. We are building the energy infrastructure that will enable us to transfer energy from regions of abundance to those in need,' he said. Ibrahim said APPO aims to unite producing countries around shared challenges, particularly about financing. APPO represents nations holding about 10% of the world's oil reserves and producing roughly 8% of global output. The organization's efforts focus on developing intra-African energy infrastructure and securing independent financing through the African Energy Bank. He warned that without funding, technology, and market access, Africa risks losing both its hydrocarbon sector and the chance to benefit from renewables. Ibrahim added that without domestic infrastructure, Africa risks being left behind in the new global energy landscape. 'Even though we have vast renewable potential, we lack the technology to develop it, which means we will again have to rely on others,' he said. He also underscored the continent's minimal role in global emissions, only 3%, and questioned the fairness of restrictions on Africa's use of its hydrocarbon resources, and added: 'Tripling emissions could help Africa industrialize, yet we are being told that we cannot use our resources.' Inviting Turkey to deepen its role in the African energy sector, Ibrahim said: 'If Turkey or Turkish investors wish to join the African Energy Bank, they are more than welcome.' He encouraged Turkish scientists, technologists, and investors to contribute to the development of Africa's oil and gas industry. Support in building cross-border pipelines, linking countries and facilitating the flow of energy and related products, is especially welcome, creating opportunities for a mutually beneficial partnership, Ibrahim said. In recent years, Turkey has taken on an increasingly active role in Africa's energy and mining sectors. Guided by a 'win-win' approach, Turkey has signed strategic cooperation agreements with numerous African countries, including Somalia, Niger, Libya, Egypt, Algeria, Angola, Senegal, Morocco, Sudan, Nigeria, and Djibouti. These deals, which aim to leverage Turkish expertise, technology, and investment capacity to support joint energy projects, have already led to the launch of concrete initiatives, with collaboration progressing swiftly on multiple fronts.
Zawya
12-06-2025
- Business
- Zawya
Can the African Energy Bank Transform the Continent's Refining and Downstream Future?
Set to launch in June 2025 with an initial $5 billion in capital, the African Energy Bank (AEB) is positioned to catalyze a shift in Africa's energy sector. Established by the African Petroleum Producers' Organization (APPO) in partnership with multilateral financial institution Afreximbank, the AEB aims to mobilize capital for upstream, midstream and downstream energy projects, addressing a continent-wide investment shortfall estimated at up to $50 billion annually. By providing accessible, Africa-focused financing, the AEB is expected to reduce dependency on foreign capital and imports, especially in the downstream sector where over 80% of refined petroleum products are currently imported. The AEB's role in advancing refining capacity and downstream development will take center stage at this year's African Energy Week (AEW): Invest in African Energies 2025 conference – taking place from September 29 to October 3 in Cape Town. As Africa's premier platform for energy dialogue and investment, AEW: Invest in African Energies 2025 will spotlight the AEB's potential to transform Africa's energy landscape. Driving Refining Capacity Through Local Investment Despite holding over 125 billion barrels of oil and 620 trillion cubic feet of natural gas, Africa continues to struggle with insufficient refining capacity, forcing nations to export crude oil and re-import refined products at a premium. Institutions such as the African Refiners and Distributors Association (ARDA) have long-advocated for investment in modernizing and expanding Africa's refining infrastructure. Current projections indicate that African petroleum demand will increase from 4.1 million barrels per day (bpd) to 5.3 million bpd by 2040 – a trend that underscores the urgency of building self-sufficient refining systems. As such, the AEB – headquartered in Abuja, Nigeria and scheduled to begin operations in the second quarter of 2025 – is uniquely positioned to support strategic investment across Africa's downstream and refining sectors. With an ambition to grow its asset base to $120 billion, the bank is positioned to unlock domestic value chains and catalyze large-scale projects that meet the continent's rising demand for petroleum. Momentum in Downstream Expansion Recent developments across the continent reflect growing momentum to scale refining capacity. Angola expects phase one of the Cabinda refinery to begin operations in 2025, bringing 60,000 bpd to the market. The country has a goal to increase capacity to 445,000 bpd and is on track to reduce imports of derivatives by 14% by 2026. Nigeria's 650,000-bpd Dangote Refinery began producing diesel and aviation fuel in 2024, marking a significant milestone for domestic processing. Similarly, upgrades to the Port Harcourt Refinery and ongoing expansion to Ghana's Sentuo Oil Refinery highlight national efforts to meet growing demand. Equatorial Guinea's recent agreement with Shanghai SupeZet to build a new refinery and expand the Bata facility further illustrates the strategic push toward local processing. These efforts not only reduce import dependency but also create jobs, enhance energy security and promote regional trade in refined products. Aligning Regional Integration and Investment Africa's refining and energy infrastructure ambitions are closely tied to broader goals of economic integration. The African Continental Free Trade Agreement, ratified by more than 48 countries, creates a platform for cross-border energy projects by removing trade barriers and harmonizing investment policies. It also supports the development of regional supply chains, enhancing the commercial viability of shared infrastructure. The AEB will play a central role in supporting these regional ambitions by working with over 700 African financial institutions and APPO member states to channel funding into integrated, cross-border energy systems. By reducing the time, cost and risk associated with project development, the bank could accelerate the pace of infrastructure buildout across the continent. Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week: AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
07-05-2025
- Business
- Zawya
OTC 2025: Afreximbank to fund African Energy Bank with $19bln
In preparation for its takeoff this quarter, Afreximbank is set to fund African Energy Bank with $19 billion, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has hinted. According to the minister, the coming up of the bank is in a bid to boost energy access and drive economic prosperity in Africa. The minister disclosed this during the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S. He told the audience that the planned establishment of the African Energy Bank by the Africa Petroleum Producers Organisation (APPO) was to bridge funding gaps and ultimately free the continent from energy poverty. 'This is an opportunity to let you know that your concerns are gradually being addressed. 'As members of APPO, we are in partnership with Afrexim Bank, which during our last meeting disclosed that it has an exposure of nearly $14 billion. 'This amount, along with an additional $5 billion as the initial take-off capital, will be transferred to the African Energy Bank—bringing the total to over $19 billion,' the minister said. He further emphasized that the African Energy Bank is scheduled to begin operations within the current quarter. Themed: 'Africa's Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development', Lokpobiri, at the conference, urged African nations to forge a united front in the fight against energy poverty across the continent. He stressed that by working together; African countries can overcome energy poverty, drive economic growth, and improve the lives of millions of people. The minister stated that by pooling resources, African countries can invest in large-scale energy projects, reducing costs and increasing efficiency. According to him, collaboration can facilitate the exchange of best practices, technologies, and expertise, accelerating progress in the energy sector. Also, the minister stressed the need for Africa to develop cohesive policies that are tailored to the continent's unique circumstances, warning that fragmented approaches would be ineffective in addressing the escalating energy deficit. 'This conference is not a jamboree. It is a platform for Nigeria, and by extension, Africa—to showcase its vast potential,' Lokpobiri said. He underscored the importance of regional collaboration, highlighting the Africa Petroleum Producers Organisation (APPO) as a strategic entity established to devise shared solutions for the continent's energy challenges. Lokpobiri also expressed his approval of Donald Trump's return as President of U.S., suggesting it could help decelerate what he termed the 'hypocritical' global energy transition narrative, saying, 'It has put Africa at a disadvantage.' According to him, the prevailing global discourse on energy transition is largely influenced by geopolitical considerations. Lokpobiri called on African nations to repatriate investments held overseas and channel them into the African Energy Bank to bolster the continent's energy security. During a meeting with his Ghanaian counterpart, Lokpobiri advised Ghana to draw lessons from Nigeria's past experiences in the energy sector, particularly in avoiding early missteps. In his address, Ghana's Minister of Energy and Green Transition, Mr John Abdullahi, acknowledged Nigeria's leading role in the region. He stated that while Ghana is a relatively new player in the oil and gas sector, it is eager to learn from Nigeria's experiences and reforms, especially in the areas of local content development and climate policy. 'We will continue to consult Nigeria as we build a successful oil and gas industry. 'The collaboration between both countries remains strong,' Abdullahi said. Earlier, the Chairman of PETAN, Mr Wole Ogunsanya, emphasised the significance of Nigeria's presence at OTC. Ogunsanya said: 'This year's event, under the Nigerian Pavilion, is set to highlight Africa's growing role in the global energy sector. 'OTC 2025 promises to bring together top-tier industry leaders, policymakers, and stakeholders at the world's largest energy event.' He noted that PETAN's consistent participation over the years had significantly contributed to the growth of Nigeria's oil and gas industry. Ogunsanya recalled that two decades ago, the Nigerian National Petroleum Corporation (NNPC) tasked PETAN with coordinating Nigeria's activities at OTC, with the primary objective of attracting investment and fostering strategic partnerships. He underscored the imperative for Nigeria to continue building capacity and driving value creation across the entire oil and gas value chain. The event was well-attended by Nigerian government officials, key stakeholders in the oil and gas sector, exhibitors, and delegates from various West African nations. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
26-03-2025
- Business
- Zawya
Congo Energy & Investment Forum (CEIF) 2025 Ministerial Panel: Republic of Congo to Promote Onshore Acreage in Upcoming Bid Round
The Republic of Congo's Ministry of Hydrocarbons announced that the upcoming 2025 licensing round will focus on onshore blocks in the country's continental basin. The announcement was made on March 25 by Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, during a ministerial panel discussion at the inaugural Congo Energy&investment Forum in Brazzaville. 'Our national development plan [aims to] develop the economy, but we cannot start without the development of hydrocarbons. We have no choice but to take care of hydrocarbons to give the country the capacity to develop,' Minister Itoua stated. During the panel session, Minister Itoua also highlighted the Ministry's plans to collaborate with oil and gas company Trident Energy to valorize associated gas from the country's N'Kossa oil field. The Minister announced it will launch an entity to monetize associated gas not used by international oil companies operating in the country as part of a strategy to reach zero flaring by 2030. Meanwhile, Aimé Sakombi Molendo, Minister of Hydrocarbons of the Democratic Republic of Congo (DRC), announced that the country will hold discussions with the Republic of Congo on March 26 to explore bilateral cooperation and the possibility of co-developing hydrocarbon resources in cross-border basins. This comes as the DRC and Angola are set to kick off discussions with energy major Chevron for the joint development of the common interest zone between the two countries, with a governance agreement having been ratified in December last year. 'We will be discussing with the Republic of Congo bilaterally to see to what extent the two countries can benefit from co-development of our abundant hydrocarbon resources,' Minister Molendo stated. José Barroso, Secretary of State for Mineral Resources, Petroleum and Gas for Angola, indicated the potential for developing joint projects in the energy sector with both the Republic of Congo and the DRC. Barroso highlighted the need to create the requisite technical conditions to incentivize national companies to participate in their respective markets in the three countries. 'In the pipeline, we have projects that we are discussing amongst ourselves, and in the short future, we will be able to communicate more on this,' Barroso stated. Meanwhile, Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), discussed the role the upcoming African Energy Bank will have on resource monetization and development in Africa. Spearheaded by APPO and the African Export-Import Bank, the bank aims to facilitate, promote and finance the development of Africa's oil, gas and energy industries. According to Dr. Farouk, both the bank and the private sector will have an important role to play in ensuring that regional markets move forward and drive cross-border development. 'None of our countries have what it takes to address the challenges of energy by themselves. The African Energy Bank is an example of how Africa wants to be independent and be in control of its resources,' Dr. Farouk stated. An outline of the Republic of Congo's 2025 licensing round will be presented during the Congo Energy&Investment Forum. Distributed by APO Group on behalf of Energy Capital&Power. About the Congo Energy&Investment Forum: The inaugural Congo Energy&Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
