Africa is yet to see anything close to a full return on its massive oil and gas resources. With one-third of the continent – almost 500 million people – still having no access to electricity, ending energy poverty across Africa is among the planet’s most urgent challenges.
Nigeria and other African nations have expressed commitment toward the development of their 620 trillion cubic feet of proven gas reserves, targeted at bolstering energy security, industrialization and environmental sustainability.
Increased exploration, wise investments, welcoming dispositions, and attractive economic policies are but the first few steps of that journey
The Bulk Oil Storage and Transportation (BOST) has said it will continue to explore new markets within West Africa for petroleum products while preparing to transition from a purely oil and gas company to a full energy company.
Africa Finance Corporation (AFC) (www.AfricaFC.org), the leading infrastructure solutions provider on the continent, is partnering with the Government of Senegal to fund the development of the landmark Sangomar oil field.
Africa’s leading oil producers and exporting countries, depend heavily on the natural resource for their foreign exchange earnings.
According to the Organization of Petroleum Exporting Countries (OPEC), Nigeria has reclaimed its status as the continent’s top producer of crude oil for the month of May 2023.
The World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has thrown her weight behind calls for a just energy transition framework for African countries, saying balance must be sought between the desire for a cleaner, more sustainable environment and the continent’s need for development.
The Ghana National Petroleum Corporation (GNPC) CEO has called for concerted action by African states for the development of an African strategy to meet the continent’s energy needs.
As part of the African Energy Chamber’s Invest in African Energy reception in Dubai on Thursday – representing the fourth stop on the Chamber’s global investment tour – a panel discussion was held to unpack the latest developments, trends and opportunities within Africa’s shifting exploration and production (E&P) landscape.