African intergovernmental organization the African Petroleum Producers Organization (APPO) held an executive retreat to discuss the future of the African oil and gas sector amidst the ongoing energy transition on July 8-9. The retreat was in preparation for the opening ceremony of APPO’s 18th Executive Board Meeting which will be held on Thursday June 11, where the Republic of the Congo’s Minister of Hydrocarbons Bruno Jean Itoua and APPO’s Alternate President will give an opening address.
The eagerly anticipated African Energy Bank will launch by June 30 after selecting a host nation this month and hopes to raise an initial $5 billion from African signatories, international financiers and Middle Eastern states, its head told S&P Global Commodity Insights.
At the meeting of heads of NOCs and energy ministers of member-countries of the African Petroleum Producers’ Organisation (APPO) in Nigeria (Abuja), the CEO of GNPC said the energy transition is inevitable, but even the most developed countries still rely heavily on fossil fuels and are rethinking the pace at which the transition should take place.