Category: Africa

Source: APO – Report:

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Venezuela is positioning itself for accelerated oil and gas growth, targeting a near-term increase in production from 1.1 million barrels per day (bpd) to 1.2 million bpd, with a 2027 objective of 1.5 million bpd and a longer-term return toward its installed capacity of 2.8 million bpd. For African investors and service companies, the message is clear: there is structured opportunity, backed by regulatory reform, defined contract models and political commitment at the highest levels.

This strategic direction was reinforced during high-level engagements between the African Energy Chamber (AEC) and Venezuela’s petroleum leadership. Part of a high-level working visit to Caracas this week, the Chamber met with Eduardo Antonio Ramirez Castro, Deputy Minister of Hydrocarbon Geopolitics, Luis González, Deputy Minister of Gas and Jovanny Martinez Executive Vice President at the state-owned oil corporation PDVSA. The parties agreed to draft a 12-month joint work plan covering upstream cooperation, refining rehabilitation, gas commercialization, finance structuring, trade flows and training implementation.

“This was not a symbolic engagement – it was a serious, high-level discussion where Africa was clearly recognized as a strategic partner. The fact that all ministers in charge of the petroleum sector were present, including Deputy Minister of Petroleum Eduardo Antonio Ramirez Castro, Deputy Minister of Gas Luis González and the highest executive of the PDVSA, is a strong signal that Venezuela is ready to drive its hydrocarbon sector forward,” stated NJ Ayuk, Executive Chairman of the AEC.

“There is a clear understanding within the Ministry and at PDVSA of what African companies have achieved across complex and mature hydrocarbon markets. They have an aggressive, structured plan to develop their fields and accelerate production, and they are ready to move,”  he added.

Towards a Venezuelan Hydrocarbon Resurgence

Venezuela holds approximately 303 billion barrels of crude reserves – largely concentrated in the 54,000 km² Faja del Orinoco, home to 272 billion barrels – alongside 195 trillion cubic feet of gas. With 56,000 wells already drilled and over 100,000 additional wells targeted in the coming years, the scale of redevelopment potential is significant.

Considering this potential, discussions during the Caracas meetings centered on joint rehabilitation of priority PDVSA assets, including mature oil fields, Category 2 and 3 wells suitable for rapid workovers, offshore assets such as Perla and Mariscal Sucre and refinery upgrades at Paraguaná, El Palito and eastern facilities. These projects represent relatively low-capex entry points capable of delivering incremental barrels in the short term.

The country’s January 29 Hydrocarbons Law reform, alongside administrative simplification measures and optimized fiscal terms, is designed to attract new participation. Investment vehicles include Production Participation Contracts (CPPs), ATFs and Empresas Mixtas – a form of private-public partnership. Officials highlighted the success of existing CPP structures – including Petrozamora, which reportedly increased production from 23,000 bpd in 2024 to 100,000 bpd in 2026 – as evidence that the model can deliver growth.

The AEC will facilitate African participation in these structures, supporting evaluation of asset data, commercialization rights and export provisions. Majority shareholders retain export freedom, while minority partners may export under defined pricing conditions – clarity that enhances bankability. Finance will underpin execution. Premier Invest – also a participant at the meetings – is expected to structure trade finance backed by PDVSA barrels and inventory, alongside project and infrastructure finance for upstream and midstream rehabilitation. Capital mobilization discussions include Gulf partners, African national oil companies and private operators.

Strengthened South-South Energy Corridors

Gas development and Global South trade also emerged as strategic priorities. Venezuela aims to scale production from approximately 4,100 million cubic feet per day (mmcf/d) toward a 6,000–6,500 mmcf/d range, supporting domestic supply, industrial feedstock and future LNG and LPG exports. For Africa, this presents dual opportunity.

First, African firms with experience in offshore gas, LNG modularization and pipeline development can participate in infrastructure recovery and expansion. Second, commercial trade flows – particularly LPG and bitumen – offer immediate South–South cooperation pathways. The parties explored establishing long-term LPG supply channels to African markets to support clean cooking programs and reduce energy poverty. Structured bitumen agreements could also provide African infrastructure markets with more stable supply and lower import premiums.

Beyond hydrocarbons, education and technical exchange were identified as strategic pillars. Structured one-week technical programs for African executives at Venezuelan petroleum institutions, including the Bolivarian University of Hydrocarbons, will form part of a reciprocal exchange model covering petroleum engineering, geology, trading and energy law.

For the AEC, the engagement signals a shift toward deeper South–South hydrocarbon integration – positioning African companies not only as domestic operators, but as outward investors and strategic partners in one of the world’s largest resource bases.

– on behalf of African Energy Chamber.

Source: APO – Report:

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A high-level working visit to Caracas by the African Energy Chamber (AEC) (https://EnergyChamber.org) this February marked a significant step in strengthening Africa–Venezuela cooperation, moving engagement beyond hydrocarbons toward broader South–South trade and investment opportunities. The discussions focused on removing longstanding transactional bottlenecks and boosting bilateral trade in goods, services and industrial collaboration.

Leading discussions with Coromoto Godoy Calderón, Minister of Foreign Trade of the Bolivarian Republic of Venezuela, the AEC delegation explored strategies to expand African markets for Venezuelan goods while facilitating reciprocal African investment in Venezuela. The visit emphasized creating a comprehensive framework for trade that extends beyond oil and gas, promoting manufactured goods, services and skills exchange.

“Together with the Minister, we discussed opening up African markets on a Global South–South strategy,” said NJ Ayuk, Executive Chairman of the AEC. “A priority is working on Venezuelan goods in Africa – not just energy. We are committed to removing bottlenecks, improving regulations and building a framework that accelerates trade and development between our regions.”

The visit also addressed potential alignment with the African Continental Free Trade Area, signaling new pathways for Venezuelan products to access African markets under continental trade frameworks. This reflects a growing interest in integrated commercial engagement that leverages shared resources and strengthens economic ties between African nations and Venezuela.

Institutional cooperation was another key focus. The AEC and Venezuelan authorities agreed on the importance of sharing best practices to position Venezuela as an attractive partner for African investors. Programs are being developed to promote Venezuelan products in African markets while encouraging investment in Venezuela’s broader non-oil economy.

Financial collaboration is central to this strategy. The delegation met with the Venezuelan Export–Import Bank to explore partnerships with African regional development banks and export finance institutions. These initiatives aim to facilitate trade finance, streamline payments and reduce transaction risks, providing a clearer, bankable framework for industrial and commercial projects.

Both sides pledged to showcase Venezuela in key African trade platforms, including the Intra-African Trade Fair organized by Afreximbank, and African Energy Week 2026, where Venezuelan products and expertise can be highlighted. Capacity-building workshops are planned to strengthen skills and technical exchange, reinforcing long-term trade and industrial collaboration.

The working visit marks a shift from energy-centered engagement to a broader, market-oriented partnership. By addressing regulatory challenges, expanding institutional cooperation and promoting trade-enabling frameworks, Africa and Venezuela are laying the foundations for reciprocal investment, industrial growth and deeper integration across the Global South.

“Our focus is on enabling trade that drives development. By working together to break down bottlenecks and expand commercial exchange, we are helping to shape a future in which African and Venezuelan economies grow stronger through partnership – not just in energy, but across the full spectrum of goods, services and investment,” Ayuk added.

– on behalf of African Energy Chamber.

Source: APO – Report:

Introduction

Cameroon’s 2026 licensing round represents one of the most structured and commercially compelling entry points into  proven producing basins in Central Africa in recent years. Within its mandate to promote and valorise hydrocarbon resources in the national oil and gas domain of the Republic of Cameroon, the The Société Nationale des Hydrocarbures (SNH) has brought to market nine blocks located in the Rio del Rey and Douala/Kribi-Campo basins, all of which lie in close proximity to existing producing fields and are supported by 2D and 3D seismic coverage, drilled wells, discovery wells, identified leads and undrilled prospects. This is taking place in a country with approximately 200 million barrels of proven oil reserves (U.S Energy Information and Worldometer Data) and significant gas potential, governed by a modern legislative framework under Law No. 2019/008 of 25 April 2019 instituting the Petroleum Code, its enabling acts and and Decree n° 2023/232 of May 04, 2023.

For investors, the decisive question is whether their bid satisfies the legal and regulatory conditions for participation and evaluation. Entry into the round is determined at the submission stage by a number of mandatory parameters: the choice of petroleum contract under the Petroleum Code, the commitment to a minimum work programme within the exploration periods, the ability to meet the corporate, technical, financial, environmental and local content requirements set out in the Call for Expression of Interest. These are the criteria against which bids will be assessed.

This article sets out the legal and regulatory framework governing participation in Cameroon’s 2026 licensing round. It focuses on the mandatory requirements bidders must satisfy under the Petroleum Code and the SNH Call for Expression of Interest.

Key Milestones in the Bidding Process

Although the licensing round was launched on 1 August 2025, the process is now approaching its final stages. With the data consultation period closing on 15 March 2026 and the bid submission deadline fixed for 30 March 2026, prospective bidders are in the critical phase of finalising their technical evaluation, corporate structuring and financing arrangements. At this stage, the focus is on the preparation of a compliant and competitive proposal. The Call for Expression of Interest sets out the procedural timetable below.

No	Milestone	Date
1	Launch of the licensing round	1 August 2025
2	Opening of data consultation period	1 September 2025
3	Close of data consultation period	15 March 2026
4	Deadline for submission of proposals	30 March 2026 – 12:00 noon (local time)
5	Public opening of proposals in the presence of all bidding companies or their representatives:	30 March 2026- 13:00 (local time)
6	Publication of the results:	24 April 2026

Participation in the Licensing Round: Pre-Qualification and Eligibility

Participation in the licensing round is subject to the pre-qualification requirements of the Petroleum Code and the Call for Expression of Interest. Under Law No. 2019/008 of 25 April 2019 Sections 2 and 7, petroleum operations may be conducted only by a petroleum company, defined as a commercial company or public industrial and commercial establishment with the technical and financial capacity to carry out such operations in safe, hygienic and environmentally safe conditions, accordance with applicable laws and international standards.

The process is open to both Cameroonian and foreign petroleum companies and there is no nationality restriction. A foreign company must, prior to the signing of the petroleum contract, establish a locally registered subsidiary that will remain in place for the duration of the contract. Participation is therefore limited to legally constituted entities, and the corporate, financial and operational documentation required in the proposal effectively excludes individuals.

Bids may be submitted by a single company or by a consortium. In the case of a consortium, the legal structure of the bidding vehicle is examined prior to the technical evaluation of the proposal and, where only one petroleum company is involved, that company must act as operator and hold the majority participating interest.

The Call for Expression of Interest further provides that the State reserves the right, following evaluation of proposals and notification of the results, to enter into negotiations with several companies simultaneously for a given block with a view to securing the most favourable contractual terms. It also retains the discretionary power to accept or reject any proposal without assigning reasons. This underscores the competitive nature of the process and the importance of submitting a proposal that is not only technically and financially credible but also fully compliant with the legal and corporate requirements of the round.

Assets on Offer and Minimum Work Programme Commitments

The Call for Expression of Interest invites bids for nine exploration blocks located in the Rio del Rey and Douala/Kribi-Campo basins. Bids may be submitted for one or more blocks, subject to compliance with the proposal requirements.

Each block is associated with a defined minimum work obligation which must be reflected in the bidder’s technical and financial offer. These commitments constitute the baseline for the evaluation of the proposal and are summarised below.

Work Obligation	Block(s)	Minimum Work Program Requirement
3D Seismic Acquisition + 1 Exploration Well	Ntem, Tilapia, Etinde Exploration, Elombo	Drilling of at least one exploration well during the initial exploration period together with 3D seismic acquisition and geoscience studies
2D/3D Seismic Acquisition + 1 Exploration Well	Kombe-Nsepe, Bomono	Drilling of at least one exploration well during the initial exploration period together with 2D and/or 3D seismic acquisition and geoscience studies
3D Seismic Reprocessing + 1 Exploration Well	Bolongo Exploration	Drilling of at least one exploration well together with reprocessing of available 3D seismic data and geoscience studies
2D/3D Infill Seismic + 1 Exploration Well	Ndian River, Bakassi	Drilling of at least one exploration well together with 2D/3D infill seismic acquisition

Mandatory Selection of the Petroleum Contract

The Call for Expression of Interest requires each bidder to specify in its proposal the type of petroleum contract for which it is applying. The choice of contract is therefore a mandatory condition for participation in the licensing round and forms part of the admissibility of the bid.

In accordance with section 14 of Law No. 2019/008 of 25 April 2019 instituting the Petroleum Code, upstream petroleum operations in Cameroon are conducted under one of the following contractual models concluded with the State:

(a) Concession Contracts: where the holder shall be responsible for financing petroleum operations and, in accordance with the terms of the contract, dispose of the hydrocarbons extracted during the contract validity period, subject to the right of the State to collect royalties in kind.

(b) Production Sharing Contracts: where the holder shall be responsible for financing petroleum operations and, hydrocarbon production shall be shared between the State and the holder in accordance with the terms of such contract.

(c) Risk Service Contracts: where the holder shall be responsible for financing petroleum operations and, shall be remunerated in cash in accordance with the terms of such contract.

The legal and fiscal consequences of the choice of contract, shape the entire bid. From a financing perspective, it determines how reserves are booked, how lenders analyse the revenue stream and how the contractor’s return is structured. From a governance perspective, it determines the degree of operational control, the mechanisms for cost recovery and the conditions under which the State exercises its supervisory powers.

Consortium Structure and Operator Requirement

The Call for Expression of Interest permits bids to be submitted by a single company or by a consortium. In all cases, the bidding vehicle must satisfy the qualification requirements of the Petroleum Code.

In practical terms, this means that operational responsibility must rest with a petroleum company. Where a consortium includes only one petroleum company together with other investors, that company is required to act as operator and to hold the majority participating interest. This allows financial or strategic partners to participate in the project while ensuring that the entity responsible for petroleum operations has the technical and financial capacity required by law.

The legal and corporate structure of the consortium is examined before the technical and financial evaluation of the proposal. The composition of the consortium, the allocation of participating interests and the identification of the operator must therefore be established at the time of submission.

In practical terms, the legal architecture of the consortium is assessed before the geological interpretation of the block or the scale of the work programme. The bid therefore succeeds or fails first as a corporate structure and only subsequently as a technical proposal.

Training Budget as a Mandatory Financial Commitment

Beyond the technical work programme, the Call for Expression of Interest requires bidders to incorporate a defined training budget into their financial offer. The minimum amount is set at USD 100,000 per year during the exploration phase and USD 250,000 per year during the development and exploitation phase.

This obligation forms part of the financial parameters on which the proposal is evaluated and must therefore be reflected in the bid at the time of submission.

From a regulatory perspective, the training budget is one of the instruments through which the State implements the national capacity-building objectives of the Petroleum Code. It operates as a contractual commitment linked to the duration of petroleum operations and must be integrated into the overall project economics from the outset.

Environmental Protection and Local Content

The Petroleum Code integrates environmental protection and local content into the core obligations of the contractor. Sections 87, 88 and 89 require the promotion of employment and training of Cameroonian nationals, the use of local goods and services and the development of national technical capacity.

The SNH requires bidders to submit a specific note explaining how the proposed work programme will address environmental protection and how it will implement the local content obligations established by the Code. These elements are therefore part of the competitive assessment of the bid. Investors who integrate them into their operational model at the bid stage are structurally better positioned to move rapidly into the development phase.

Conclusion:

Cameroon’s 2026 licensing round provides access to blocks located in established producing basins with available subsurface data. At this stage of the process, the differentiating factor for bidders is the ability to submit a compliant proposal supported by demonstrable technical and financial capacity and a credible work programme.

Early and strategic engagement with experienced legal, technical and financial advisers is therefore imperative. The structure adopted for the bid must satisfy the requirements of the Petroleum Code and the SNH’s call for Expression of Interest while at the same time producing a project capable of attracting capital and moving to first production within the contractual timeframe.

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CLG advises investors throughout the licensing process, from the structuring of a compliant bidding vehicle to the preparation of the proposal and the negotiation of the petroleum contract. With an established presence in Cameroon and across the Central African energy market, CLG also supports the post-award phase, including regulatory approvals, joint venture arrangements and the implementation of the legal framework required to move from licence to first production.

Achare Takor
Senior Associate, CLG Cameroon

– on behalf of CLG.

Source: APO – Report:

A delegation from Senegal’s Petrosen E&P is confirmed to attend Caribbean Energy Week (CEW) 2026 in Paramaribo, presenting a key opportunity to deepen technical collaboration with Suriname’s Staatsolie and other regional stakeholders. The visit underscores a growing recognition that, despite being separated by the Atlantic, Senegal and Suriname face remarkably similar geological and upstream challenges – from seismic interpretation to field development strategy.

The Petrosen E&P delegation will include Ababacar Mbengue, Director of Promotion & Exploration; Frederic Arsène Boissy, Head of Promotion Department; and Mohamed Sonko, Databank Manager, reflecting a strong technical and strategic focus. Their participation signals Petrosen’s intention to engage not only at a policy level, but through detailed technical dialogue spanning exploration data management, promotion strategy and subsurface evaluation.

Senegal has emerged as a model for offshore development in West Africa. Discoveries such as SNE‑1 and FAN‑1, identified through detailed seismic interpretation, paved the way for developments including the Sangomar oil field, producing around 100,000 bpd, and the Yakaar‑Teranga gas project. Senegal has also been central to the Greater Tortue Ahmeyim (GTA) LNG project, a deepwater cross-border gas development co‑owned by Petrosen and partners, which launched gas exports last year. These projects required not only technical excellence but also careful planning and execution in moving from exploration success to sanctioned field development – lessons that Suriname, with its fast-expanding offshore program, is keen to absorb.

Suriname’s state energy company, Staatsolie, is stepping into the upstream spotlight within the Caribbean basin. Recent seismic activity – including multi-client 3D surveys offshore Saramacca and Coronie – demonstrates the country’s commitment to rigorous geological evaluation as part of its Open‑Door Offering program, designed to attract international investment. Deepwater agreements, such as the production sharing contract with Petronas in Block 66 and the commercial declaration of the Sloanea gas discovery in Block 52, further highlight the basin’s potential and the need for advanced subsurface expertise to manage reservoir uncertainty and appraisal risk.

Both nations share striking geological parallels. Senegal’s MSGBC Basin and Suriname’s Guyana-Suriname Basin are rich in hydrocarbons but technically demanding, requiring precision in seismic interpretation and basin modelling and analysis. These shared challenges make knowledge exchange particularly valuable, helping both countries accelerate upstream maturity while minimizing exploration and development risks.

CEW 2026, taking place from 30 March to 1 April, provides the ideal platform for this collaboration. The conference brings together policymakers, investors, NOCs and technical experts to showcase the region’s energy potential while fostering partnerships and capacity-building initiatives. The Senegalese delegation’s participation will highlight practical lessons from the country’s offshore successes, offering Surinamese stakeholders actionable insights for their own projects.

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.

– on behalf of Energy Capital & Power.

Source: APO – Report:

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The Ministry of Education branch in the Northern Red Sea Region, in collaboration with the teachers’ association branch in the region, provided capacity upgrading training to over 80 pre-school teachers from the sub-zones of Ghinda, Massawa, Sheib, Gelalo, Foro, and Dahlak.

Mr. Girmay Zerayakob, head of human resources development at the education office, said that the theoretical and practical training covered pedagogy, the use of teaching materials, as well as the care and guidance of children.

Noting that the effectiveness of the training should be measured by the results achieved on the ground, Ms. Gemila Hassan, head of pre-school education, and Mr. Salah Hassan, head of the teachers’ association, called on the trainees to apply the knowledge they gained in their daily teaching activities.

Ms. Amna Salah, head of administration and finance at the regional education office, noted that investment in children makes a significant contribution to enhancing the capacity of the education sector and called for the organization of sustainable capacity upgrading training programs.

– on behalf of Ministry of Information, Eritrea.

Source: APO – Report:

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A funeral service for Professor Asmerom Legesse was held today at Asmara’s Evangelical Lutheran Church Cemetery in Asmara in the presence of Ministers, senior Government and PFDJ officials, religious leaders, and family members.

Prof. Asmerom was a prominent and illustrious anthropologist who produced important research on various themes during his tenure at the Universities of Harvard, Boston, Northwestern, Chicago, and others.

Prof. Asmerom served his country and people in various capacities over the past four decades. These include, among others, serving as Chairman of the U.S. branch of the Eritrean Relief Association from 1984 until independence; publishing well-researched documents on the atrocities perpetrated by the Ethiopian regime against Eritreans and Ethiopians of Eritrean origin in 1998; documenting and exposing extensive gender-based violence committed by the Ethiopian army during its occupation of various areas, particularly in the Senafe sub-zone during the border war; and playing a significant role in foiling attempts to dehumanize Eritrea in 2015 through allegations of human rights violations.

Professor Asmerom Legesse passed away on 31 January at the age of 94 in the United States.

Expressing deep sorrow over the passing of Prof. Asmerom, the Ministry of Foreign Affairs conveyed its condolences to his family and friends.

– on behalf of Ministry of Information, Eritrea.

Source: APO

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The Africa’s Green Economy Summit (AGES) 2026 opened its doors in Cape Town today, marking a pivotal moment in the continent’s economic trajectory. Convening a powerful coalition of policymakers, financiers and innovators, the summit signals a decisive shift from conceptual ambition to concrete, bankable action in the pursuit of a sustainable African future.

Under the banner of “From Ambition to Action: Scaling Opportunities in Africa’s Green and Blue Solutions,” AGES 2026, proudly sponsored by Sanlam Investments, is not merely a forum for discussion but a catalyst for deal-making and partnership. The gathering is built on a singular premise, that Africa’s environmental challenges are, in fact, its greatest economic opportunities.

“Ambition lights the path, but it does not pave it. To transform our economies and uplift our communities, we must move beyond rhetoric to robust execution,” said Lerato Mbele, Summit Moderator. “This summit is a marketplace of ideas where we connect visionaries with investors, ensuring that Africa’s green transition is not just sustainable, but also scalable and profitable.”

The strategic focus of this year’s agenda is underpinned by compelling data. The summit is shining a spotlight on the blue economy, a colossal yet often under-leveraged asset that already injects nearly $300 billion annually into the continent’s GDP and sustains 46 million livelihoods through fisheries, tourism and logistics. Simultaneously, the green economy, with agriculture and renewable energy at its core, is projected to unlock a staggering $10 trillion in global business value over the next decade, positioning Africa to generate an estimated 300 million new jobs for its burgeoning youth population.

These are not distant prospects, but immediate frontiers for investment and innovation.

Echoing this sentiment, the Honourable Naren Singh, Deputy Minister of Forestry, Fisheries and Environment, addressed delegates with a call for holistic progress. “Our journey towards a low-carbon future must be defined by a fundamental truth: sustainability is a three-legged stool, balancing the health of our planet, the prosperity of our people and the creation of shared value,” he stated. “By investing in our natural capital, we are investing in the most resilient infrastructure of all our communities.”

Over the next two days, the summit floor will be a hive of activity. Attendees will engage in high-level interactive sessions, witness live project pitches from Africa’s most promising green entrepreneurs, and participate in curated networking forums designed to fast-track collaboration and knowledge transfer.

AGES 2026 is more than an event, it is a declaration that Africa is ready to build a future where economic resilience and environmental stewardship are the same.

Distributed by APO Group on behalf of VUKA Group.

For media enquiries and interview requests:
Elize Engle
Pr1@tishalacommunications.com
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About Africa’s Green Economy Summit (AGES):
Africa’s Green Economy Summit (AGES) is a premier pan-African platform dedicated to accelerating Africa’s transition to a sustainable, inclusive, and climate-resilient economy. Hosted by VUKA Group, AGES brings together policymakers, investors, project developers, innovators and business leaders to unlock green finance, scale bankable projects, and drive actionable solutions across energy, mobility, infrastructure, agriculture, water, waste, and the blue economy. Through high-level content, deal-making opportunities, and strategic networking, AGES turns ambition into action for Africa’s green future.

About VUKA Group:
VUKA Group brings people and organisations together to connect through platforms that drive growth and transformation across Africa’s key industries. With over 20 years of experience on the continent, VUKA delivers sector-leading platforms across Energy, Mining, Mobility, Retail, Sustainability, and Women Empowerment—creating spaces where knowledge is shared, partnerships are formed, and real economic impact is achieved.

For more information or registration: www.GreenEconomySummit.com