Category: English

Source: APO

Africa will need at least $125 billion in refining investment through 2050 across current projects, future projects and maintenance, Abderrezak Benyoucef, Head of the Energy Studies Department at OPEC, said in a fireside chat with Eithne Treanor, Founder and CEO of ETreanor Media, at African Energy Week (AEW) 2026 in Cape Town. OPEC also distributed hard copies of a new study on Africa’s medium- and long-term energy outlook at the session, ahead of its online publication.

“Talking about capacity, we have also to talk about how much we get from these refineries,” Benyoucef said. With utilization at around 55%, African refineries currently process less than 3 million bpd. OPEC expects the continent’s distillation capacity to grow by 3.2 million bpd to around 7.9 million bpd by 2050, with utilization rising to about 80%, close to the global average. Even so, capacity will remain short of African oil demand, which OPEC projects will rise from 4.9 million bpd to 9.2 million bpd.

Drawing on the dedicated Africa section of OPEC’s 2026 World Oil Outlook, OPEC Secretary General Haitham Al Ghais said the continent’s population will grow by around 917 million people by 2050 and that its GDP will grow faster than any other regions, at an average of 4.4% a year. Africa holds an estimated 120 billion barrels of proven crude reserves and 18 trillion cubic meters of proven gas reserves. He called for greater access to finance for energy projects suited to each country’s circumstances. “Africa cannot and should not be expected to forgo development opportunities, energy security and poverty eradication in response to a problem which it had very little to do with the creation of,” he said.

Benyoucef said African liquids supply currently stands at around 7.6 million bpd, about 7% of the global total. OPEC expects supply from African producers outside the Declaration of Cooperation to rise from 2.3 million bpd in 2025 to 3 million bpd by 2050, though demand will continue to outpace supply. Under OPEC’s reference case, around 700 million Africans will still lack access to clean cooking in 2050. The organization’s alternative scenarios, which assume stronger economic growth and greater investment in technology, bring that figure down.

Al Ghais closed by inviting delegates to the 10th OPEC International Seminar at the Hofburg Palace in Vienna on July 7-8, 2027, where he said African issues will be a major component of the discussions.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Guinea-Conakry plans to have five operational alumina refineries by 2030, with three already under construction, Daouda Diakité, Senior Adviser to Guinea’s Minister of Mines and Geology, announced during a ministerial panel at African Mining Week (AMW) 2026 in Cape Town on Wednesday.

The target forms part of Guinea’s Simandou 2040 strategy, which aims to transform the country from a raw mineral exporter into a regional processing and industrial hub. Under the plan, Guinea is targeting between seven and eight million tons of annual alumina production capacity by 2030, alongside investments in steel manufacturing, power generation and downstream infrastructure.

“Simandou 2040 is a strategy to shift from being a raw material exporter to developing a strong processing base that can sustain the country’s downstream sector. To achieve this, we are encouraging investment in domestic aluminum and steel production, as well as power projects that can support downstream development.,” he stated.

The strategy seeks to leverage Guinea’s extensive bauxite and iron ore resources to establish domestic processing industries, creating new opportunities for investment in refining, industrial infrastructure and electricity supply.

Diakité said the country is also advancing plans for domestic steel production linked to the Simandou iron ore project, with feasibility work underway.

“The steel from Simandou has to be processed in Guinea, and we are finishing the feasibility study for that,” he added.

Guinea is also working to operationalize a gold refinery, expanding its downstream ambitions beyond bauxite and iron ore.

Uganda is similarly positioning mineral processing as a driver of industrial growth and regional trade. Monica Musenero Masanza, Minister of Energy and Mineral Development, said the country is leveraging 10 gold refineries to provide processing services to neighboring East African markets.

“Rather than every nation enduring the high cost of building refineries, Uganda offers a regional solution. We allow our East African neighbors to bring gold in tax-free for toll processing, and because our operations run on excess renewable energy, the final product is truly green gold,” she stated.

Beyond gold, Uganda is expanding domestic processing capacity for tin, targeting 99.9% purity, while advancing iron ore and phosphate beneficiation to support infrastructure development and agriculture.

“Uganda’s rapid development requires massive amounts of steel and fertilizer. With 14 companies lined up to produce steel billets from local iron ore and active plans to process our phosphate reserves, we are adding value to our minerals directly to build our infrastructure and fuel our agricultural needs,” Masanza added.

Meanwhile, Egypt is positioning itself as a logistics and infrastructure partner for African mineral-producing countries, with plans to strengthen connections between mining operations, processing facilities and international markets.

Mohamed Zada, Deputy Minister for Strategic Industries, highlighted opportunities for cross-border investment in power generation, port infrastructure and mineral transport networks to support the continent’s expanding downstream sector.

“Egypt’s strategic location makes it a natural logistics hub. By partnering across the continent to build power plants and seaport infrastructure, we can optimize supply chains and bring Africa’s finished mineral products to global markets,” he stated.

The announcements at AMW 2026 highlight a growing emphasis on developing the refining, manufacturing and logistics infrastructure required to retain more mineral value within Africa, opening new investment opportunities across the continent’s mining value chain.

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

Source: APO

Uganda is on track to begin commercial oil production by June 2027, with first exports to follow through the East African Crude Oil Pipeline (EACOP), according to Kristina Kasebayo, Head of Compliance at the Uganda National Oil Company (UNOC). Speaking during a fireside chat at African Energy Week 2026 in Cape Town, Kasebayo reaffirmed the country’s production timeline while outlining plans to reach a final investment decision (FID) on its domestic refinery in February 2027, targeting completion by 2030.

“First oil will start before the end of our financial year – June 2027 – which will position us as an oil producing country,” Kasebayo said, adding that EACOP is currently 92% complete, with first crude exports expected to follow the start of production.

The milestone will mark a significant step for Uganda, nearly two decades after the country’s first commercial oil discoveries in 2006. While Uganda has established substantial upstream resources, the development of export infrastructure and supporting regulatory frameworks has been critical to bringing those resources to market. EACOP will transport Ugandan crude to a port in Tanzania, providing access to international buyers.

“The challenge was never getting the oil out of the ground, but having the infrastructure and regulation in place,” Kasebayo explained, noting that the requisite agreements are now in place.

Alongside its export ambitions, Uganda is advancing plans for a domestic refinery aimed at strengthening national energy security and supporting local fuel supply. The development forms part of Uganda’s strategy to capture greater value from its hydrocarbon resources by combining international crude exports with domestic processing capacity.

“We intend to take FID for the domestic refinery in February 2027 and expect the refinery to be complete by 2030,” Kasebayo said.

Uganda is also preparing to market its crude internationally under the name Pearl Sweet, drawing on the country’s identity as the Pearl of Africa. According to Kasebayo, the crude grade has already gained international recognition, positioning Uganda to engage global buyers as export infrastructure nears completion.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Liberia has launched its 2026 Offshore Direct Negotiation Licensing Round, offering 15 offshore blocks across the Liberia and Harper basins as the country seeks to attract exploration investment and advance the development of its petroleum sector.

Announced on October 14 in Cape Town alongside African Energy Week 2026 and African Mining Week, the round was launched by the Liberia Petroleum Regulatory Authority (LPRA) and organized by Energy Capital & Power (ECP). The campaign invites qualified companies to pursue individual blocks through direct negotiations, with the licensing process closing on April 15, 2027.

LPRA Director General Marilyn T. Logan called on investors to submit letters of intent and highlighted the potential for exploration success to shape Liberia’s petroleum industry.

“Our petroleum system works,” Logan said. “Whichever company makes the first discovery will play a significant role in the history of our country.”

15 Offshore Blocks Available for Negotiation

The licensing round comprises twelve blocks in the Liberia Basin – LB-1, LB-2, LB-3, LB-7, LB-12, LB-13, LB-14, LB-18, LB-19, LB-20, LB-21 and LB-23 – and three in the Harper Basin – LB-25, LB-28 and LB-33.

The acreage targets Cretaceous structures, deepwater basin-floor fans and structural closures along Liberia’s Atlantic margin. The offering provides investors with opportunities to evaluate frontier exploration prospects in a region with established petroleum system indicators and potential for further discoveries.

The round is supported by more than 80,000 km of seismic data, including over 50,000 line-km of 2D seismic and 31,000 km² of 3D surveys, alongside gravity, magnetic and well-log datasets.

Geophysical data company TGS has reprocessed 12,000 km of 2D seismic using Pre-Stack Depth Migration, as well as 5,100 km² of 3D seismic data, to improve subsurface imaging and support prospect evaluation.

“There’s a working petroleum system offshore Liberia,” said Jason Robinson, Managing Director at ENARJI and former Director of Business Development at TGS. “It’s been a prolific system across the margin and there are significant fan-plays that go out into the very deepwater.”

Direct Negotiations Offer Flexible Entry

Under the direct negotiation framework, qualified companies can pursue individual blocks and negotiate proposed exploration programs with the LPRA. Applicants must demonstrate technical capability, financial strength and relevant offshore experience.

The process is governed by Liberia’s 2014 Petroleum Exploration and Production Act and its 2019 amendments. The framework is designed to provide investors with a route to acreage access while maintaining qualification requirements and regulatory oversight.

Fiscal terms and regulatory predictability were highlighted as important considerations for prospective investors. LPRA Deputy Director General for Finance Robert Sonkarlay said the authority is prepared to accommodate changing market conditions and the needs of participating companies.

“Investors are not just looking to find attractive fiscal terms; they’re also looking for fiscal predictability,” Sonkarlay said. “We can assure that our terms are flexible and benchmarked. We will ensure that our terms adapt to changing markets and the needs of interested participants.”

LPRA Board Member Kau Dorilae also emphasized the importance of investor engagement and consistency in the country’s investment framework. She noted that prequalification remains valid for five years, allowing companies to establish eligibility before pursuing specific block opportunities.

Government Backs Offshore Exploration Campaign

Liberian President Joseph Nyuma Boakai reaffirmed the government’s support for the licensing round in a prerecorded address delivered during the launch.

“Today, I assure you that the journey you are about to begin with Liberia through the LPRA carries the full support of the Liberian government and is guided by principles that this administration is dedicated to stand for,” Boakai said.

Preparations for the campaign included an investor day in Houston on August 19, 2026, followed by the opening of prequalification on August 28. The campaign forms part of Liberia’s efforts to engage international exploration companies and attract investment into its offshore petroleum resources.

With 15 blocks available through direct negotiations, the 2026 licensing round provides a structured pathway for qualified companies to assess Liberia’s offshore potential and advance discussions on exploration opportunities.

For information on the licensing round and prequalification requirements, visit the LPRA’s official licensing round page (https://apo-opa.co/47kJzXe) or contact lpra2026submission@lpra.gov.lr.

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

Source: APO

African Mining Week (AMW) 2026 officially opened on Wednesday with keynote addresses from regional leaders, regulators and international stakeholders, underscoring the vital need for deeper regional integration, localized value addition and strategic global partnerships to drive mining growth across the continent.

Patrick Mulindwa Lubega, Chief of Staff of the Africa Minerals Strategy Group (AMSG), stressed that African producers must leverage the surging global demand for critical resources to deliver socioeconomic benefits for local communities.

“The world’s appetite for African minerals is growing rapidly – copper for the power grid, lithium for batteries and gold as a strategic reserve,” Lubega stated. “The core question must be how these mineral export initiatives leave our people with real skills and economic benefits – we cannot simply be left with holes in the ground. The true measure of our mineral wealth lies in the jobs we create and the industrialization we foster.”

To secure these long-term gains, Lubega emphasized the pivotal role of state-owned enterprises in negotiating equitable, high-value deals with international investors.

He pointed to the launch of the AMW African National Mining Companies Forum as a key milestone. The forum has brought together state mining entities from Malawi, Libya, Egypt and Kenya, along with an official delegation from Eswatini observing best practices to accelerate the creation of its own national mining firm.

“This forum is not about locking out the global market; historically, our governments regulated a sector in which they rarely participated as commercial actors. National mining companies allow us to directly participate and partner with the private sector to advance our shared agenda for local and regional value addition.”

Hon. Dr. Monica Musenero Masanza, Uganda’s Minister of Energy and Mineral Development, backed Lubega’s call for local impact, arguing that mining must be defined by investments made across the entire value chain rather than mere extraction.

“Mining on its own does not equal true industrialization,” Masanza stated. “No matter what you extract, you are starting with raw ore, and only about 10% of a mineral’s potential value is realized at the initial mining stage. We must focus on how we can maximize economic benefits by taking raw materials like tin mined in Uganda and adding significant value to them domestically.”

Ashley Ndir, Principal Commercial Officer at the U.S. Commercial Service under the U.S. Department of Commerce, underscored the U.S government’s commitment to partnering with African mineral producers across the entire mining value chain.

“The mere presence of resources means nothing unless we transform them into long-lasting economic value; we must focus on building resilient supply chains that deliver real economic gains for local populations,” Ndir stated. “There is a clear alignment between the United States and Africa. African nations are seeking opportunities for local and regional value addition, while the U.S. is focused on building more diversified, resilient critical mineral supply chains – and these objectives mutually reinforce each other.”

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