Yolisa Nyoka joins Africa Oil & Power (AOP) (www.AfricaOilandPower.com) – the continent’s leading energy investment platform – as its new Director of Programming, effective February
Africa Oil & Power’s top priority remains to keep our people, partners, and clients safe. Therefore, the dates of our scheduled events are subject to change as we monitor the global progress of COVID-19. Please check our website for updates and for your safety, click here to read our COVID-19 Event Guidelines.
Angola Oil & Gas, the official meeting place and investment platform for the Angolan oil industry, is back in 2021 for its second edition. In an era of post-COVID-19 recovery, AOG 2021 is a critical event for the government and the private sector to engage, make deals and move forward with national oil and gas projects.
January 14, 2021
Angola, as the second-largest oil producer in sub-Saharan Africa, holds approximately 8.2 billion barrels of proven oil reserves. Contributing to 50% of gross domestic product and nearly 90% of national exports, oil represents an invaluable resource to the domestic economy. The country also holds the fourth-largest proven natural gas reserves in Africa – approximately 343 billion cubic meters – along with significant renewable potential in solar and wind. In a bid to offset declining hydrocarbon production, the Angolan Government has implemented several key initiatives focused on spurring new exploration activities, increasing foreign direct investment and incentivizing local participation within the industry. Accordingly, Angola is set to become a prime investment destination in 2021, as it seeks a year of revival for its prolific oil and gas industry.
Sihle Qekeleshe, Web Editor
Image: AfDB
The African Development Bank (AfDB) has announced that it has opened two credit lines totaling $70 million, for Angola and Mozambique.
According to the Vice President of the AfDB, Mateus Magala, Angola and Mozambique will use the funds – which are received through Lusophone Compact – to develop projects in their countries. These projects are said to be aligned with the Bank’s five operational priority areas; ‘Light up Africa, Industrialize Africa, Integrate Africa, Feed Africa, and Improve the quality of life of people in Africa.’
“The projects in Angola and Mozambique are more advanced, with two lines of credit recently approved by the AfDB totalling $70 million to support Small and Medium Enterprises in these countries through commercial banking”, said Magala.
Nana Madwe December 28, 2020
In the past twelve months, the global oil and gas industry has faced significant disruption from COVID-19 and resultant dual supply and demand shocks. In its annual review, Africa Oil & Power (AOP) highlights the key developments that have not only shaped 2020, but also influenced energy investment and policy on the continent in 2021 and beyond.
January
Africa Oil acquired 50% ownership interest in Petrobras Oil and Gas BV for $519.5 million. The remaining 50% will be retained by BTG Pactual E&P. With a view to extensive deep offshore exploration potential in the country, join AOP at the first-ever Nigeria Oil, Gas & Power 2021 Conference & Exhibition for two days of discussions and deal-making surrounding Nigeria’s upcoming gas monetization initiatives, downstream diversification and marginal fields licensing round.