APPO Advocates for Stronger Oil Firms at Africa Energy Week

The African Petroleum Producers Organization (APPO), represented by Secretary-General Farid Ghezali, is advocating for the strengthening of national oil companies across Africa and improved negotiations with international oil companies (IOCs) to ensure that host countries gain greater benefits from their oil and gas resources. Ghezali made these statements during Africa Energy Week in Cape Town, South Africa, where oil-producing nations presented exploration opportunities to attract foreign investment.

He emphasized the need for stronger partnerships as African countries open promising oil and gas basins to international investors. Ghezali also called for more commitment from foreign investors, highlighting that previous pledges to drill exploration wells have not always been fulfilled.

The push for investment comes amid geopolitical conflicts and shifting projections about peak oil. Various African countries, including Senegal, Algeria, Namibia, and Uganda, showcased their upstream opportunities to potential investors, with a growing trend of reconnaissance agreements and memorandums of understanding (MOUs) facilitating international exploration efforts.