#AfricanOil
AEC warns Wild Coast ruling could deter investment in African oil and gas #WildCoast #AfricanOil #GasInvestment #EnergySector #InvestmentRisks
AEC warns Wild Coast ruling could deter investment in African oil and
South Africa’s Constitutional Court has blocked Shell (LSE/NYSE: SHEL) and Impact Africa from continuing offshore oil and gas exploration along the Wild Coast, ending a five-year legal battle over an exploration right granted in 2014. The African Energy Chamber (AEC) criticised the ruling, saying it could weaken South Africa’s energy security and discourage investment in African oil and gas projects. For the AEC, the ruling raises a broader question about how African countries can develop their resources while addressing legitimate environmental and community concerns. “Africa cannot afford to leave its natural resources underground while millions of people struggle with energy poverty and unemployment,” said NJ Ayuk, executive chairman of the AEC. “Communities must be heard, but consultation cannot become a permanent veto over responsible development. Lawfare that drives away investment ultimately hurts the very economies and communities it claims to protect.” The AEC said the ruling comes at a critical time for South Africa’s offshore industry. Major discoveries in neighbouring Namibia have turned the Orange Basin into one of Africa’s leading exploration frontiers, attracting international oil giants including Shell and TotalEnergies (EPA/LSE/NYSE: TTE) and raising expectations for future investment, production and government revenues. The chamber said South Africa shares the same geological opportunity but faces a more complicated operating environment. It warned that exploration capital could move to countries with clearer licensing rules, more predictable regulation and fewer risks of lengthy legal disputes. The Wild Coast case also forms part of what the AEC sees as a wider continental trend. The chamber has criticised what it describes as Western-backed “lawfare” against African energy projects, including legal challenges involving the East African Crude Oil Pipeline (EACOP) and opposition to Mozambique’s LNG developments. The AEC said that governments should enforce environmental standards and ensure communities are consulted, but argued that legal action should not become an indefinite barrier to resource development. According to the chamber, the issue is particularly important for countries facing energy shortages and the Wild Coast ruling should prompt a wider debate about Africa’s ability to develop its resources according to its own economic needs. More than 600 million Africans still lack access to reliable energy, while many economies depend on imported fuels and are exposed to volatile international prices. The AEC believes that domestic oil and gas development can generate revenues, jobs and feedstock for power generation and industry. The chamber has called for legislation that provides clear consultation requirements, firm regulatory timelines and predictable investment rules while maintaining environmental safeguards and community participation. The AEC said it would continue advocating for responsible resource development and a stronger African voice in global energy discussions, including at African Energy Week 2026 and wider COP talks.
dlvr.it
August 27, 2026 at 10:06 PM
African independent oil and gas companies expand upstream role as IOCs divest assets #AfricanOil #GasIndustry #EnergyTransition #IOCs #UpstreamOil
African independent oil and gas companies expand upstream role as
African independent oil and gas companies are expanding their role in the continent’s upstream sector as international oil companies (IOCs) sell mature assets and local operators take on larger production portfolios. The trend will be discussed in October at the African Energy Week (AEW) 2026 conference in Cape Town, the African Energy Chamber (AEC) said in a media release. At AEW 2026, an African Independents Roundtable will examine how indigenous companies are managing acquisitions, securing financing and expanding into gas, refining, petrochemicals and power. The roundtable will also explore inherited environmental liabilities linked to mature onshore and shallow-water projects as energy majors Shell (LSE/NYSE:SHEL), ExxonMobil (NYSE:XOM), Eni (BIT:ENI, NYSE:E), Equinor (NYSE:EQNR) and other IOCs continue their retreat. According to the AEC, African independents are planning to expand beyond crude production into gas processing, refining, petrochemicals and power generation as they take ownership of strategic oil and gas infrastructure. Nigeria’s Seplat Energy (NGX:SEPLAT, LSE:SEPL) is one example. After completing its acquisition of Mobil Producing Nigeria Unlimited, the company reported H1 2026 working-interest production of 139,500 barrels of oil equivalent per day (bopd), up 15% from the previous quarter. It revived 24 idle wells, adding 26,000 barrels per day (bpd) of capacity. Seplat also began gas production from the ANOH Gas Project with capacity of 300mn cubic feet (mmcf) per day, equivalent to about 8.5mn cubic metres (mcm) per day, in January. Furthermore, the company is advancing the Oso-BRT Phase 1 development, a strategic offshore gas project. Nigerian integrated energy company Oando (NGX:OANDO, JSE:OAO) reported first-half revenue of about $1.5bn, facility uptime of 92% and average production of 42,789 bpd as it integrated assets acquired from Eni. The company is also progressing a $1.5bn financing programme to support a five-year, 100-well drilling campaign. In Angola, Azule Energy, a 50:50 independent joint venture of BP (LSE/NYSE:BP) and Eni, is advancing the Agogo Integrated West Hub Development, which includes what the company describes as the world’s first purpose-built green FPSO. Azule is targeting production of 250,000 bpd by the end of 2026 and is also expanding into Namibia’s Orange Basin. African operators are also increasing their presence further down the value chain. Aradel Holdings (NGX:ARADEL) has expanded its Ogbele modular refinery to 11,000 bpd, while private indigenous energy firms Heirs Energies, Aiteo, Chappal Energies and Springfield E&P are pursuing acquisitions, gas commercialisation, gas-to-power generation and brownfield developments. According to the AEC, these companies represent just a fraction of the indigenous operators demonstrating their ability to take on larger assets and attract further investment. The AEW roundtable will examine funding options for such companies, including reserve-based lending, trader-backed finance and partnerships with African development banks. “Africa’s independent operators are proving they have the technical capability, financial discipline and long-term vision to lead the continent’s next energy chapter,” said AEC’s executive chairman NJ Ayuk. “AEW 2026 provides the platform where these companies, investors and policymakers can shape the partnerships needed to scale production, strengthen energy security and ensure Africa captures more value from its own resources.”
dlvr.it
August 21, 2026 at 8:12 AM
February 14, 2025 at 8:21 AM