The African Export and Import Bank (Afreximbank) has one billion dollars, which will serve to set up a financial institution, essentially focused on supporting the oil and gas operations of national companies, members of the Organization of Oil Producers (APPO), said Monday, in Luanda, the chairman of the Board of Directors of Sonangol, Gaspar Martins.
The official who assumed the presidency of the Forum of national oil companies, as host, during the 3rd Meeting of Presidents and Directors of the member companies of the Organization of African Oil and Gas Producing Countries (APPO), which Angola hosted under the motto “Energy transition”, indicated that the national oil companies will also contribute with a quota, to be discussed, to strengthen the portfolio of Afreximbank, for the implementation of actions to support the oil activity. “National companies, members of the APPO, should find other types of sources to strengthen Afreximbank’s portfolio, so that it can support the operations of the activities of oil and gas producing companies. African country to finance oil and gas activities in Africa”, he said.
He acknowledged that, despite the efforts of most national oil-producing companies to contribute to the establishment of an African bank to support the oil activity, some have structural and financial difficulties, even having advanced with some steps towards the implementation of the process. Debate The 3rd Meeting of Presidents and Directors of national companies of the Organization of African Oil and Gas Producing Countries (APPO), discussed topics related to “Options for financing oil and gas projects and operations”, “Cross-border infrastructures and regional”, “Options for developing resources and partnerships”, “Structures and mechanisms for managing local content”, “The training and specialization of Human Capital”, “Technology for the oil and gas industry” and “The APPO collaboration and joint activity options.
The Organization of National Enterprises of African Oil and Gas Producing Countries (APPO), which was created in 1987, with the aim of helping State institutions to maintain cooperation in the Oil and Gas sector for the economic growth of Africa, taking into account the improvement in the living conditions of the populations, it is made up of 17 countries, namely Algeria, Angola, Benin, Cameroon, Republic of Congo, DRC, Côte d’Ivoire, Equatorial Guinea, Egypt, Gabon, Ghana, Libya, Namibia, Nigeria, South Africa and Chad.
Sonangol leads African group of producing companies Sonangol takes over the management of the African Petroleum Forum, testimony received from Nigeria, during the third meeting of national oil companies of the African Petroleum Producers Organization (APPO) member countries, which took place on Monday at the Intercontinental Luanda Hotel. The Secretary of State for Oil and Gas, José Barroso, on behalf of the Minister of Mineral Resources, Oil and Gas, praised the opportunity for the participants to jointly contribute to the creation of an African agenda that leverages resources for the development of savings. “We, African oil-producing countries, have to follow our own agenda on the energy transition and not that of third parties.
We must use mineral resources to help our countries improve the living conditions of our populations”, he emphasized, adding that “it is urgent to use all the financial resources that come from oil, registering high prices, to diversify economies and reduce dependence on oil.” The host of the meeting, Gaspar Martins, noted the importance of the meeting to strengthen the bonds of brotherhood, cooperation and collaboration, crucial in the process of creating the essential requirements for the sustainability, promotion and development of the energy industry. Sonangol’s CEO also highlighted the organization’s role in materializing Africa’s energy strategy. “In order to ensure the sustainability of the industry and the energy security of the continent, APPO has a crucial role, as the body responsible for promoting cooperation in the field of hydrocarbons in member countries and promoting collaboration, as well as the creation of partnerships, having in oil the catalyst for energy security, sustainable development and economic diversification in Africa”, he said.
