October 2026 (Volume: 43 / Issue: 10)
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Tag: Africa

Energy, Oil & Gas

Falling battery prices expose Africa’s energy storage investment gap

Africa is struggling to translate falling battery prices into increased investment in energy storage, with financing constraints, regulatory uncertainty and infrastructure planning gaps slowing deployment, according to the latest ESI Africa Industry Insights: Energy & Storage Volume 5 (2026)....

Energy, Oil & Gas

Africa needs $125bn in refining investment through 2050, says OPEC

Africa will need at least $125 billion in investment in oil refining through 2050, including funding for new projects, existing facilities and maintenance, an OPEC official said at African Energy Week 2026 in Cape Town, South Africa, as the continent's oil demand is projected to outpace refining capacity, said a report....

Energy, Oil & Gas

Africa set for record 17 GW solar installations in 2026

Africa is on track to install a record 17 gigawatts (GW) of solar capacity in 2026, with around three-quarters expected to come from distributed systems that remain underrepresented in official statistics, according to analysis by Ember published in October....

Energy, Oil & Gas

AEC, GSMS Sign MoU to connect Canadian gas supplies with African demand

The African Energy Chamber (AEC) has signed a memorandum of understanding (MoU) with Canadian project developer and commodities broker Ground State Market Solutions (GSMS) to assess and advance liquefied petroleum gas (LPG) and liquefied natural gas (LNG) supplies from Canada to African markets, with an initial focus on West Africa....

Energy, Oil & Gas

AFC supports $550m bond to clear Nigeria’s power sector debt

Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, has announced its role as Co-Financial Adviser on the close of a ₦728.9 billion ($550 million) Series 2 power sector bond issued by NBET Finance Company under Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP)....

Energy, Oil & Gas

Namibia’s 5MW green hydrogen facility charts path to global energy hub

Namibia is advancing Africa’s energy transition with its first fully integrated green hydrogen facility in Walvis Bay, combining solar power, hydrogen production and energy storage to support industrial decarbonisation and strengthen long-term energy resilience....

Energy, Oil & Gas

Nigeria targets up to $50bn offshore O&G investment by 2030

Nigeria is aiming to attract between $30 billion and $50 billion in offshore oil and gas investments by 2030 as it works to revive crude production, increase energy output, and strengthen its position as Africa’s leading energy producer....

Energy, Oil & Gas

Heirs Energies' $750m financing named 'Best Oil & Gas Deal of the Year'

Heirs Energies Limited, Africa's leading indigenous-owned integrated energy company, has been recognised on the global stage after its landmark $750 million dual-tranche senior secured reserve-based lending (RBL) facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026....

Energy, Oil & Gas

Africa faces energy planning shift amid rapid AI expansion

AI is rapidly increasing global electricity demand, with data centres scaling to gigawatt levels. Africa faces a mismatch between rising AI-driven needs and incremental energy planning, requiring more reliable, large-scale, integrated power infrastructure development....

Energy, Oil & Gas

Abu Dhabi's Global South Utilities boosts Africa renewables portfolio

Abu Dhabi-based Global South Utilities (GSU) has achieved several major milestones in 2025, including the expansion of its renewable energy portfolio across Africa, thus contributing to powering more than 500,000 homes. In Egypt, it was part of an international consortium to develop a $220m solar plant facility. ...

Energy, Oil & Gas

Chevron’s Africa engagement sets IOC benchmark

Chevron’s Africa operations highlight the gap between sustainability commitments and real impact, emphasising community investment, environmental protection, workforce development and local economic participation across Nigeria, Angola and the wider region. ...

Energy, Oil & Gas

KEC secures key power project contracts in Saudi Arabia

KEC International, a global infrastructure engineering, procurement and construction (EPC) major and a unit of key Indian conglomerate RG Group, has announced that it has secured the largest composite order from Saudi Arabia for setting up 380 kV transmission lines, substations and EHV Cabling in the kingdom. ...

Energy, Oil & Gas

Expansions, discoveries drive Africa’s emerging LNG market

Africa’s LNG and gas sector is entering a dynamic growth phase, driven by expansions of major export projects, the scaling of floating liquefaction capacity by emerging producers, and the commercialisation of large undeveloped gas discoveries....

Energy, Oil & Gas

Africa’s power gap could define next investment cycle

Nearly 600 million people in Africa lack electricity, with access growth failing to match population increases. While the IEA estimates $15 billion in annual investment is needed for universal access, current commitments remain under $2.5 billion. This widening funding gap, amid rising demand, presents a significant long-term commercial opportunity. ...

Energy, Oil & Gas

Masdar, Octopus team up on clean energy in UK, Africa

Masdar, a clean energy leader, and Octopus Energy, an energy tech disruptor, have signed two Memoranda of Understanding (MOUs) for initiatives in the UK and Africa. Masdar and Octopus will look to work together to free up hidden capacity across the UK’s distribution network to power the next generation of data centres....

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