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BY: Hana Saada
Cotonou, October 29, 2023 – Mohamed Arkab, Algeria’s Minister of Energy and Mines, is set to participate in the 44th ordinary session of the Council of Ministers of the African Petroleum Producers Organization (APPO). This meeting is scheduled to take place from October 29 to November 2, 2023, in Cotonou, the capital of Benin. Preceding this significant event will be the ordinary meeting of the APPO Executive Council, where they will review reports from the Organization’s Secretariat to formulate recommendations for the Council of Ministers.
The Council of Ministers from African oil-producing nations will deliberate on the Organization’s Annual Work Plan and its 2024 budget. This session provides a crucial opportunity for ministers to assess the progress in implementing various resolutions adopted in Luanda in 2022, as well as to make decisions based on outcomes from thematic meetings, the Executive Council gathering, and ultimately, to pass resolutions.
One noteworthy agenda item is the proposal for the establishment of a bank dedicated to financing energy projects in the gas and oil sector in Africa. This initiative is being developed in collaboration with the African Export-Import Bank (Afreximbank). The creation of this energy bank is aimed at reducing the dependency on foreign financing. As stated by the Secretary-General of APPO, Omar Farouk Ibrahim, “APPO member countries are collaborating with Afreximbank to launch an energy bank by the end of this year.”
The Republic of Benin, represented by Samou Seïbou Adambi, Minister of Energy, Water, and Mines, has held the rotating annual presidency of the African Petroleum Producers Organization since January 1, 2023.
Established in 1987, APPO encompasses 18 member countries, including Algeria, Angola, Benin, Cameroon, Congo, Côte d’Ivoire, Gabon, Niger, Nigeria, Chad, the Democratic Republic of the Congo, Egypt, Equatorial Guinea, Libya, South Africa, Ghana, Namibia, and Senegal (new APPO members). Additionally, Venezuela participates as an observer. APPO’s mission is to foster cooperation among member nations and other international institutions in the field of hydrocarbons, aspiring to become a leading global institution in matters concerning African hydrocarbons.
The 44th APPO meeting is a significant platform for African oil-producing nations to collaborate and shape the future of the continent’s energy landscape, with a focus on self-reliance and sustainable development.
