Gas
African Energy Chamber pushes for expanded oil and gas output
The African Energy Chamber has urged regional governments to accelerate petroleum exploration and reject external pressure against fossil fuels.
Key points
- AEC chairman NJ Ayuk advocates for a mixed energy strategy to combat power shortages.
- Regional hydrocarbon output is anticipated to reach 11 million barrels of oil equivalent daily in 2026.
- The proposed Africa Energy Bank aims to ease project financing constraints.
Exploration and production outlook
According to reporting by THISDAYLIVE, African Energy Chamber Executive Chairman NJ Ayuk has urged regional administrations to fast-track petroleum searches and secure local capital. During a recent industry gathering, Ayuk defended an inclusive energy mix that pairs hydrocarbons with renewables to tackle persistent power shortages.
Global market conditions remain robust, with US Energy Information Administration figures placing Brent spot prices at 126.55 US dollars per barrel on 14 October 2026. Regional hydrocarbon output is anticipated to reach 11 million barrels of oil equivalent daily during 2026, before rising to 12.5 million by 2030, with major contributions expected from Nigeria, Algeria, Angola, Libya and Egypt.
Investment and regulatory challenges
Ayuk highlighted the forthcoming Africa Energy Bank, supported by the African Petroleum Producers Organisation and Afreximbank, as a vital domestic financing avenue. He criticised international funding restrictions on fossil fuel projects and called for stronger regional banking support.
For Nigeria, he noted that revised deepwater terms are crucial for capturing investments. He also advised South Africa to resolve regulatory hurdles in the Orange Basin, while cautioning governments against unpredictable resource nationalism that could repel foreign partners.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Gas is the flexible backbone of many grids and the designated transition fuel in many national plans, from LNG trade to domestic LPG and CNG. Supply security and pricing drive both power reliability and emissions.
21.9% of electricity in the world came from gas in 2024Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
