– Outlining future of Africa’s energy industry
Paris, France — OPEC Director of Research Dr. Ayed S. Al-Qahtani will deliver a keynote address at the upcoming Invest in African Energy (IAE) 2024 forum in Paris, affirming the importance of African oil supplies in global affairs.
Home to six OPEC member countries, the African continent is playing a growing role in global supply discussions, accounting for a rising percentage of OPEC-led production. Libya and Nigeria represent Africa’s two largest producers – according to OPEC’s latest monthly oil report – both producing approximately 1.2 million barrels per day (bpd). While Angola left the organization at the end of last year, OPEC is said to be in talks with Namibia – which could be Africa’s fourth-largest producer by 2030, on the back of prolific offshore discoveries – and other African nations that represent the next generation of African oil production.
IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact [email protected].
Consisting of 22 nations, OPEC and its allies have been committed to maintaining oil supply cuts to boost barrel prices amid economic uncertainty. The alliance has implemented cuts of more than five million bpd since the end of 2022 and is extending voluntary cuts of 2.2 million bpd into mid-2024. The IAE forum will feature technical discussions around Africa’s oil outlook, exploring supply, demand and price forecasts based on various energy transition scenarios.
“IAE 2024 welcomes the participation of OPEC in leading critical supply discussions, as African producers seek to incentivize new exploration and develop recent offshore discoveries. The forum will share high-level insights into current and future efforts to ensure market stability, as well as highlight Africa’s growing influence on the global energy stage and the importance of African solidarity,” says Sandra Jeque, Event & Project Director at forum organizers, Energy Capital & Power.
