Algerian Radio
The Minister of State, Minister of Hydrocarbons, Mohamed Arkab, participated this Monday via videoconference in the proceedings of the 49th extraordinary ministerial meeting of the Council of Ministers of the African Petroleum Producers' Organization (APPO), according to a statement from the Ministry.
The meeting was dedicated to reviewing and debating several priority issues regarding the functioning of APPO and the prospects for developing its actions. This included organizational and institutional aspects, assessing the implementation level of its programs and activities, as well as the organization's roadmap and strategic priorities for the upcoming phase, the same source specified.
The proceedings were chaired by APPO Secretary General Farid Ghezali, with the participation of the President of the APPO Executive Board, Karrol Kadiata Leta. The latter is currently in Algeria as part of a working visit by the Democratic Republic of Congo's (DRC) Minister of State and Minister of Hydrocarbons, Acacia Bandubola Mbongo, who is leading a high-level delegation. Ministers of Petroleum and Energy, along with representatives of APPO member states, also participated.
The meeting focused on the development of the African Energy Bank project, a strategic initiative aimed at providing sustainable financing mechanisms for oil, gas, and energy projects across the African continent. This initiative is expected to help support investment, enhance energy security, and foster the economic development of member states.
The ministers also discussed recent developments in global energy markets and their impact on African oil and gas-producing countries. They explored ways to strengthen cooperation and partnership among member states amidst ongoing transformations in the international energy sector.
Founded in 1987, APPO's mission is to enhance cooperation and coordination among member states across various segments of the hydrocarbons industry, both upstream and downstream. This is achieved through the exchange of expertise and information, as well as the coordination of policies and strategies related to the development and exploitation of hydrocarbon resources.
The organization comprises 18 member states (Algeria, Angola, Benin, Cameroon, Congo, Côte d'Ivoire, Democratic Republic of Congo, Egypt, Equatorial Guinea, Gabon, Ghana, Libya, Namibia, Niger, Nigeria, Senegal, South Africa, and Chad), with the Bolivarian Republic of Venezuela serving as an honorary member.
The organization's member states hold over 90% of the African continent's proven oil reserves, making APPO an essential framework for strengthening African energy integration and supporting joint initiatives aimed at valorizing natural resources and achieving sustainable development on the continent.
