AGP Executive Report
Last update: 9 hours agoUpstream: Vaalco has completed the first exploration phase at offshore Côte d’Ivoire’s CI-705 block and won approval to proceed, with an exploration well due by the end of 2028. COP31 and finance: Climate talks opened in Antalya amid a fight over funding, as African countries push to triple adaptation finance. Renewables and grids: The IEA forecasts 4,800GW of new renewable capacity worldwide by 2031, with Africa and Asia among the growth leaders; outdated grids remain a barrier to integrating clean power. Energy sovereignty: Afreximbank and the African Petroleum Producers’ Organization have formally established the Africa Energy Bank to finance the continent’s energy sector. Regional infrastructure: Mozambique and Zimbabwe pledged closer energy cooperation, including through a pipeline under construction. Industrial costs: Nigerian listed manufacturers spent N820.7bn on fuel and power in the first nine months of 2026, up 6.3% year on year, squeezing margins.
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