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The ministers of the Organization of African Petroleum Producing Countries announced the development of a unified vision in line with the common African position, with regard to the exploitation of hydrocarbons through the African Union; To be presented at the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), which is hosted by Sharm El-Sheikh.
This came during the launch of the forty-third regular session of the Council of Ministers of the Organization of African Petroleum Producing Countries, on Friday, through the videoconferencing technique.
According to the statement of the Algerian Ministry of Energy, the ministers of the Organization of African Petroleum Producing Countries affirmed their support for all human efforts aimed at combating the risks of climate change, while emphasizing the need to use new technologies that allow the use of fossil fuels with a minimum carbon footprint.
The participants in this session, which was chaired by the President of the Organization for the current year, Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas of the Republic of Angola, also discussed the topic “The future of the oil and gas industry in Africa and the transition towards renewable energies.”
The African ministers identified the looming challenges that the oil and gas industry in Africa will face in light of the decreasing investment and financing of the oil and gas industry.
With regard to the financing of energy projects in the continent, the Council of Ministers of the Organization of African States decided to search for resources on the continent in order to raise the necessary capital to continue financing the oil and gas industry, and they agreed that Africa needs to review its strategy in light of the current changes, with the need to search for African expertise. in technology, finance and markets.
