APPO Approves Egypt’s Suggestion for Promoting African Petroleum Industry 

APPO Approves Egypt’s Suggestion for Promoting African Petroleum Industry 

The African Petroleum Producers Organization (APPO) approved the Minister of Petroleum and Mineral Resources Tarek El Molla’s suggestion to establish a task force to strengthen the cooperation between APPO’s member states and promote the African petroleum industry and make use of its available potential and expertise, according to a press release.

During an online meeting, APPO have selected Egypt to lead the partnership between the Africa Energy Investment Corporation (AEICORP), the Arab Petroleum Investments Corporation (APICORP), and the African Export Development Bank.

El Molla added that the member states have approved to establish a permanent headquarters for the organization in Brazzaville, Congo, in addition to preparing a detailed study on the future of oil and gas in Africa that will be carried out by five of the member states. The study would take into consideration the coronavirus crisis and the Paris Agreement, and will issue practical recommendations accordingly.

The member states delved into the negative impact of the increasing smuggling of crude oil and petroleum products in Libya, condemning these actions and inviting the international community to take the necessary measures in this regard.

This was APPO’s 38th Ministerial Conference and was attended by oil and gas ministers from 15 African countries, out of the 18 member states of the organization.


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