The African Energy Chamber (AEC), representing the continent’s energy sector, called on OPEC member countries and their partners to take bold steps to overturn global restrictions on fossil fuel financing. This came during the opening of the 9th OPEC International Seminar held in Vienna where the Chamber emphasized the urgent need to restore upstream investment and challenge policies that withhold critical funding from African nations.
“Africa has borne the brunt of contradictory global energy policies. While developed nations continue to fast-track public and private investments into natural gas to bolster their own energy security, multilateral institutions enforce blanket bans on upstream oil and gas financing that disproportionately restrict African countries,” said the Chamber. This led to energy access limitation and stopped industrial growth in the continent.
Furthermore, the AEC urged OPEC members to pressure multilateral institutions to drop restrictive policies, direct investment toward underfunded markets, and adopt a realistic dual-track energy transition strategy that reflects the differing challenges of the Global North and South.
The AEC is a dynamic, non-profit advocacy and advisory body, founded in 2018, pushing for Africa-led energy development and bridging indigenous companies, governments, and international investors to forge a resilient, self-determined energy future.
