African Energy Chamber plans Feb 22 visit to Venezuela: release

African Energy Chamber plans Feb 22 visit to Venezuela: release

African Energy Chamber to Lead Delegation to Venezuela to Strengthen Oil and Gas Ties

The African Energy Chamber (AEC) will lead a high-level delegation to Venezuela from February 22 to 26, 2026, to advance bilateral energy cooperation between Africa and the Bolivarian Republic of Venezuela. The visit aims to deepen collaboration in oil and gas sectors, leveraging Venezuela's vast hydrocarbon resources and Africa's energy development needs according to the article.

Venezuela, an honorary member of the African Petroleum Producers Association, holds the world's largest proven oil reserves—303 billion barrels, or 17% of global reserves—and contributes nearly 90% of its export revenue from hydrocarbons. Despite a production decline to 300,000 barrels per day in 2020, output has rebounded to 900,000–1.1 million barrels per day in early 2026. Sustained annual investments of approximately $10 billion could elevate production to 2.5 million barrels per day within a decade, according to Venezuelan officials.

During the delegation's visit, AEC Executive Chairman NJ Ayuk emphasized opportunities for African companies to participate in Venezuela's energy resurgence as active partners, rather than passive observers. Discussions with government officials, business leaders, and energy stakeholders will focus on technical cooperation, capacity building, and investment frameworks to foster mutually beneficial trade relations. Ayuk highlighted the importance of "predictable governance and responsible resource management" to unlock Venezuela's potential while aligning with Africa's energy poverty reduction goals as reported.

The engagement builds on prior collaboration, including the AEC's public support for Venezuela's stability amid political transitions, such as Delcy Rodríguez's assumption of Acting President. Rodríguez, a vocal advocate for Africa-Venezuela energy ties, previously urged African nations to strengthen energy sovereignty during Africa Energy Week 2025.

This partnership underscores broader South-South cooperation efforts, aiming to reshape global energy dynamics through shared resource management and sustainable development. By aligning institutional continuity and investment frameworks, both regions seek to enhance energy security and economic empowerment.

The AEC delegation's meetings in Venezuela signal a strategic step toward expanding energy trade and addressing global energy inequities, with implications for investor confidence and regional economic resilience.