African national oil companies have signed a non-binding declaration to expand trade in crude oil and refined products, strengthen refining capacity and deepen energy cooperation across the continent. The Cape Town Declaration was signed on October 12 during the 8th Meeting of the African Petroleum Producers’ Organization (APPO) National Oil Companies CEOs Forum at African Energy Week (AEW) 2026 in Cape Town.
The agreement sets out a framework for closer commercial ties between national oil companies, with the aim of strengthening energy security, developing regional markets and attracting investment in energy infrastructure.
The signing was overseen by Godfrey Moagi, CEO of the South African National Petroleum Company (SANPC) and newly appointed chairman of the APPO NOCs CEOs Forum.
Boosting refining and regional trade
The declaration calls for direct commercial agreements between African national oil companies to trade crude oil and refined products, subject to national laws and competition rules. It also commits the signatories to expanding domestic refining capacity to reduce reliance on imported petroleum products.
Greater trade between African producers and refiners could help countries make better use of their oil resources and retain more economic value within the continent. However, the declaration does not itself establish new supply contracts or guarantee additional refining capacity. Those outcomes will depend on investment and follow-through by the participating companies.
The signatories also welcomed steps toward implementing the Africa Energy Bank, which is intended to help finance major energy projects. Other areas for cooperation include exploration and production, refining, marketing, workforce training and technology.
The declaration also highlights digital tools, skills development and local content. Proposed initiatives include secure platforms for sharing industry data, joint research and greater opportunities for professionals to work across national oil companies and training institutions.
Central African companies join the initiative
The signatories include GEPetrol and SONAGAS GE of Equatorial Guinea, Cameroon’s Société Nationale des Hydrocarbures (SNH) and the Democratic Republic of the Congo’s SONAHYDROC. Other participants represent Ghana, South Africa, Algeria, Angola, Benin and Côte d’Ivoire.
Their participation highlights the potential for closer links between oil-producing countries and regional fuel markets. For Central African producers, stronger commercial ties could create opportunities to expand trade, improve access to refined products and support investment in domestic energy infrastructure.
Signed at AEW 2026, the declaration gives participating companies a shared framework for pursuing these goals. Its impact will depend on whether they turn the commitments into commercial agreements, investment decisions and projects. The next APPO NOCs CEOs Forum meeting is scheduled for 2027, with the venue and arrangements to be determined by member companies.
