A new report by the African Energy Chamber (AEC) and the Venezuelan Ministry of Hydrocarbons has established a 12-month joint work plan to formalize South-South energy cooperation, aiming to accelerate upstream rehabilitation and gas commercialization through cross-continental investment and technical exchange. By aligning the two regions on regulatory reform and capital mobilization, the partnership intends to utilize oil and gas as primary catalysts for industrialization and the eradication of energy poverty across the Global South. This strategic shift, advanced during a high-level working visit to Caracas this week, marks a transition from transactional diplomacy toward a structured institutional framework that links Africa’s frontier basins with Venezuela’s decades of operational experience in complex hydrocarbon environments.
The economic logic of the partnership centers on the shared reality that hydrocarbons remain essential drivers for electrification and downstream industrial growth. During meetings with the Bolivarian Republic of Venezuela’s Vice Minister for Africa, Yuri Pimentel, and Deputy Minister of Hydrocarbon Geopolitics, Eduardo Antonio Ramirez Castro, officials from both sides emphasized that natural gas and petrochemicals represent the next phase of value creation. For African producers, particularly those in emerging gas hubs like Senegal and Mozambique, Venezuela’s established petrochemical infrastructure offers a model for domestic value addition. According to the AEC, the 12-month work plan includes specific provisions for refining rehabilitation and gas monetization, signaling an intent to build resilient domestic industries rather than remaining simple exporters of raw crude.
A cornerstone of the agreement is the development of human capital through structured training pathways. In discussions with the Universidad Venezolana de los Hidrocarburos, the AEC secured commitments for the technical training of African professionals and executives, with initial programs targeting stakeholders from Namibia, Equatorial Guinea, Nigeria, Zimbabwe, and Senegal. Venezuela’s historical expertise in heavy-oil production and offshore development is being leveraged as a case study for African nations seeking to develop their own unconventional or offshore reserves. By prioritizing technical depth and regulatory expertise, the partnership aims to reinforce local content objectives, ensuring that resource development is matched by a workforce capable of managing complex operations without over-reliance on external contractors.
The collaboration also addresses the practical bottlenecks that have historically constrained trade between Africa and Latin America. Leading discussions with Coromoto Godoy Calderón, Venezuela’s Minister of Foreign Trade, the delegation explored strategies to remove transactional barriers and align with the African Continental Free Trade Area (AfCFTA). This broader trade perspective suggests that the energy partnership is intended to act as a gateway for manufactured goods and services, facilitating reciprocal investment in non-energy sectors. For African economies, this diversification of investment partners provides a strategic buffer against the shifting policy priorities of traditional Western capital markets.
The signing of a formal Memorandum of Understanding (MoU) and the announcement of a flagship “Venezuela International Oil and Gas Week” in Caracas further solidify the institutional nature of this alignment. As African national oil companies seek capital and expertise beyond traditional North-South channels, this Global South alliance reflects a pragmatism rooted in shared developmental goals. The long-term implication for Africa is the potential for a more competitive and self-reliant energy sector, one where technical exchange and industrial policy are integrated to ensure that resource wealth translates into tangible economic sovereignty and infrastructure development across the continent.
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