Oil & Gas - Copperbelt Katanga Mining

No Shortage of Gasoline or Diesel will be Observed in Kinshasa, Reassures Didier Budimbu 1

The Minister of Hydrocarbons of the Democratic Republic of Congo (DRC), Didier Budimbu, indicated that no shortage of gasoline or diesel will be recorded in the city of Kinshasa. According to the communication service of the Ministry of Hydrocarbons, there is a slowdown in the rise of gas-oil barges for Ango Ango following the work of the Compagnie des Voies Maritimes (CVM) on the Congo River. “The Ministry of Hydrocarbons reassures the population of Kinshasa that no shortage of petrol or diesel is on the horizon. However, there is a slowdown… Read More Here

Oil & Gas Mining in DRC

DRC Produces Over 8.4 Million Barrels of Crude Oil in 2022

February 3, 2023February 3, 2023 Constance

Between two calendar years, oil production remained linear in the Democratic Republic of Congo (DRC). According to the compendium of statistical information from the Central Bank of Congo (BCC), the oil industries of the Democratic Republic of Congo produced only 8.4 million barrels of crude oil. This production is stagnant compared to the year 2021 when the same source informs that the oil industries had produced the same volume of barrels of crude oil. It should be noted that this production is still very low compared to the level of… Read More Here

Copper Battery Metals International Oil & Gas

Glencore’s 2022 Output of Cobalt, Oil, Nickel, and Ferrochrome Rises

February 3, 2023February 3, 2023 Constance

Mining and marketing company Glencore produced 40% more cobalt last year, along with 16% more oil, 5% more nickel and 1% more ferrochrome. Although coal production of 110-million tonnes was 6.7-million tonnes higher, on a like-for-like basis, overall group coal production fell by 7%, primarily owing to wet weather challenges and an extended community blockade in Colombia, where Glencore now owns 100% of Cerrejón. Following the restart of the Mutanda mine in the Democratic Republic of Congo (DRC), the London- and Johannesburg-listed company last year produced 43 800 t of cobalt, 12 500 t more… Read More Here

Oil & Gas Mining in DRC

Climate Advocates Urge Pope to End Oil and Gas Development in DRC

February 1, 2023February 1, 2023 Constance

Climate activists are urging a halt to oil and gas exploration in the Democratic Republic of Congo and seeking the Pope’s support during his visit to the country. They are opposing activities in Virunga National Park, Africa’s oldest park, as well as government plans to auction oil blocks in sensitive areas. The activists believe that oil exploration poses serious risks to the environment, wildlife, and local communities. Pope Francis, who is known for advocating for environmental justice and calling for a transition to renewable energy, is on a four-day visit… Read More Here

Mining in DRC Oil & Gas

Didier Budimbu extends the deadline for submitting applications for the 27 oil blocks from April to October 2023

January 30, 2023January 30, 2023 arnbethnic

The application deadline for the 27 oil blocks is extended from April to October 2023, depending on the blocks. This postponement will allow the companies to continue the various technical evaluations essential to the assessment of the offers, reports a press release from the Ministry of Hydrocarbons Resources signed by Minister Didier Budimbu himself. Read More Here

Oil & Gas International

Eni CEO proposes increasing African gas imports for Italy

January 25, 2023January 25, 2023 Constance

Italy can significantly increase its gas imports from Africa and transfer some of the supply to northern Europe if it boosts its infrastructure in the next few years, the CEO of energy group Eni ENI.MI Claudio Descalzi told several Italian papers. Speaking from Algiers where he travelled with Italy’s Prime Minister Giorgia Meloni, Descalzi said that Rome could already count on many connections with Africa including the TransMed pipeline linking Algeria to Sicily. “We are the only ones to have a connection with Algeria… which has a capacity of about… Read More Here

Oil & Gas International

Uganda Set To Join The List Of Major Oil Producing African Countries

January 25, 2023January 25, 2023 Constance

Uganda is set to commission its first commercial oil production drilling program. The East African country has been keen on fast tracking its oil programs since last year, and has signed a couple of deals to this effect. Last year, Uganda and its collaborators, Total Energies and Tanzania got into an altercation with the European Union on a pipeline project, which the EU declared environmentally harmful. Despite this, the country insisted on going ahead with its oil exploration. As recently as this month, the country signed production-sharing agreements (PSA) for… Read More Here

Oil & Gas International

Uganda Approves Building Of Contentious Oil Pipeline With The Issuance Of A Permit.

January 23, 2023January 23, 2023 Constance

Uganda has issued the license for the construction of an oil pipeline crossing the country and Tanzania, intended to transport hydrocarbons from East Africa to international markets, and which has aroused the fury of environmental activists. “The approval (of the license) is another sign to demonstrate the joint commitment of the two countries to develop the EACOP project in a harmonized manner,” Ugandan Information Minister Godfrey Kabbyanga said on Friday 18.01.2023 The license was awarded to the East African Crude Oil Pipeline Company Ltd (EACOP) consortium, 62% owned by the… Read More Here

Oil & Gas International

Ethiopia Discovers New Oil Deposits

January 23, 2023January 23, 2023 Constance

Ethiopia has announced the discovery of new oil deposits that could have a significant impact on the economy of the nation. The Minister of Mines and Petroleum, Tekele Uma Banti, confirmed on Wednesday, January 18, 2023 that exploration of the deposits will begin immediately. As a landlocked nation, Ethiopia currently relies on oil imports from the Middle East and other parts of Africa. A study conducted in Warra Iluu within the Abay Basin revealed that the country has more than 2 billion barrels of crude oil, which could reduce dependence… Read More Here

Oil & Gas Energy International

Global oil demand would be higher around 101.7 million b/d in 2023, according to the IEA

January 22, 2023January 22, 2023 arnbethnic

The International Energy Agency (IEA) forecasts a significant increase in global oil demand during the year 2023. Indeed, the demand is expected to be around 101.7 million bpd, up 1.9 million bpd compared to previous estimates provided by the Agency. According to an Agency report on the oil market published on Wednesday, January 18, 2023, “this improvement is, in large part, directly linked to the recent relaxation of zero Covid measures in China which has led to a significant increase in the energy consumption and demand.” As far as supply… Read More Here