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Category: Oil & Gas

DRC in Talks with Uganda on Using Planned Oil Pipeline for Export 1 Oil & Gas Mining in DRC Petroleum 

DRC in Talks with Uganda on Using Planned Oil Pipeline for Export

Constance
The Democratic Republic of Congo has commenced discussions with neighbouring Uganda for possible use of the East African country’s planned crude oil pipeline to export petroleum, DRC’s hydrocarbons ministry said. Uganda is developing the $3.5bn 1,445km (898-mile) East African Crude Oil Pipeline (EACOP) that will start from oil fields in its Albertine rift basin on its western border with DRC to Tanzania’s Indian Ocean seaport of Tanga. The controversial pipeline is for transporting Uganda’s crude to international markets when it starts production in 2025. The DRC Ministry of Hydrocarbons said in a… Read More Here
TotalEnergies may resume gas project in Mozambique 2 Oil & Gas International 

TotalEnergies may resume gas project in Mozambique

Constance
The conditions have been met to allow TotalEnergies to resume its natural gas exploration project in the country, suspended since 2021, following a major jihadist attack, Mozambican President Filipe Nyusi assured last week. At the end of March 2021, a coordinated attack on the coastal city of Palma forced the French group to suspend a €16.5 billion natural gas development project. Facilities still under construction on the Afungi peninsula were evacuated. “Cooperation and coordination with Total is very good. The working environment is conducive for the company to resume operations at… Read More Here
DRC announces the submission deadlines for the call for tenders for 3 oil blocks 3 Oil & Gas Mining in DRC Mining Supply Tenders 

DRC announces the submission deadlines for the call for tenders for 3 oil blocks

arnbethnic
In a press release dated Wednesday April 19, 2023, the Ministry of Hydrocarbons announced the deadlines for submitting applications for the call for tenders on the 3 oil blocks in the Basin Coastal, as well as those opening the folds of the latter. According to this press release, the different dates related to the end of receipt of applications and the opening of bids are as follows: • NGANZI BLOCK – Deadline for submission: Friday, April 21, 2023; – Opening of bids: Monday, April 24, 2023. • YEMA II BLOCK… Read More Here
DRC's Oil industry yielded a meager USD 364.6 million From 2020 to 2021 4 Mining in DRC Oil & Gas 

DRC’s Oil industry yielded a meager USD 364.6 million From 2020 to 2021

Constance
Counted among the countries of the continent with an oil potential capable of revolutionizing its entire economic sector, the Democratic Republic of Congo (DRC) still does not attract great benefits from this sector. According to the Extractive Industries Transparency Initiative (EITI) report, between 2020 and 2021, the DRC’s oil sector brought in only USD 364.6 million to the public treasury. A modest sum that does not reflect the oil potential of the country estimated at more than 22 billion barrels of oil. The EITI document informs that in 2020, the Congolese… Read More Here
DRC and Angola nearing Agreement with Chevron for oil and gas block 14c 5 Oil & Gas Mining in DRC 

DRC and Angola nearing Agreement with Chevron for oil and gas block 14c

Constance
The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of ​​common interest, considered rich in hydrocarbons.  The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company. The DRC and Angola share Block 14c, an oil perimeter known as of common interest located astride the territorial waters of two countries. The agreement sought in this agreement should allow the… Read More Here
Perenco Oil & Gas Environment Social Governance (ESG) Mining Policy 

Perenco under Investigation for Corruption in African Countries

arnbethnic
The French-British oil and gas company Perenco is the target of several preliminary investigations opened in France for corruption of foreign public officials, particularly in African countries where it operates, according to sources close to the investigation. As part of these procedures, the Parisian offices of the company were searched by investigators from the Central Office for the Fight against Financial and Fiscal Infractions (Oclciff), who are in charge of the investigations, these sources confirmed, corroborating information from Challenges. The sources, however, did not specify the number of investigations opened,… Read More Here
Machine Learning in the Oil and Gas Industry: ML Roles and Applications 6 Oil & Gas Equipment & Technology Technology & Innovation You got to know this 

Machine Learning in the Oil and Gas Industry: ML Roles and Applications

Constance
Machine learning (ML) is a technology that is having a critical impact on the oil and gas industry and is becoming an important technology for industry stakeholders. Here is where it is having an impact today, what ML applications are being used, and what the future holds. What Is Machine Learning? Machine learning is a branch of artificial intelligence (AI) in where computer systems are trained to receive large sets of data and derive a conclusion. This training can come in addition to or instead of manual programming. These intelligent machines… Read More Here
oil Mining in DRC Oil & Gas 

DRC’s Financial authorities collect CDF 69.5B from Oil Revenues as of March 3, 2023

Constance
The oil revenues mobilized by the financial authorities of the Democratic Republic of Congo (DRC), as of March 3, 2023, are estimated at 69.5 billion Congolese Francs CDF, or nearly 34 million USD. This is what the weekly digest of statistical information from the Central Bank of Congo (BCC) provides in its report dated March 8 of the current year. During the period under analysis, the Directorate General of Taxes (DGI) mobilized CDF 13,143.83 billion from oil revenues. In addition, the General Directorate of Administrative, Judicial, State and Participations Revenue… Read More Here
US Company Offers $400M to Prevent Abandonment of 27 DRC Oil Blocks 7 Mining in DRC Oil & Gas 

US Company Offers $400M to Prevent Abandonment of 27 DRC Oil Blocks

Constance
The auction of 27 oil blocks and three gas blocks by the Government of the Democratic Republic of Congo (DRC) continues to be the subject of disputes with several international bodies. Indeed, a financial technology company on biodiversity, based in New York and called “EQX Biome”, has said that it is ready to bet 400 million USD or (334 million pounds sterling) to transform the project of exploitation of 27 oil blocks in forest conservation projects. This information was reported by the British newspaper The Guardian a few weeks ago… Read More Here
OIl Oil & Gas Mining in DRC 

The barrel of Crude Oil traded at 85.5 USD in the last week of February 2023

Constance
In the last week of February 2023, the price of oil recorded a slight increase of 2.3% on a weekly basis. According to statistical data published by the Central Bank of Congo (BCC) in its monthly report on the summary of statistical information, a barrel of crude oil sold at 85.5 USD during this period. On the international market, specialists believe that despite the recent surge in prices, there is little chance that the price per barrel will rise quickly. The price of a barrel of Brent is distributed downwards… Read More Here

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