Category: Oil & Gas

With a view to providing a lasting solution to the problem of the rise in the price of petroleum products, the Government, through the Ministry of the National Economy, plans to set up, with the GEMCORP Group, a financing facility to guarantee fuel supplies and reduce the cost of the oil subsidy. It was Nicolas Kazadi, Congolese Minister of Finance, acting as Minister of the Economy, who announced it on Friday August 26, 2022, during the weekly meeting of the Council of Ministers. According to Patrick Muyaya, Spokesperson for the… Read More Here

The price of oil is rising again this Wednesday, August 31, 2022 on the international market after having recorded a price drop of nearly 6.46% on August 30, 2022. Very volatile since the beginning of this year, the price of a barrel of Brent or North Sea crude rose to 100.12 USD on the market. It should be noted that Brent, which has become the leading international North Sea oil pricing standard for October delivery, was down 6.46% on Tuesday August 30, 2022 to trade at $98.32, slipping below the… Read More Here

With a view to providing a lasting solution to the problem of the rise in the price of petroleum products, the Government, through the Ministry of the National Economy, plans to set up, with the GEMCORP Group, a financing facility to guarantee fuel supplies and reduce the cost of the oil subsidy. It was Nicolas Kazadi, Congolese Minister of Finance, acting as Minister of the Economy, who announced it on Friday August 26, 2022, during the weekly meeting of the Council of Ministers. According to Patrick Muyaya, Spokesperson for the… Read More Here

After the sale of the oil and gas resources of the Democratic Republic of Congo (DRC) estimated respectively at more than 22 billion barrels of oil and 66 billion normal cubic meters of gas located in Lake Kivu, the Congolese Minister of Hydrocarbons , Didier Budimbu, continues to reassure the various partners on the respect for the environment which should characterize these operations. To this end, Minister Didier Budimbu had a working session with the Director General of the Congolese Institute for the Conservation of Nature (ICCN), on Monday August… Read More Here

The oil and gas blocks offered for sale by the Congolese government were also discussed during the stay of the American Secretary of State in the Democratic Republic of Congo. Despite this project, the head of Congolese diplomacy Christophe Lutundula wanted to reassure his counterpart and public opinion that the DRC is not going to abandon its commitments to be a solution country in the protection of the environment and the fight against climate change. This is how the two parties agreed on the establishment of a working framework that will… Read More Here

Twelve (12) civil society organizations grouped within the “Dynamique POLE” seized the President of the Republic, Félix Tshisekedi about the auction of 27 oil blocks and 3 gas blocks, initiated by the Government.  This civil society platform alerts the Congolese Head of State to the country’s risk of indebtedness given the great probability of a drop in demand for hydrocarbons before the production of crude which, according to their research, will not arrive in 10 to 15 year olds.  During a press briefing, this Thursday, July 28, the Dynamique Pole… Read More Here

The Government of the Democratic Republic of Congo (DRC), through the Ministry of Hydrocarbons, will officially launch, this Thursday, July 28, 2022, the first phase of calls for tenders relating to the allocation to investors of 27 oil and 3 gas blocks located on Lake Kivu. With considerable potential, the crude oil resources of the DRC are estimated at more than 22 billion barrels of oil and 66 billion normal cubic meters of gas located in Lake Kivu. To date, the Democratic Republic of Congo exploits only 4.5% of its… Read More Here

The Head of State of the Democratic Republic of Congo (DRC), Félix Tshisekedi, proceeded, this Thursday July 28, 2022, in Kinshasa, to the official launch of the calls for tenders for the acquisition and the exploitation of 27 blocks oil and 3 gas blocks located in Lake Kivu as selected by the Congolese Government. In his speech, President Félix-Antoine Tshisekedi spoke of the need to eliminate the gap that exists between the natural potential available to the country and the conditions in which the Congolese population lives. To this end,… Read More Here

The demands of Greenpeace and other international NGOs who are campaigning for the cancellation of the Congolese government’s allocation of the right to exploit Hydrocarbons are no more important than the expectations of more than 100 million Congolese who want to see their situation be changed through political action, said Congolese Minister of Hydrocarbons, Didier Budimbu. During a press conference held on Tuesday July 26, 2022, Minister Didier Budimbu denounced “a campaign of sabotage” of the Government’s efforts to mobilize its natural resources in order to improve the living conditions… Read More Here