Oil & Gas - Copperbelt Katanga Mining

Africa-APPO 2022: Didier Budimbu pleads for better support for tenders for 16 oil blocks in the DRC 1

In anticipation of the launch of calls for tenders for the acquisition and exploitation of 16 oil blocks, the data of which are already available, the Congolese Minister of Hydrocarbons, Didier Budimbu, pleaded with his African peers from the Organization of African oil producers for better support for these operations scheduled for July 28 and 29. The Congolese Minister, Didier Budimbu, seized the opportunity of the 8th Conference of African Producing Countries (APPO), to plead for a balance between continuing to work for the protection of the global ecosystem whose… Read More Here

International Oil & Gas

Oil drops as China lockdowns overshadow Russian output risk

May 4, 2022May 4, 2022 admin

Oil fell as lockdowns across China countered looming European Union measures to limit purchases of Russian fuel. West Texas Intermediate settled near $102 on Tuesday after a session marked by low liquidity. Crude has swung within a $15 band in the last three weeks as the market weighs the hit to demand from China’s covid wave against supply concerns stemming from bans on Russian crude. Investors are also bracing for the biggest US rate hike since 2000, which could slow demand. “Crude is trading sideways as we await further details from the… Read More Here

Mining in DRC Energy Oil & Gas

Calls for tenders for the acquisition and exploitation of 16 oil blocks- DRC

May 3, 2022May 3, 2022 admin

The Congolese Minister of Hydrocarbons, Didier Budimbu, announces that he will proceed to calls for tenders for the exploitation of the oil blocks recovered by the Government from July 28 to 29, 2022 in Kinshasa. These operations will take place under the high patronage of the Congolese Head of State, Félix Antoine Tshisekedi, informs the communication service of the Ministry of Hydrocarbons. Through these tenders, the Government intends to get its hands on investors capable of enabling the country to increase its oil exploitation. According to the Minister of Hydrocarbons,… Read More Here

Oil & Gas Mining in DRC Mining Policy

DRC’s Didier Budimbu is mobilizing some investors for the next calls for tenders for oil and gas blocks

May 1, 2022May 1, 2022 arnbethnic

The Minister of Hydrocarbons, Didier Budimbu has been staying in Kuwait since this Thursday, April 28, 2022. In his suite, he is accompanied by the ad interim Director General of the national hydrocarbons company of Congo, Sylvie Ntazambi Bizitu as well as the delegation of the company Surestream of the Ledya group led by its PCA, Claude Bossio wa Bossio. The purpose of this working visit is to discuss with the head of the group Alghanim International general, trading Fouad Alghanim specialized in oil and gas logistics on the various… Read More Here

Mining in DRC Oil & Gas Petroleum

DRC government intends to stop subsidizing large mining companies in particular following the crisis affecting the oil sector

April 11, 2022April 11, 2022 arnbethnic

To contain the crisis that has shaken the oil sector since the start of the Russo-Ukrainian conflict, the government plans to stop subsidizing mining companies in particular. Finance Minister Nicolas Kazadi had expressed to elected officials his fears about the increase in the debt due to oil companies in terms of loss of earnings as part of their work exercise. This subsidy may increase to more than 400 million USD for the current year in order to keep the price of petroleum products stable, while the budget available for these subsidies is… Read More Here

Mining in DRC Oil & Gas Petroleum

The DRC maintains the production of 26,000 barrels per day, the project to launch calls for tenders from 16 oil blocks officially adopted

April 10, 2022April 10, 2022 arnbethnic

The file related to the project to launch calls for tenders on oil blocks open to exploration in the various sedimentary basins of the Democratic Republic of Congo was approved this Friday, April 8 at the 48th meeting of the Council of ministers. This, after its presentation by the Minister of Hydrocarbons Didier Budimbu. He specified that this allocation of hydrocarbon rights aims at the production of the oil resources of the Democratic Republic of Congo with a view to improving State revenue on the one hand and increasing national production… Read More Here

Mining in DRC Oil & Gas

DRC: oil companies offer government strategies to avoid fuel shortages

April 7, 2022April 7, 2022 admin

The Prime Minister, Jean-Michel Sama Lukonde, gathered around him, on Wednesday April 6 at the Hôtel du Gouvernement, the oil operators working in the DRC, the Minister of Hydrocarbons, the Minister of Communication and Media and all the other Ministers who are members of the Government’s ECOFIN commission, to examine the issue of fuel supply with a fine-toothed comb at this time when international trade is disrupted following the Russo-Ukrainian conflict. According to the Minister of Communication and Media, the Government of the Republic has taken the fuel issue head… Read More Here

Mining in DRC Oil & Gas

Nicolas Kazadi: “With the current price increase, oil subsidies could reach 400 million USD this year”

April 5, 2022April 5, 2022 admin

The repercussions of the Russian-Ukrainian crisis are hitting the Hydrocarbons sector hard in the world. Insofar as the Democratic Republic of Congo exports all of its oil, it goes without saying that the fixing of the price per liter at the pump depends on the evolution of the Average Commercial Border Price (PMFC). Thus, the Congolese State has always intervened by means of subsidies to ensure a price structure for petroleum products that preserves the purchasing power of consumers to any extent. In front of the national deputies gathered in… Read More Here