Oil & Gas - Copperbelt Katanga Mining

Expo Dubai 2020: Didier Budimbu touts DRC oil reserves estimated at 22 billion barrels 1

The Minister of Hydrocarbons of the Democratic Republic of Congo, Didier Budimbu, presented investment opportunities in the Hydrocarbons sector, highlighting the country’s oil reserves estimated at 22 billion barrels. Present at the Business Forum with the employers of the United Arab Emirates at the Dubai Chamber of Commerce, the Minister of Hydrocarbons, Didier Budimbu, praised, on Monday March 21, 2022, the projects and opportunities to invest in the DRC in this promising sector. He informed investors in the United Arab Emirates that the DRC is full of enormous potential in… Read More Here

Mining in DRC Oil & Gas

DRC: It is unacceptable that Gertler is treated as a savior when he is sanctioned abroad

March 21, 2022March 21, 2022 admin

The DRC has definitively recovered its titles, licenses and mining and oil permits from Dan Gertler’s Ventora Group. The whole having a value of more than 2 billion USD. Brian Nelson, the US Treasury Department’s undersecretary for terrorism and financial intelligence, is in Kinshasa. He discussed with the Congolese authorities as well as with civil society actors. Jean-Claude MPUTU, spokesperson for CNPAV, was also received. He is a guest of Transparency. – After the agreement signed between the government and Dan Gertler, if you have a request to make regarding Felix Tshisekedi. What would it be?… Read More Here

Mining in DRC Oil & Gas

DRC: Dan Gertler should not benefit from any financial advantage, insists the USA

March 21, 2022March 21, 2022 admin

The DRC has definitively recovered its titles, licenses and mining and oil permits from Dan Gertler’s Ventora Group. The whole having a value of more than 2 billion USD. Brian Nelson, the US Treasury Department’s undersecretary for terrorism and financial intelligence, is in Kinshasa. He discussed with the Congolese authorities as well as with civil society actors. Transparence, the web show of ACTUALITE.CD receives, Floribert Anzuluni, Senior DRC Adviser” for the American organization The Sentry. He answers a series of questions: -Why was it important to meet with Brian Nelson, US Treasury… Read More Here

Energy Oil & Gas

Namibia’s new era of hydrocarbon exploration and production

March 8, 2022March 8, 2022 admin

As Namibia’s second important discovery in recent weeks, Namibia’s oil and gas industry is set to create an influx of new investment, and local content opportunities for the country. The African Energy Chamber (EnergyChamber.org) sat with Ian Cloke, COO Afentra to discuss the enormous potential of what could engineer Namibia’s new era of hydrocarbon exploration and production for the country. How will Namibia’s growing oil and gas sector transform the country’s economy? Oil and gas development, depending on the scale, can lead to a transformation of a country’s economy; delivering high skilled… Read More Here

Coal International Oil & Gas

55% dependent on Russian gas, Germany opposes the ban on imports of gas, oil and coal from Putin’s country

March 7, 2022March 7, 2022 admin

The Federal Republic of Germany opposes the ban on imports of gas, oil and coal from Russia. It was the German Ministers of Finance and Foreign Affairs who expressed this position of the German Government in response to European sanctions against Russia. For Germany, the ban on importing gas, oil and coal from Russia would threaten the social peace of the country. “We must be able to hold the sanctions over time,” explained the Head of German diplomacy, Annalena Baerbock, to the ARD channel. And to add: “It is useless… Read More Here

International Oil & Gas

Can African gas replace Russian supplies to Europe?

March 4, 2022March 4, 2022 admin

On February 22, German Chancellor Olaf Scholz announced during a news conference that the European superpower was halting approval of Russia-owned Nord Stream 2 after President Vladimir Putin officially sent troops into eastern Ukraine. An $11bn gas pipeline project owned by Moscow-backed energy company Gazprom, runs from western Siberia to Germany. The project was built to ensure a sustainable energy distribution across the European Union, especially as gas prices reached record highs in Europe – which gets more than a third of its natural gas from Russia. As the conflict continues in… Read More Here

Oil & Gas

Higher prices, budget strains to hit Africa from war in Ukraine

March 4, 2022March 4, 2022 admin

Russia’s invasion of Ukraine is likely to hurt Africa’s coronavirus-ravaged and fragile economies through fiscal constraints, weaker investment flows and higher commodity costs. The most pronounced challenge will be the surge in prices, particularly of oil and wheat, as these will have implications for inflation, current-account and budget balances, said Yvonne Mhango, Renaissance Capital’s head of research for the continent. Crude has surged by more than a fifth since the start of the war to a 2008 high of almost $120. Wheat prices extended their meteoric rally, soaring 50% in the past… Read More Here

Mining in DRC Oil & Gas

André Wameso: “with the Ventora agreement, oil blocks and mining assets valued at more than 2 billion dollars need to be recovered- DRC

March 4, 2022March 4, 2022 admin5 Comments

The Democratic Republic of Congo will imperatively have recovered oil blocks and mining assets valued at more than 2 billion dollars from the Ventora group of the Israeli businessman Dan Gertler. This was indicated by André Wameso, Vice-President of the Commission which negotiated the Ventora agreement. It was during the press conference organized on Thursday March 3, 2022 by the Minister of Communication and Media, Patrick Muyaya, accompanied by his colleague from Justice, Rose Mutombo. According to André Wameso, this historic agreement signed on Thursday, February 24, 2022 between Kinshasa and… Read More Here

Mining in DRC Oil & Gas

DRC: Ukrainian crisis and rise in crude oil prices, the Govt plans to take urgent measures to deal with this situation

March 3, 2022March 3, 2022 admin1 Comment

The Government of the Democratic Republic of Congo (DRC) is very attentive to the progress of Russian military operations in Ukraine and their effects on the world economy. During the traditional weekly meeting of the Economic Situation Committee (CCE) held on Wednesday March 2, 2022, the sectoral Ministers around the Prime Minister, Jean-Michel Sama Lukonde, counted on the economic situation both nationally and internationally. international in the period from February 9 to 28, 2022. At the national level, the Economic Conjuncture Committee notes that the impact of the rise in… Read More Here

International Energy Oil & Gas

World: War in Ukraine,barrel of oil goes from 104 to 113.02 USD in one week on the international market

March 3, 2022March 3, 2022 admin

The consequences of Russian military operations in Ukraine are likely to be disastrous for the global economy. On the sixth day of the war in Ukraine, crude oil prices continued to soar on the international market. The West Texas Intermediate (WTI), also called Texas Light Sweet which is a variation of crude oil serving as a standard in the fixing of the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange ), the stock market specializing in energy, rose on… Read More Here