Oil & Gas - Copperbelt Katanga Mining

Allocation of 16 oil and gas blocks from the DRC, Egypt expresses its interest 1

The opportunities related to the allocation of oil and gas blocks in the Democratic Republic of Congo (DRC) were the subject of discussions between the Congolese Minister of Hydrocarbons, Didier Budimbu, and the Egyptian Prime Minister, Moustapha Madbouli. It was on the sidelines of the 7th edition of the AFFCA in Cairo, Egypt. Their discussions indeed focused on the opportunities represented by the allocation of oil and gas blocks not only for the DRC but also for the African continent as a whole. Egypt, already present in the DRC through several… Read More Here

Mining in DRC Oil & Gas

Didier Budimbu discusses with oil companies the need to set up a strategic reserve

June 17, 2022June 17, 2022 admin

The scarcity of petroleum products in the Democratic Republic of Congo (DRC) remains a topical issue that is of great concern to the country’s authorities. To this end, the Minister of Hydrocarbons, Didier Budimbu, organized an emergency meeting on Thursday, June 16, 2022 to inquire about the situation of the marketing and storage of fuels within oil companies. The heads of oil companies were invited to discuss the issue of the scarcity of oil products in the various service stations in Kinshasa while the products are available in the country.… Read More Here

International Oil & Gas

EU Turns to Egypt in the Rush to Replace Russian Gas

June 17, 2022June 17, 2022 admin

The European Commission has proposed a deal to accelerate natural gas imports from Egypt in a bid to reduce its reliance on Russian gas. With Egypt ramping up efforts to become a major liquefied natural gas (LNG) player through increased exploration, production and infrastructure build up and modernization, the north African country is well positioned to expand energy exports to Europe while addressing African energy demand. Egypt’s Emerging Gas Economy Owing to its strategic location in close proximity to European markets as well as its success as a gas exporter,… Read More Here

Mining in DRC Oil & Gas

Congo’s Oil Block Sale Threatens Carbon Sinks, Forest Pact

June 9, 2022June 9, 2022 admin

The Democratic Republic of Congo’s plan to auction oil exploration blocks next month threatens to disrupt some of the world’s most important carbon sinks and could jeopardize a $500 million forest preservation agreement. Some of the blocks, estimated to contain 16 billion barrels of crude reserves, overlap with the biggest tropical peatlands that cover 145,000 square kilometers (56,000 square miles) and store about 30 billion tons of carbon — equivalent to about 82% of annual global carbon dioxide emissions. So-called carbon sinks help mitigate greenhouse-gas emissions from burning fossil fuels and… Read More Here

Oil & Gas International

Glencore’s oil-price rigging puts spotlight back on benchmarks

May 27, 2022May 27, 2022 admin

Glencore’s settlement with US prosecutors has cast fresh light on manipulation of an under-the-radar part of the commodities world that’s crucial for valuing physical deals and derivatives. The raw-materials giant this week agreed to plead guilty to rigging fuel-oil assessment prices after probes into wide-ranging bribery and corruption. The process for setting the benchmarks involves price reporters polling traders in the market for bids, offers and transactions so that they can publish values on products that otherwise would remain private information. It’s a hugely important part of the industry. Billions… Read More Here

Mining in DRC Mining in Zambia Oil & Gas

Auction on DRC oil blocks: Budimbu wants to forge an agreement with Zambia to facilitate operations

May 23, 2022May 23, 2022 admin

The report on the official submission of data from the Tanganyika graben and the central basin as well as the valuation of methane gas from Lake Kivu was on the agenda of the 54th meeting of the Council of Ministers. This, with a view to the official launch of calls for tenders relating to the 16 oil blocks from July 28 to 29 of the current year. From the outset, the Minister of Hydrocarbons, Didier Budimbu, began his presentation by reminding the council that on Saturday May 14, 2022, the Prime… Read More Here

Mining in Zambia Oil & Gas

Zambia and Namibian Govt to sign MOU for gas, oil pipeline construction

May 19, 2022May 19, 2022 admin

The Zambian and Namibian governments are next month expected to sign a Memorandum of Understanding for the construction of a Gas and Oil pipeline from Windhoek into Lusaka. Energy Minister Peter Kapala disclosed this when he paid a courtesy call on Siavonga District Commissioner Geoffrey Jakopo at his office. Mr.Kapala said the oil pipeline will help reduce the cost of petroleum products in the country. He disclosed that the project, which is expected to take three to four years to be complete, will have its main gas and oil power… Read More Here

Mining in DRC Mining Supply Tenders Oil & Gas

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

May 17, 2022May 17, 2022 admin

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