Oil & Gas - Copperbelt Katanga Mining

World: against the backdrop of tensions between Russians and Ukrainians, the barrel of crude oil climbs to 104.80 USD on the international market

February 25, 2022February 25, 2022 admin

The price of crude oil has gained momentum on the international market, in a context marked by rising tensions between Ukraine and Russia. The barrel, the brent (type of crude oil used as a standard in the fixing of the price) of crude oil, exceeded the symbolic bar of 100 USD to settle at 104.80 USD on February 24, 2022. A record that it you have to look back 8 years, in 2014. In this year 2014, in a context of imposition and tightening of international sanctions against Tehran and… Read More Here

Mining in DRC Mining tax Oil & Gas Taxes

DRC: nearly USD 5.8 billion collected in taxes, duties, fees and royalties from mining and oil companies between 2018 and 2019

January 28, 2022January 28, 2022 admin

Between 2018 and 2019, mining and oil companies operating in the Democratic Republic of Congo (DRC) paid the public treasury in taxes, duties, fees and royalties, a total amount estimated at 5,849,113,365.66 billion. U.S. dollars. This is what the statistical yearbook of the Democratic Republic of Congo reports in its publication for the year 2020. According to this report, during this period under analysis, mining companies paid the Congolese State a sum of 5,456,810,153.31 billion US dollars, i.e. 2.9 billion USD paid in 2018 and 2.4 billion USD in 2019.… Read More Here

Petroleum International Oil & Gas

Nigeria’s Ministry of Petroleum Resources Signs Partnership with African Energy

January 27, 2022January 28, 2022 admin

Nigeria’s Ministry of Petroleum Resources has fully endorsed African Energy Week (AEW) 2022, partnering with the AEC for the second edition of Africa’s premier energy event. Taking place in Cape Town on the 18th -21st of October, AEW 2022 extends on the narrative of making energy poverty history by 2030, uniting energy leaders, global financiers, and both public and private sector executives for a week of intense dialogue on Africa’s energy future. Having partnered with one of Africa’s energy sector heavyweights, the event is well positioned to lead Africa into… Read More Here

Energy Oil & Gas

Congo’s Gas Master Plan Promises to Expand Export Opportunities and Domestic Development

January 27, 2022January 27, 2022 admin

In a bid to optimize the country’s gas potential and revitalize its hydrocarbons sector, the Congo has put together and launched, at the end of 2021, a plan to put its estimated 10 trillion cubic feet of natural gas reserves to good use. The new Gas Master Plan (GMP) is designed to promote gas utilization and attract foreign direct investment, while reducing its dependency on oil revenues and expanding the country’s power grid. Developed by the Ministry of Hydrocarbons and Wood Mackenzie, guided by Société Nationale des Pétroles du Congo… Read More Here

Mining in DRC Oil & Gas

DRC: Didier Budimbu announces the launch of a call for tenders in January 2022 to award the oil blocks

November 15, 2021November 16, 2021 admin

A call for tenders for the allocation of oil blocks in the Democratic Republic of the Congo will be launched in January 2022, through the Ministry of Hydrocarbons. The announcement was made on Wednesday November 10, 2021 by Didier Budimbu, Minister of Hydrocarbons in the DRC, from Dubai in the United Arab Emirates where he is taking part in the 27th edition of Africa Oil Week. According to him, the Democratic Republic of Congo is full of many opportunities likely to boost the global economy and so far, the country… Read More Here

Mining in DRC Oil & Gas

Didier Budimbu promises to support oil companies ready to invest in this sector- DRC

November 12, 2021November 12, 2021 admin

The Minister of Hydrocarbons, Me Didier Budimbu, took part from November 10 to 11, 2021 in the 27th edition of Africa Oil Week held in Dubai in the United Arab Emirates. The day before the end of this meeting which brought together oil operators in particular, Didier Budimbu presented to Madinat Jumeirah (part of this meeting) the investment opportunities offered by the Democratic Republic of the Congo in the oil sector. . Didier Budimbu took this opportunity to announce to oil and gas investors that he is ready to support… Read More Here

Mining in DRC Oil & Gas Petroleum

Ituri: Oil importers threaten to close their gas stations, due to high tax from the DRC’s hydrocarbons division

October 25, 2021October 25, 2021 arnbethnic

Importers of petroleum products in Ituri are protesting against a tax estimated at 175,000 US dollars per oil importer from Ituri. This is revealed by the content of a joint letter, signed on October 19, 2021 by Daniel Mugisa, provincial president of importers of petroleum products and Arsène Lombu, interim president of the provincial council of the FEC Ituri representing his incapacitated leader addressed to the national minister of hydrocarbons after their meeting held on Monday, October 18, 2021 at Gold Stars Hotel. These importers of fuel and its substitutes are… Read More Here

Oil & Gas

Angola’s modest oil output goal reveals a truth on global supply

September 10, 2021September 10, 2021 admin

Want proof of how hard it is for some oil-producing countries to lift supply? Look no further than the west African nation of Angola. State Secretary for Petroleum and Gas Jose Barroso said Thursday that the country aims to keep production above 1.1-million barrels a day in the coming years. As ambitions go it’s a very modest one: in 2007, when Angola joined the Organization of Petroleum Exporting Countries, it was pursuing a production target of 2-million barrels a day. It highlights a schism within OPEC+, the alliance of global producers who… Read More Here

Mining in DRC Oil & Gas

NGO’S call on govt to proceed with transparent call for tenders of oil blocks taken over by Dan Gertler- DRC

June 24, 2021June 24, 2021 admin

Congolese economic news remains marked by the expiration of research permits for blocks 1 and 2 of the Graben Albertine, which had been granted in 2011 in an opaque manner, according to civil society, to companies affiliated with Dan Gertler. The letter from Didier Budimbu, Ministry of Hydrocarbons, is clear: the end of the production sharing contract has been noted. The party Dan Gertler was even asked to transmit to the Congolese government all the exploration results made on the two blocks. It is also the result of advocacy led by civil… Read More Here

Mining in DRC Oil & Gas

DRC-Oil: operating permits granted to companies linked to Dan Gertler declared expired and invalid

June 21, 2021June 21, 2021 admin

Didier Budimbu, Congolese Minister of Hydrocarbons, in a correspondence dated June 16, announced that the permits to operate oil zones granted in 2010 to two companies linked to Dan Gertler for blocks 1 and 2 have expired. This important oil field is located on the Congolese part of Lake Albert, near the border with Uganda. These areas contain, according to expert estimates, more than a billion barrels of oil. The decision of the Congolese authorities comes when production has not yet started. The Minister asks these companies to transfer all technical data… Read More Here