Oil & Gas - Copperbelt Katanga Mining

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

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

Oil & Gas International

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