Oil & Gas - Copperbelt Katanga Mining

Congo’s Gas Master Plan Promises to Expand Export Opportunities and Domestic Development 1

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

Copper Iron & Steel Iron Ore Oil & Gas

2021 the year of records for raw materials: copper at $ 10,000, oil at $ 70, iron at $ 200

May 20, 2021May 20, 2021 admin

When crude futures broke above $ 70 a barrel on Tuesday, it was just the latest milestone in a record year for commodities. From copper to iron ore and oil, prices have recovered significantly in 2021, as the global economy emerges from the depths of the coronavirus pandemic and stimulates demand. The Bloomberg Commodity Spot Index, which tracks a broad basket of commodities, is up 21% since January, putting it on track for the best year since 2016. Copper hit an all-time high this month, exceeding $ 10,000 per tonne. Iron ore… Read More Here

Mining Companies Oil & Gas

Record metal prices put mining companies ahead of oil giants

May 3, 2021May 3, 2021 admin

Major oil producers, who for decades were the biggest earners in the natural resources industry, are being eclipsed by once-smaller mining peers who are making record profits from burning metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that is sending a wave of inflation through the global economy, raising the cost of everything from electrical wires to construction beams. In the corporate world, the top five iron ore mining companies are on track to achieve combined net profits of… Read More Here

Copper International Lithium Oil & Gas

Copper And Lithium Compete For The Title Of ‘New Oil’

April 30, 2021April 30, 2021 admin

Oil remains king of the energy sector, for now, but there’s a conga line of pretenders poised to claim the crown including copper which Goldman Sachs hailed last week as “the new oil”. The reasoning of analysts at the investment bank is that copper will play a key role in the rush to replace vehicles with internal combustion engines with electric vehicles (EVs) as well as being essential in everything else which uses electricity. Whether it’s going too far to award copper the title of commodity king is debatable, but… Read More Here