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Category: Oil & Gas

Moanda Urges Socir Revival for Local Oil Refining in DRC 1 Mining in DRC Oil & Gas 

Moanda Urges Socir Revival for Local Oil Refining in DRC

Constance
Voices in Moanda, situated on the Atlantic coast of the DRC, are increasingly advocating for the revival of the Congolese Society of Refining Industries (Socir), which ceased oil refinery activities in 1999, according to local sources. Following a meeting attended by civil society, local officials, and Perenco, a Franco-British oil company, alongside Minister of Hydrocarbons Aimé Molendo Sakombi on Monday, Marcel Matumpa Buka, a national deputy for the region, publicly urged for Socir’s operations to resume and proposed the establishment of a national oil exploitation company. “We urge the government,… Read More Here
DRC Minister of Hydrocarbons Visits SOCIR to Revitalize National Refining Activities 2 Mining in DRC Oil & Gas 

DRC Minister of Hydrocarbons Visits SOCIR to Revitalize National Refining Activities

Constance
On Saturday, July 6, the Congolese Society of Refining Industries (SOCIR) in Moanda, located on the Atlantic coast at the mouth of the Congo River, welcomed Aimé Molendo Sakombi, the Congolese Minister of Hydrocarbons. This visit marked his inaugural tour to engage with stakeholders in the oil sector of Kongo-central province. Since 1999, SOCIR has operated solely as a storage and distribution facility for imported petroleum products, despite its initial mandate to refine national crude oil, revealed an anonymous company executive on site. “We believe the minister’s visit can expedite… Read More Here
DRC Advances Gulf of Kabuno Gas Degassing Project to Enhance Regional Safety 3 Mining in DRC Oil & Gas 

DRC Advances Gulf of Kabuno Gas Degassing Project to Enhance Regional Safety

Constance
During the 3rd Council of Ministers meeting on Friday, June 28, 2024, at the Cité de l’Union Africaine, Minister of Hydrocarbons Aimé Molendo Sakombi presented an update on the Gulf of Kabuno degassing project. He reported that the industrial phase has commenced with the installation of three Industrial Stations, marking significant progress towards mitigating the risk of gas explosions in North Kivu and South Kivu. Minister Sakombi noted that the first Industrial Station was successfully installed, with provisional acceptance on September 12, 2023. However, he highlighted two key challenges: delayed… Read More Here
President Bassirou Diomaye Faye Celebrates Senegal's First Oil Production 4 International Oil & Gas Petroleum 

President Bassirou Diomaye Faye Celebrates Senegal’s First Oil Production

Constance
President Bassirou Diomaye Faye witnessed the production of Senegal’s first barrels of oil on the Sangomar platform, marking a historic milestone for the country in the global and African oil industries. Addressing the press, President Faye commended the dedication and efforts of those who believed in the potential of Senegal’s sedimentary basin and worked towards its development. He expressed immense pride in the young Senegalese professionals showcasing their expertise on the platform. “I reiterate my commitment and that of the government to the transparent and equitable management of our natural… Read More Here
Namibia Emerges as a New Frontier for Oil Production in Southern Africa 5 Oil & Gas International Petroleum 

Namibia Emerges as a New Frontier for Oil Production in Southern Africa

Constance
While most oil-producing African nations are located in the Western, Northern, and Central regions of the continent, the Southern and Eastern parts have largely been devoid of this valuable resource. Except for Angola, no Southern African nation has contributed significantly to the global oil market. However, recent discoveries suggest a potential shift, with Namibia poised to become a key player. A report by Reuters revealed that major oil conglomerates have been actively exploring Namibia’s oil potential in recent years. In 2023, the National Petroleum Company of Namibia (NAMCOR) announced the… Read More Here
US Supports Angola's Transition to Clean Energy and Critical Minerals 6 International Battery Metals Oil & Gas 

US Supports Angola’s Transition to Clean Energy and Critical Minerals

Constance
The United States is backing Angola’s shift away from its oil-dominated economy towards becoming a major processor and exporter of critical minerals and clean energy, a senior official confirmed. Geoffrey Pyatt, US Assistant Secretary of State for Energy Resources, highlighted the alignment between Angola and the US on energy access, security, decarbonization, and critical minerals during an online media briefing on Tuesday. Angola, a significant crude oil producer in Africa, has emerged as a strategic focus for the US in its efforts to secure critical minerals like copper, amid competition… Read More Here
Zambia Announces Stability in Fuel Supply and Progress on TAZAMA Pipeline Open Access Regime 7 Mining in Zambia Oil & Gas Petroleum 

Zambia Announces Stability in Fuel Supply and Progress on TAZAMA Pipeline Open Access Regime

Constance
Energy Permanent Secretary, Mr. Peter Mumba has provided key updates on the fuel situation in Zambia during a press briefing, emphasizing the country’s ample petroleum and diesel stocks, and urging the public to remain calm. Mr. Mumba highlighted the government’s ongoing efforts to implement an open access regime for the TAZAMA pipeline through a competitive bidding process, which is currently at the award stage.  He noted the importance of this development, particularly as 100% of petroleum products are delivered by road, while 80% of diesel is transported through the TAZAMA… Read More Here
ERB Suspends Exxon Petroleum Energy’s License Over Fraud Allegations 8 Mining in Zambia Oil & Gas Petroleum 

ERB Suspends Exxon Petroleum Energy’s License Over Fraud Allegations

Constance
The Energy Regulation Board (ERB) has suspended the operating license of Exxon Petroleum Energy Limited due to alleged fraudulent practices. The company, owned by Dr. Kafula Mubanga, President of the Oil Marketing Association of Zambia (OMCAZ), faces numerous lawsuits from various companies for failing to supply fuel. Recently, Judge Chilombo Maka ordered Dr. Mubanga to pay Luapula Energy Limited K3,506,195.90 for 52 tankers of petroleum products obtained on credit. Exxon Petroleum Energy Limited failed to clear the outstanding debt and did not defend itself in court. Attempts to recover the… Read More Here
CTPD Urges Zambia to Develop Comprehensive Oil Exploration and Production Policy 9 Mining in Zambia Exploration Oil & Gas 

CTPD Urges Zambia to Develop Comprehensive Oil Exploration and Production Policy

Constance
The Centre for Trade Policy and Development (CTPD) has called on the Zambian government to urgently develop an Oil Exploration and Production (E&P) Policy to attract significant investment in the oil and gas sector. Since the enactment of the Petroleum (Exploration and Production) Act in 2008, Zambia has faced challenges in attracting substantial investment in oil and gas exploration. Despite the country’s potential, geological risks and a lack of funding commitments have hindered progress. Dr. Stephen Kambani, Associate Researcher for Extractives at CTPD, noted that Zambia has conducted three licensing… Read More Here
Perenco's Subsidiary Discovers New Oil Reserve in DRC Coastal Basin 10 Mining in DRC Oil & Gas Petroleum 

Perenco’s Subsidiary Discovers New Oil Reserve in DRC Coastal Basin

Constance
In 2024, Perenco’s subsidiary achieved a significant milestone by drilling two exploration wells and discovering an oil reserve in the Moke-East well, situated between the Lukami and Motoba fields in the Democratic Republic of the Congo (DRC) coastal basin. The drilling operations were conducted using the Nuada, a self-elevating class 82 SD-C jack-up drilling rig owned by Dixstone. The well, expected to be completed in the coming weeks, encountered a 24-foot net oil-bearing column, and the discovery will undergo further testing. Frédéric Kiepferle, Perenco’s DRC General Manager, remarked: “Perenco’s offshore… Read More Here

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