Oil & Gas - Copperbelt Katanga Mining

Zambia Announces Stability in Fuel Supply and Progress on TAZAMA Pipeline Open Access Regime 1

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

Mining in Zambia Oil & Gas Petroleum

ERB Suspends Exxon Petroleum Energy’s License Over Fraud Allegations

June 7, 2024June 7, 2024 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

Mining in Zambia Exploration Oil & Gas

CTPD Urges Zambia to Develop Comprehensive Oil Exploration and Production Policy

June 6, 2024June 6, 2024 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

Mining in DRC Oil & Gas Petroleum

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

May 27, 2024May 27, 2024 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

Mining in DRC Oil & Gas Petroleum

PetroAngola Advocates Angolan Businesses in Angola-DRC Common Interest Zone

April 29, 2024April 29, 2024 Constance

PetroAngola, under the leadership of Chairman Patrício Quingongo, is urging Angolan entrepreneurs to explore the potential business opportunities emerging from the Zone of Common Interest (ZIC) between Angola and the Democratic Republic of Congo (DRC). Quingongo believes that this initiative presents a unique chance for Angolan companies to spearhead significant segments of the oil market in the DRC. With a keen understanding of the Democratic Congo market, PetroAngola sees Angolans playing a pivotal role, leveraging their expertise and resources to tap into other lucrative regions within the DRC. This ambitious… Read More Here

Mining in Zambia Oil & Gas

Unlocking Zambia’s Oil and Gas Potential

April 22, 2024April 22, 2024 Constance

Zambia, the world’s seventh-largest copper producer, is ramping up infrastructure and mineral exploration efforts while partnering with international firms to expand its renewable energy sector. Although its petroleum industry is relatively untapped, emerging developments driven by strategic positioning and promising geology present enticing opportunities for upstream investments. Regional Exploration Success Highlights Zambian Prospects Zambia shares geological similarities with neighboring countries that have witnessed significant exploration success, particularly in oil and gas. These include exploration in the East African Rift Basin – featuring the Lake Albert Rift Basin in Uganda and… Read More Here

International Oil & Gas Petroleum

KBR Secures Management Contract for Lobito Refinery Expansion Project in Angola

April 5, 2024April 5, 2024 Constance

Engineering firm KBR has been awarded a project management contract for the development of the Lobito Refinery, a significant project located in Benguela Province, Angola. With a capacity of 200,000 barrels per day (bpd), this refinery expansion project marks a pivotal moment in Angola’s oil industry. Under the contract granted by Angolan national oil company Sonangol, KBR will oversee the engineering, procurement, and construction (EPC) phase of the project. This agreement solidifies a 20-year partnership between KBR and Sonangol, demonstrating KBR’s continued commitment to the region. Jay Ibrahim, President of… Read More Here

International Governance Oil & Gas

Senegal’s New President Initiates Audit of Extractive Sectors

April 4, 2024April 4, 2024 Constance

In a televised address on Wednesday, newly elected President Bassirou Diomaye Faye announced Senegal’s plans to conduct a comprehensive audit of the oil, gas, and mining sectors. Faye’s landslide victory in the March election reflects the nation’s aspirations for change. The audit marks one of the initial policy actions undertaken since Faye’s inauguration on Tuesday. Emphasizing the importance of natural resource management, Faye stated, “The exploitation of our natural resources, which belong to the people according to the constitution, will be a top priority for my government.” While details about… Read More Here

Petroleum Mining in DRC Oil & Gas

Fuel Smuggling Attempt Thwarted in Cabinda Province

March 30, 2024March 30, 2024 Constance

Approximately 7,500 liters of fuel were confiscated last Saturday in Cabinda province by members of the first Border Guard Police Unit, suspected of being smuggled into the Democratic Republic of Congo (DRC). According to a press release from the Institutional Communication and Press Department of the Ministry of the Interior (MININT), the fuel seizure took place at the Tendequele Village Border Post during routine patrols near the land border with the DRC. The fuel, comprising diesel and gasoline, was discovered packed in 300 drums of 25 liters each inside a… Read More Here

International Oil & Gas Petroleum

Nigeria Leads Shell’s Payments to Governments, Receiving Record $4.92 Billion in 2023

March 22, 2024March 22, 2024 Constance

In 2023, Nigeria emerged as the top recipient of payments from Shell, receiving the highest payments in the form of production entitlements, royalties, taxes, and fees amounting to $4.92 billion, marking the highest figure recorded in four years. Shell’s total payments to governments across 27 countries in 2023 amounted to $29.51 billion. Following Nigeria, Oman and Norway ranked as the second and third highest recipients, receiving payments of $4.09 billion and $3.81 billion, respectively. Nigeria’s payout from Shell increased by 8.85 percent compared to the previous year, representing 16.67 percent… Read More Here