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Category: Oil & Gas

DRC Cuts Fuel Subsidy Losses by 89 Percent in Major Economic Reform 1 Mining in DRC Oil & Gas Petroleum 

DRC Cuts Fuel Subsidy Losses by 89 Percent in Major Economic Reform

Constance
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) has commended Deputy Prime Minister and Minister of Economy, Daniel Mukoko Samba, for achieving a dramatic reduction in revenue shortfalls owed to petroleum product distributors operating in the country. In an official letter, Anthony Nkinzo, Director of the Office of the Head of State, praised the achievement, highlighting the impact of reforms introduced by the Ministry of Economy. “The rigor and transparency of the adopted methodology, along with the significant 89% reduction in losses and shortfalls between 2023 and 2024,… Read More Here
Namibia Eyes Investment Rebound on Uranium, Oil, and Green Hydrogen Projects 2 International Energy Oil & Gas Uranium 

Namibia Eyes Investment Rebound on Uranium, Oil, and Green Hydrogen Projects

Constance
Namibia expects a strong rebound in foreign direct investment (FDI) this year following a 25% decline in 2024, driven by the restart of uranium operations and increased activity in oil exploration and green hydrogen projects. The southern African country is actively positioning itself to attract renewed capital in these strategic sectors, according to Francois van Schalkwyk of the Namibia Investment Promotion and Development Board. “Several international oil companies are continuing to invest not only in exploration but also in supporting services for future development,” he noted. “We anticipate that at… Read More Here
DRC to Revise Petroleum Code After Failed Oil Tender, Eyes U.S. Partnerships 3 Mining in DRC Contracts & tenders Oil & Gas 

DRC to Revise Petroleum Code After Failed Oil Tender, Eyes U.S. Partnerships

Constance
The Democratic Republic of Congo (DRC) is preparing a comprehensive overhaul of its Petroleum Code, with a draft reform expected to be submitted to the Council of Ministers within three months before being forwarded to Parliament, according to Hydrocarbons Minister Aimé Sakombi Molendo in an interview with Jeune Afrique. The proposed revision follows the unsuccessful July 28, 2022, tender for 27 oil blocks — a process that fell short due to several key factors: an uncompetitive tax regime, insufficient seismic data, and the inclusion of protected environmental areas within some… Read More Here
Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation 4 Mining in DRC Oil & Gas Partnership 

Angola and DRC Deepen Strategic Ties Through Oil and Infrastructure Cooperation

Constance
Angola and the Democratic Republic of Congo (DRC) are strengthening their bilateral relationship through joint hydrocarbon exploration, power grid integration, and regional transport development. Key projects such as the co-development of Block 14/23 in the Maritime Zone of Common Interest, electricity interconnection initiatives, and the Lobito Corridor railway are expected to advance cross-border trade and energy security, underscoring the value of regional collaboration. In April, Angola’s government approved a landmark agreement defining revenue sharing and compliance terms for Block 14/23, a key offshore oil concession jointly developed with the DRC.… Read More Here
DRC to Overhaul Petroleum Code in Bid to Attract Global Investors 5 Oil & Gas Mining in DRC 

DRC to Overhaul Petroleum Code in Bid to Attract Global Investors

Constance
In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi Molendo, announced that the country will undertake a complete revision of its Petroleum Code. According to him, the reform proposal will be submitted to the Council of Ministers within the next three months before being forwarded to Parliament for approval. Explaining the need for this reform, the Minister cited the failure of the oil block tender launched on July 28, 2022, which offered 27 petroleum blocks. The current code’s tax regime was deemed unattractive. Other… Read More Here
DRC Finalises Division of Cuvette Centrale with 52 New Oil Exploration Blocks 6 Mining in DRC Exploration Oil & Gas 

DRC Finalises Division of Cuvette Centrale with 52 New Oil Exploration Blocks

Constance
The Democratic Republic of Congo (DRC) has officially opened 52 new oil exploration blocks in the Cuvette Centrale sedimentary basin, according to a recent announcement by Minister of Hydrocarbons, Aimé Sakombi Molendo. This marks the completion of the basin’s division into exploration zones. The process was carried out in coordination with the Ministry of Environment to ensure that boundaries of protected areas were respected. The newly designated blocks add to the three exploration areas previously awarded to state-owned COMICO, located in Mbandaka, Lokoro, and Busira. The Cuvette Centrale region is… Read More Here
Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access 7 Mining in Zambia Oil & Gas 

Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access

Constance
The Ministry of Energy has officially opened the bidding process for oil marketing companies (OMCs) seeking access to the Tazama pipeline. This follows the successful completion of a review of the guidelines governing the Tazama Pipeline Open Access Framework. According to Principal Public Relations Officer Bob Sianjalika, both local and foreign OMCs are now invited to submit their bids for the use of the pipeline to transport diesel from Dar es Salaam to Zambia. The deadline for submitting bids is set for April 30, 2025. Sianjalika emphasized that the open… Read More Here
DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy 8 Mining in DRC Corporate News Oil & Gas 

DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy

Constance
At its April 11 Council of Ministers meeting, the Democratic Republic of Congo (DRC) approved a draft decree granting petroleum rights directly to the state-owned Société Nationale des Hydrocarbures du Congo (Sonahydroc). This decree establishes the legal and fiscal framework for the transfer, aligning with the country’s oil and gas law enacted on August 1, 2015. The move signals a renewed push by the DRC to revitalize oil exploration and increase domestic production, aiming to better capitalize on its untapped hydrocarbon potential. The plan includes the immediate allocation of blocks… Read More Here
Zambia’s First Diesel Offloading Marks Key Milestone in Energy Reform 9 Mining in Zambia Oil & Gas Petroleum 

Zambia’s First Diesel Offloading Marks Key Milestone in Energy Reform

Constance
The offloading of Zambia’s first diesel consignment under the newly introduced Open Access Framework has officially begun at the TAZAMA tanks in Dar es Salaam, marking a significant step in the country’s petroleum sector reform. The inaugural shipment, totaling 95,000 metric tonnes of diesel under Lot 1 for April 2025, is the first to be imported by Oil Marketing Companies (OMCs) using the Open Access model. This new framework allows independent importation of petroleum products through the TAZAMA Pipeline, aiming to enhance fuel supply efficiency and foster competition within the… Read More Here
Three Oil Marketing Companies Secure Contracts Under TAZAMA Pipeline Open Access 10 Mining in Zambia Oil & Gas 

Three Oil Marketing Companies Secure Contracts Under TAZAMA Pipeline Open Access

Constance
The TAZAMA Pipeline Open Access Selection Committee has awarded contracts to three oil marketing companies (OMCs) to supply low-sulfur gas oil to Zambia, marking a significant step in the country’s fuel supply strategy. Indeni Energy Company Limited, Boltt Global Solutions Limited, and a joint venture between Titanium Oil Corporation and ADNOC will begin utilizing the TAZAMA Pipeline in April 2025. According to the Ministry of Energy, each company has been contracted to supply 35,000 metric tonnes of diesel, totaling 105,000 metric tonnes. The contracts are valued at $2.94 million, with… Read More Here

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