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Category: Petroleum

Zambia's ERB Assures Stable Fuel Supply Amid Logistical Challenges 1 Mining in Zambia Oil & Gas Petroleum 

Zambia’s ERB Assures Stable Fuel Supply Amid Logistical Challenges

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The Energy Regulation Board (ERB) has assured Zambians of a stable fuel supply despite logistical challenges impacting fuel imports. ERB Director General Elijah Sichone stated during a media briefing in Lusaka that the country currently has adequate stocks of diesel and petrol. He acknowledged, however, that changes in transit fuel regulations in neighboring countries, particularly Zimbabwe, have disrupted transportation routes and slowed imports. Mr. Sichone revealed that as of November 15, 2024, a survey of 610 out of 617 retail fuel stations showed 82.1% were actively selling both diesel and… Read More Here
Minister Aimé Molendo Sakombi Outlines Vision for DRC's Oil Sector Growth and Sustainability 2 Mining in DRC Oil & Gas Petroleum 

Minister Aimé Molendo Sakombi Outlines Vision for DRC’s Oil Sector Growth and Sustainability

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On Thursday, November 14, 2024, Minister of Hydrocarbons Aimé Molendo Sakombi provided an in-depth analysis of the Congolese oil sector at the Hilton Hotel, during the Hydrocarbons House event, held alongside the tenth edition of the Makutano Forum. While the Democratic Republic of Congo (DRC) is often called a “geological scandal” due to its vast natural resources, its oil production is currently limited to a mere 20,000 barrels per day—a stark contrast to the country’s potential. Minister Sakombi emphasized that key regions like the Central Basin, the Albertine Graben, and… Read More Here
Maniema Province Ushers in New Era with Oil Tax Agreement 3 Mining in DRC Oil & Gas Petroleum 

Maniema Province Ushers in New Era with Oil Tax Agreement

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A new era is emerging for Maniema Province following a significant development on Monday, October 21. Oil companies and the provincial government signed a historic memorandum of understanding to establish a conventional tax on petroleum products. This tax, set at 300 Congolese francs per liter, aims to fund ambitious projects to improve the province’s infrastructure. The revenue generated from this tax will be allocated to road infrastructure projects, enhance public services, and stimulate the local economy. The decision, reached after extensive negotiations, was met with enthusiasm from all stakeholders. During… Read More Here
ERB Confirms Zambia's Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts 4 Mining in Zambia Oil & Gas Petroleum 

ERB Confirms Zambia’s Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts

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The Energy Regulation Board (ERB) has assured that Zambia currently holds sufficient petroleum stock levels, addressing recent fuel shortages experienced in parts of the country. According to ERB, logistical issues related to cross-border fuel transportation have been the primary cause of these localized shortages. To mitigate this, the ERB has temporarily eased movement restrictions on Petroleum Road Tank Vehicles to facilitate more efficient fuel deliveries and reduce supply gaps. ERB Director General, Elijah Sichone, reported that the nation has 35.8 million liters of diesel and 8.9 million liters of petrol… Read More Here
Fuel Prices Drop by 13% in DRC's West Zone as Govt Moves to Combat High Cost of Living 5 Mining in DRC Oil & Gas Petroleum 

Fuel Prices Drop by 13% in DRC’s West Zone as Govt Moves to Combat High Cost of Living

Constance
The price of fuel in the Democratic Republic of Congo’s (DRC) West zone has seen a significant reduction, with gasoline dropping from 3,340 to 2,990.49 Congolese francs per liter, a 13% decrease. Similarly, diesel prices have fallen from 3,435 to 2,979.73 Congolese francs per liter, also marking a 13% reduction. This price cut follows the orders signed on Wednesday, October 2, by Daniel Mukoko Samba, the Vice Prime Minister and Minister of the National Economy. According to a statement from the Ministry of National Economy, the government is closely monitoring… Read More Here
DRC Oil Prices Rise 2.91% Amid Commodity Fluctuations 6 Mining in DRC Oil & Gas Petroleum 

DRC Oil Prices Rise 2.91% Amid Commodity Fluctuations

Constance
The price of a barrel of oil, a key export for the Democratic Republic of Congo (DRC), saw a 2.91% increase, trading at USD 74.52 during the week of September 13–20, 2024. This marks a notable rise from the previous week, as reported by the Central Bank of Congo (BCC). According to the BCC’s economic report, oil prices on the international market had earlier shown fluctuations, with the week of September 6–13, 2024, witnessing a slight 0.92% drop, bringing prices down to USD 72.41 per barrel. This is a 7.87%… Read More Here
South Kivu Governor Bans Import of Fuel to Boost Local Revenue 7 Mining in DRC Oil & Gas Petroleum 

South Kivu Governor Bans Import of Fuel to Boost Local Revenue

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Jean Jacques Purusi, Governor of South Kivu province, has implemented a ban on mining companies and other businesses importing petroleum products from foreign countries, including Rwanda. He is now requiring that all fuel be sourced from local oil companies to prevent revenue loss for the province. “Chinese mining companies and road construction firms have been refueling in Rwanda each year. This practice is now strictly forbidden; all fuel must be purchased within the province,” Governor Purusi announced at a meeting held on Sunday, September 8, at Concorde Stadium. The governor… Read More Here
DRC Govt's Fuel Subsidies Keep Prices Low but Rack Up Significant Debt 8 Mining in DRC Oil & Gas Petroleum 

DRC Govt’s Fuel Subsidies Keep Prices Low but Rack Up Significant Debt

Constance
Deputy Prime Minister and Minister of National Economy, Daniel Mukoko Samba, disclosed on Monday during a joint press conference with Minister of Communication and Media, Patrick Muyaya, that the Congolese government is heavily subsidizing petroleum product prices to keep them affordable for the population. “Currently, a liter of gasoline costs 3,475 Congolese francs and diesel 3,465 francs. However, when you purchase a liter of fuel, you’re only paying a fraction of its actual cost. The government covers the rest,” said Mukoko Samba. He explained that the subsidy ranges from 2,100… Read More Here
President Tshisekedi Urges Fuel Price Reduction Amid Rising Costs 9 Mining in DRC Oil & Gas Petroleum 

President Tshisekedi Urges Fuel Price Reduction Amid Rising Costs

Constance
During the eighth meeting of the Council of Ministers, President Félix Tshisekedi called for urgent measures to lower fuel prices in the Democratic Republic of Congo (DRC). He highlighted potential opportunities within the current petroleum pricing structure that could lead to reduced costs at the pump for consumers. President Tshisekedi emphasized the need to reassess the average border price (PMF), logistics and operational costs, and various taxation elements. He instructed the Vice Prime Minister, the Minister of National Economy, the Minister of Hydrocarbons, and the Minister of Finance to evaluate… Read More Here
Zambia Turns to Angola for Fuel Imports to Ensure Supply Stability 10 Mining in Zambia Oil & Gas Petroleum 

Zambia Turns to Angola for Fuel Imports to Ensure Supply Stability

Constance
Zambia is actively considering the importation of fuel from Angola to secure a consistent supply within the country. Rodney Kalota, Director of Petroleum at the Ministry of Energy, announced this development, highlighting the government’s commitment to ensuring a stable fuel supply. Speaking at the Zambia Chamber of Commerce and Industry’s (ZACCI) Energy Breakfast Meeting in Lusaka, Kalota stated, “The government is committed to exploring various measures to ensure a constant fuel supply in the country.” Kalota also reaffirmed the Ministry of Energy’s dedication to President Hichilema’s directive to stabilize fuel… Read More Here

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