Category: Petroleum

For two days, there has been a new shortage of fuel in Lubumbashi, capital of the Haut-Katanga province, as well as the southern zone of the DRC.According to sources close to the matter, this deficiency in petroleum products is a result of the hardening of the distributors’ tone following the failure to respect the commitments made by the Government via the Minister of the National Economy. Oil companies say they are languishing under the weight of enormous losses and shortfalls that have not been reimbursed. The service stations operating in… Read More Here

The distribution of petroleum products should continue without interruption in the Western Zone of the Democratic Republic of Congo (DRC). These guarantees were given by the Congolese Prime Minister, Jean-Michel Sama Lukonde, at the end of a working session held on Tuesday, October 17, 2023, with the group of oil tankers. It was in the presence of the Ministers of Finance, Hydrocarbons, and representatives of the banks. The three parties harmonized views and clarified the situation prevailing in the oil sector, in particular the problem of payment of shortfall that the… Read More Here

The city of Lubumbashi, located in the Haut-Katanga province in the Democratic Republic of Congo, is facing a severe fuel crisis due to an ongoing strike initiated by players in the oil industry. In response to this tense situation, Deputy Prime Minister and Minister of the National Economy, Vital Kamerhe, led a government delegation to Lubumbashi on Saturday, September 30. The delegation included the Minister of Hydrocarbons, Didier Budimbu, and other senior officials. The primary objective of this mission is to assess the demands of oil sector operators in the… Read More Here

The price of oil on international markets continues to improve week after week following the decision of the member countries of the Organization of the Petroleum Exporting Countries (OPEC). According to data from the Central Bank of Congo dated August 4, 2023, the price of a barrel of oil stood at 85.56 USD in the first week of August 2023. “As of August 3, 2023, the price of a barrel of oil stood at 85.56 USD, recording a weekly increase of 2.12% driven by the announcement by Saudi Arabia, the… Read More Here

Italian global oil and gas major Eni has announced the sale of its oil assets in the Republic of Congo to independent Anglo-French hydrocarbons firm Perenco in a $300 million deal. The oil assets include Eni’s operations and interest in various exploration and production permits in the central African country. The focus is on developing gas resources to ensure energy security, environmental sustainability, and global impact, according to a press release. The deal comes at a time when Eni is developing infrastructure for the Congo liquefied Natural Gas (LNG) project which… Read More Here