Petroleum - Copperbelt Katanga Mining

Eni Sells Congolese Oil Portfolio to Perenco in $300M Deal

June 29, 2023June 29, 2023 Constance

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

Mining in Zambia Oil & Gas Petroleum

Zambia’s Energy Regulation Board Explains Fuel Stock Outs

June 28, 2023June 28, 2023 Constance

The Energy Regulation Board -ERB- has attributed fuel outages at selected filling stations in the country to logistical challenges by Oil Marketing Companies -OMCs- that operate the retail sites. The ERB notes that it has received reports from OMCs who have had import challenges related to the scarcity of foreign exchange on the market coupled with the depreciation of the Kwacha against the dollar especially in the last six months. ERB Manager – Public Relations NAMUKOLO KASUMPA however says the situation is expected to improve as the Kwacha appreciates against… Read More Here

Oil & Gas Petroleum

Sonangol and China’s CNCEC Forge MoU for Lobito Refinery

June 8, 2023June 8, 2023 Constance

Angola’s national oil company (NOC) Sonangol signed a Memorandum of Understanding (MoU) with China National Chemical Engineering (CNCEC) in Beijing for the construction of the Lobito Refinery. The MoU will see the parties raise the required financing for the project and could potentially lead to a contract for the construction of this important infrastructure by the Chinese company. The MoU was signed by Sonangol Chairman Gaspar Martins, on behalf of the NOC, on June 6 in the Chinese capital Beijing, and in the presence of the Minister of Mineral Resources, Oil and… Read More Here

Mining in DRC News in Brief Petroleum

Deputy Prime Minister of the DRC Establishes Fixed Fuel Prices in the Western Zone

June 8, 2023June 8, 2023 Constance

In an order signed on Wednesday, June 7, 2023, the Deputy Prime Minister in charge of the Economy, Vital Kamerhe signed an order fixing fuel prices in the western zone of the Democratic Republic of Congo. The new price list fixes the liter of gasoline at 2,995 FC; diesel at 2,985 FC; oil at 2,450 FC (has not changed); the FOMI at 2,061.06 FC; and GAS at 4,831.57 FC. For petrol and diesel, this is a price increase of 5% compared to the prices fixed since November 30, 2022. Read More Here

Mining in Zambia Oil & Gas Petroleum

Zambia’s Energy Regulation Board Issues Warning Against Petroleum Product Hoarding

June 4, 2023June 4, 2023 Constance

The Energy Regulation Board (ERB) in Zambia has issued a stern warning to Oil Marketing Companies (OMCs) and Petroleum Retail Dealers regarding the deliberate withholding of petroleum product sales, particularly in the days leading up to the monthly pricing review announcement. The caution comes in response to reports of alleged stock shortages at certain filling stations prior to the ERB’s price review announcement. Namukolo Kasumpa, the ERB Public Relations Manager, emphasized that this practice constitutes hoarding, which is strictly prohibited under the conditions of the Licence to Retail Petroleum Products.… Read More Here

Mining in Zambia Petroleum

Zambia Announces Substantial Reduction in Fuel Pump Prices Effective 31st May

June 1, 2023June 1, 2023 Constance

Effective from midnight on May 31st, fuel pump prices in Zambia will experience a substantial reduction, bringing relief to consumers. The Energy Regulation Board (ERB) has announced the new prices, highlighting the significant decrease in the cost of various fuel types. Petrol prices will witness a reduction of K3.14 ngwee per liter, resulting in a new price of K24.45 ngwee, down from the previous K27.59 ngwee. Similarly, Low Sulphur Diesel prices will experience a notable decrease from K24.64 ngwee to K21.87 ngwee per liter. Kerosene will also be available at… Read More Here

Petroleum Mining in Zambia

Tazama Pipeline Rupture Causes Low Sulphur Diesel Spillage in Mbeya, Tanzania

May 17, 2023May 17, 2023 Constance

In a recent incident on Monday, May 15, 2023, at approximately 13:40 hours, the Tazama Pipeline in Mbeya, Tanzania experienced a rupture, resulting in the leakage of low sulfur diesel. The Tazama Pipeline, jointly owned by the Governments of the Republic of Zambia and the United Republic of Tanzania, is a crucial 1,710 km petroleum pipeline responsible for transporting low sulfur diesel from Dar-es-Salaam in Tanzania to Ndola in Zambia. According to the details of the incident, the rupture occurred when a motor grader, contracted by the Tanzania Rural Roads… Read More Here

Oil & Gas Mining in DRC Petroleum

DRC in Talks with Uganda on Using Planned Oil Pipeline for Export

May 11, 2023May 11, 2023 Constance

The Democratic Republic of Congo has commenced discussions with neighbouring Uganda for possible use of the East African country’s planned crude oil pipeline to export petroleum, DRC’s hydrocarbons ministry said. Uganda is developing the $3.5bn 1,445km (898-mile) East African Crude Oil Pipeline (EACOP) that will start from oil fields in its Albertine rift basin on its western border with DRC to Tanzania’s Indian Ocean seaport of Tanga. The controversial pipeline is for transporting Uganda’s crude to international markets when it starts production in 2025. The DRC Ministry of Hydrocarbons said in a… Read More Here

Mining in DRC Oil & Gas Petroleum

At the UN, Félix Tshisekedi defends calls for tenders on oil blocks

September 21, 2022September 21, 2022 arnbethnic

“There is no relevant international legal instrument ratified by the DRC prohibits it from exploiting its natural resources for the sake of environmental protection” -Tshisekedi DRC President, Félix Tshisekedi took advantage of the United Nations platform on Tuesday to discuss the environmental aspect of the call for tenders launched on July 28 by the DRC for the exploration of its 27 oil blocks and 3 gas blocks. He acknowledged that this call “seems to be unnecessarily controversial in the international public arena”. According to the Congolese Head of State, “no relevant… Read More Here

Petroleum International Oil & Gas

Uganda will ‘go ahead’ with TotalEnergies megaproject despite EU criticism

September 19, 2022September 19, 2022 arnbethnic

Ugandan President Yoweri Museveni said on Friday that he would go ahead with the planned oil megaproject with the French group TotalEnergies despite a European parliament resolution slamming his “human rights violations” against opponents. The project “will continue as stipulated in the contract we have with TotalEnergies and (Chinese oil giant) CNOOC,” Museveni said on Twitter. “TotalEnergies convinced me of the pipeline idea; if they choose to listen to the European parliament, we will find another partner to work with,” he added. “In any case, our oil will be extracted… Read More Here