Petroleum - Copperbelt Katanga Mining

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

Petroleum Mining in DRC

Oil markets, the DRC Government promises to support SEP Congo to alleviate the crisis

June 12, 2022June 12, 2022 arnbethnic

The readjustment of fuel prices would be inevitable given the current international situation marked in particular by the Russian-Ukrainian conflict. Through the Ministry of National Economy, the Government of the Democratic Republic of Congo (DRC) is very attentive to the difficulties encountered by operators in the oil sector, in particular the company SEP Congo. During a moderated press conference, this Thursday, June 9, 2022, by the Secretary General of the Ministry of the Economy, Célestin Twite Nyembo, he said that the readjustment of fuel prices is inevitable following the economic… Read More Here

Mining in DRC Energy Petroleum

Didier Budimbu, The DRC Minister of Hydrocarbons exchanges with oil companies on the storage and supply of petroleum products

May 9, 2022May 9, 2022 arnbethnic

The Congolese Minister of Hydrocarbons, Didier Budimbu, exchanged, this Friday, May 6, 2022, with the heads of various oil companies in the Democratic Republic of Congo (DRC). During this meeting, three points were the subject of the debate between the Minister Didier Budimbu and the heads of the oil companies, namely: • the situation of stocks in the terminals with a view to evaluating the coverage of different products and the arrival program for new tankers, especially Jet A1 for which the situation is critical; • The situation of the… Read More Here

Mining in DRC Oil & Gas Petroleum

DRC government intends to stop subsidizing large mining companies in particular following the crisis affecting the oil sector

April 11, 2022April 11, 2022 arnbethnic

To contain the crisis that has shaken the oil sector since the start of the Russo-Ukrainian conflict, the government plans to stop subsidizing mining companies in particular. Finance Minister Nicolas Kazadi had expressed to elected officials his fears about the increase in the debt due to oil companies in terms of loss of earnings as part of their work exercise. This subsidy may increase to more than 400 million USD for the current year in order to keep the price of petroleum products stable, while the budget available for these subsidies is… Read More Here