Petroleum - Copperbelt Katanga Mining

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

Mining in DRC Oil & Gas Petroleum

The DRC maintains the production of 26,000 barrels per day, the project to launch calls for tenders from 16 oil blocks officially adopted

April 10, 2022April 10, 2022 arnbethnic

The file related to the project to launch calls for tenders on oil blocks open to exploration in the various sedimentary basins of the Democratic Republic of Congo was approved this Friday, April 8 at the 48th meeting of the Council of ministers. This, after its presentation by the Minister of Hydrocarbons Didier Budimbu. He specified that this allocation of hydrocarbon rights aims at the production of the oil resources of the Democratic Republic of Congo with a view to improving State revenue on the one hand and increasing national production… Read More Here

Petroleum International Oil & Gas

Nigeria’s Ministry of Petroleum Resources Signs Partnership with African Energy

January 27, 2022January 28, 2022 admin

Nigeria’s Ministry of Petroleum Resources has fully endorsed African Energy Week (AEW) 2022, partnering with the AEC for the second edition of Africa’s premier energy event. Taking place in Cape Town on the 18th -21st of October, AEW 2022 extends on the narrative of making energy poverty history by 2030, uniting energy leaders, global financiers, and both public and private sector executives for a week of intense dialogue on Africa’s energy future. Having partnered with one of Africa’s energy sector heavyweights, the event is well positioned to lead Africa into… Read More Here

Mining in DRC Energy Petroleum

DRC is revising the price structure of petroleum products in the South and East zones

January 23, 2022January 23, 2022 arnbethnic

The question of the shortage of petroleum products in the South and East zones was the subject of discussions, on Wednesday January 19, 2022, between the Minister of the National Economy and that of Hydrocarbons. In the light of these exchanges, the two members of the Sama Lukonde Government did not rule out a possible update of the price structure of petroleum products in these two zones considered by the end of this week. Having taken into account the measure of the current overheating, the two Ministers who are trying… Read More Here

Mining in DRC Oil & Gas Petroleum

Ituri: Oil importers threaten to close their gas stations, due to high tax from the DRC’s hydrocarbons division

October 25, 2021October 25, 2021 arnbethnic

Importers of petroleum products in Ituri are protesting against a tax estimated at 175,000 US dollars per oil importer from Ituri. This is revealed by the content of a joint letter, signed on October 19, 2021 by Daniel Mugisa, provincial president of importers of petroleum products and Arsène Lombu, interim president of the provincial council of the FEC Ituri representing his incapacitated leader addressed to the national minister of hydrocarbons after their meeting held on Monday, October 18, 2021 at Gold Stars Hotel. These importers of fuel and its substitutes are… Read More Here

Energy Mining in DRC Oil & Gas Petroleum

Perenco Oil Company DRC | A Brief Profile

May 20, 2020May 24, 2020 arnbethnic

Perenco is currently the only oil company operating in the Democratic Republic of the Congo (DRC). Since 2000, the company has invested heavily in new wells and has demonstrated on a daily basis the know-how and ingenuity of its teams in a very isolated context. Production 2018 25,000 BOEPD Activities Perenco operates 11 fields onshore and offshore in the DRC with an average production of 25,000 boepd. The onshore drilling programme started in 2002 and allowed the commissioning of about 25 wells per year. The total gross production is… Read More Here

Oil & Gas Petroleum

Angola’s new budgetary restrictions underline government’s determination to support OPEC

May 13, 2020May 13, 2020 arnbethnic

Angola’s minister of finance H.E Vera Daves signed on April 22nd a ministerial order suspending the implementation of all contracts signed under the Public Investment Programme whose source of funding has not yet been definitively secured. This is one of a number of emergency measures, including a freeze in public sector hiring that was announced in recent weeks in response to the oil price crash and the expected reduction in government revenue for 2020. Minister Daves’ order is in line with Presidential Decree no. 96/20 of April 9th which declared… Read More Here

Mining in DRC Energy Petroleum

The Governement of DRC Reduces Fuel Pump Price by 10-20%

May 7, 2020May 7, 2020 arnbethnicPetroleum

The government of DRC reduces fuel pump prices ranging between 10% – 20%. Acacia Bandubola Mbongo, Minister of the National Economy, signed decrees on Tuesday (May 5th) to reduce the price of petroleum products throughout the country. This new pricing is applicable as of Thursday, May 7. The government, in the minutes of the Council of Ministers on Monday, May 4, announced that it had reached a compromise with the tankers for the lower price of fuel at the pump following the global price drop due to the Coronavirus pandemic.… Read More Here