Africa > Central Africa > Congo Brazzaville > Petroleum / Mining

Petroleum / Mining in Congo Brazzaville

  • Africa rejects Europe's 'dirty diesel'

    BOTSWANA, 2017/05/04 Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1. Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year. The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.
  • DR Congo lowers economic growth forecast for the third time this year

    CONGO BRAZZAVILLE, 2016/08/27 The Democratic Republic of Congo has slashed its economic increase estimate for 2016 to 4.3 %, compared with 6.9 % in 2015. According to a statement released the prime ministers office, the lower estimate is due to the impact of low commodity prices. The new downgrade is the third this year next the government in June lowered the increase estimate to 5.3 % from an before prediction of 9 %.
  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • Oil legislation proposed in Democratic Republic of Congo

    CONGO BRAZZAVILLE, 2013/10/02 A controversial hydrocarbons bill, concerning the management of planned oil production expansion in the Democratic Republic of Congo, has by presently passed the Congolese senate and is set to be discussed in the parliamentary session which began on Sunday, September 15. For the country that has the lowest GDP per capita in the world and where 7 million children do not go to school, increased oil production presents an opportunity for economic development. However, there are concerns that the bill’s poor drafting will facilitate corruption and could leave the Congo’s fledgling oil industry open to abuses, whilst some opponents of the proposed legislation are aghast that it would allow drilling in Virunga National Park, a UNESCO world heritage site. Global Witness has called upon the Congolese Parliament to stall the bill, allowing time for further consultation. They believe the bill in its current national is not fit for purpose and requires a lot of development.
  • Global gas consumption to increase by 4% in 2013

    BOTSWANA, 2012/12/25 World gas request is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is estimate to reach 890.3 bcm in 2013, equivalent to 25.7% of world request. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%),