Ethics, Æsthetics, Ecology, Education

Story of the Hour

Back to All Events

Congo to offer 30 oil and gas blocks for licensing

  • The Oregon Institute for Creative Research 1826 Southeast 35th Avenue Portland, OR, 97214 United States (map)

REUTERS

KINSHASA, July 18 (Reuters) - Democratic Republic of Congo will offer 27 oil blocks and three gas blocks, nearly double as many as previously planned, in a licensing round next week, the hydrocarbons ministry said on Monday.

Congo, a leading miner of copper, cobalt, gold and diamonds, has long aimed to boost its oil sector and is believed to have sizeable reserves. Output has remained flat for years at about 25,000 barrels per day because of underinvestment.

Environmental groups and activists have expressed alarm at the plans, as many of the concessions overlap national parks. Congo has in the past defended its right to drill for oil in national parks.

The blocks to be put up for auction on July 28 include three in the coastal basin of Kongo Central province, nine in the Cuvette Centrale, 11 near Lake Tanganyika and four near Lake Albert. The three gas blocks are on Lake Kivu.

Read full article here