International investors court Congo-Brazzaville
The West African country’s energy resources are once again attracting foreign attention, but the positive outlook for gas contrasts with that for oil
Congo-Brazzaville’s upstream is drawing renewed interest from international energy companies and foreign governments, which bodes well for the oil-revenue-dependent nation’s established—but maturing—upstream hydrocarbons sector. Chevron has long been active in Congo-Brazzaville and had a meeting with the government in October. William Lacobie, managing director of Chevron's southern Africa strategic business unit, saw Prime Minister Anatole Makosso to discuss “issues of exploitation and exploration of oil and gas”. The US major “intends to launch new exploration for hydrocarbons and develop opportunities in the field of gas”, according to the Congolese authorities, who cite Lacobie as saying
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them