Congo’s disappearing discovery
The Republic of Congo’s announcement of a major discovery appears to be targeted more at extorting EU environmentalists and multilateral lenders than attracting IOCs
One year ago, the cash-strapped Republic of Congo announced it had discovered enough oil in its jungle interior to quadruple daily production. A find of this scale would transform the finances of the central African country (also known as Congo-Brazzaville) and strengthen ruler Denis Sassou Nguesso’s grip on power in the one-party state ahead of presidential pseudo-elections in 2021. Yet as the discovery’s anniversary approaches, scant information has been forthcoming and the government’s keenness to hype a seemingly bogus find underscores the waning credibility of Sassou’s endemically corrupt administration. “Some of the figures published in 2019 about this oil ‘discovery’ were totally ab
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
