https://en.sputniknews.africa/20241009/congo-expects-50-gas-production-increase-in-next-three-five-years-hydrocarbons-minister-says-1068611544.html
Congo Expects 50% Gas Production Increase in Next Three-Five Years, Hydrocarbons Minister Says
Congo Expects 50% Gas Production Increase in Next Three-Five Years, Hydrocarbons Minister Says
Sputnik Africa
MOSCOW (Sputnik) - Earlier, Congo's Minister of Hydrocarbons, Bruno Jean-Richard Itoua, told Sputnik that the nation anticipates the next phase of... 09.10.2024, Sputnik Africa
2024-10-09T10:44+0200
2024-10-09T10:44+0200
2024-10-09T12:14+0200
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republic of the congo (congo)
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The Republic of the Congo expects a 50% increase in gas production in the country over the next three to five years, with oil production also expected to grow, Congolese Hydrocarbons Minister Bruno Jean-Richard Itoua said in an interview with Sputnik. The minister added that current oil prices, which are considered low, have a direct impact on budget revenues, but Congo hopes to offset this with higher production levels. Congo expects an improved oil and gas revenue situation next year and especially in two years, despite low prices, Itoua said, adding that he does not believe the situation will be dramatic for the country's budget by the end of the year.
https://en.sputniknews.africa/20241009/congo-hoping-russia-to-participate-in-construction-of-oil-refinery-in-country-minister-says-1068610770.html
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republic of the congo (congo), economy, gas, oil, energy, central africa, russia, russia-africa cooperation
republic of the congo (congo), economy, gas, oil, energy, central africa, russia, russia-africa cooperation
Congo Expects 50% Gas Production Increase in Next Three-Five Years, Hydrocarbons Minister Says
10:44 09.10.2024 (Updated: 12:14 09.10.2024) MOSCOW (Sputnik) - Earlier, Congo's Minister of Hydrocarbons, Bruno Jean-Richard Itoua, told Sputnik that the nation anticipates the next phase of collaboration with Russia, following the completion of an oil pipeline project, will be the construction of an oil refinery.
The Republic of the Congo expects a 50% increase in
gas production in the country over the next three to five years, with oil production also expected to grow, Congolese Hydrocarbons Minister Bruno Jean-Richard Itoua said in an interview with
Sputnik.
"In three years we have made about six-seven new oil and gas discoveries in Congo, although small but significant for us. We think we will have a 50% growth in gas production in the next three-five years. Neither oil nor gas production will definitely decline; it will grow," the minister said in an interview.
The minister added that current oil prices, which are
considered low, have a direct impact on budget revenues, but Congo hopes to offset this with higher production levels.
Congo expects an improved oil and gas revenue situation next year and especially in two years, despite low prices, Itoua said, adding that he does not believe the situation will be dramatic for the country's budget by the end of the year.
