Congo's Hydrocarbons Minister Endorses Congo Energy & Investment Forum (CEIF) 2026, Eyes 500,000 bpd Production Target
H.E. Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, has endorsed the continuation of the Congo Energy&Investment Forum (CEIF) through 2026, emphasizing its role in supporting the country's ambitious production targets. During a Fireside Chat with Daisy Portella at the Congo Energy&Investment Forum 2025, Minister Itoua said, 'Considering Congo's objective to reach 500,000 barrels per day in the next three years, I want CEIF to be held annually for the next three years.'
Minister Itoua also announced plans to revise the 2016 Hydrocarbons Code to make it more attractive and modern. Minister Itoua announced that the revision is part of the ministry's strategy to enhance oil production by developing marginal fields. 'We are working on revisiting the 2016 Hydrocarbons Code to modernize it and make it more attractive,' he stated.
Discussing marginal fields, he outlined opportunities for local companies. 'Marginal fields provide immediate cash flow. They require only minimal additional investment and are within the reach of national companies. 'With the African Petroleum Producers Organization countries, we are considering this approach. Once we master this, we can move on to exploration.' He encouraged local players' participation, adding, 'We want to see national companies become true industrial players. There are opportunities for national oil companies to partner and grow.'
Minister Itoua shared the same objective for the Société Nationale des Pétroles du Congo (SNPC), stating, 'SNPC holds some marginal fields, such as Konkuala. I want to see SNPC become the Perenco of Congo. I intend to propose new offshore marginal fields to SNPC.'
As part of this strategy, Minister Itoua plans to launch a new licensing round soon to attract investment in deepwater, marginal fields, and gas assets. 'There may be a session soon to launch the new licensing round with Energy Capital&Power. We want to give access to deepwater acreage, some marginal fields, and a special bid round focused on gas,' he stated.
The Minister also emphasized the growing importance of gas in the country's energy strategy. 'We have accelerated the adoption of a gas code and we intend to create the Office Congolais du Gaz to serve as a local intermediary for stakeholders in the gas value chain,' he said. 'We are ready to discuss and support any gas project.'
Minister Itoua sees gas as a transition fuel that will enable Congo to achieve energy security while highlighting the continued need for fossil fuels. 'Studies show that until 2040, the global energy mix will still require 40% fossil energy,' he noted. 'Africa is working for the world, and gas is now recognized as the ideal transition fuel.'
Distributed by APO Group on behalf of Energy Capital&Power.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Web Release
2 days ago
- Web Release
Shaikha Nasser Al Nowais meets with leading French travel and tourism tech companies to promote innovation in the sector
H.E. Shaikha Nasser Al Nowais, Secretary-General elect of the United Nations Tourism for the 2026–2029 term, held a series of meetings with representatives of leading French travel and tourism technology companies. The discussions focused on advancing innovation and integrating cutting-edge technologies in the sector. Participants emphasized the critical role of digital solutions in improving service efficiency and strengthening the sector's readiness to adapt to rapid technological shifts. The meetings were held on the sidelines of Her Excellency's participation in VivaTech 2025 in Paris, held under the theme 'The New Frontiers of Innovation.' The meetings are part of Her Excellency's ongoing efforts to foster dialogue with the private sector in the tourism industry, in preparation for her assumption of office as UN Tourism Secretary-General early next year. Her Excellency said: 'Technology is a key pillar in my vision to develop a sustainable and responsible tourism sector both regionally and globally, given its vital role in creating innovative tourism models based on global best practices. It further improves quality of life while maintaining privacy and offering outstanding tourism experiences to visitors and tourists around the world.' H.E. emphasised the importance of increasing private?sector investment in digital solutions that support tourism sustainability and building an integrated digital infrastructure that enhances operational efficiencies in tourism. During the discussions, Her Excellency underscored the importance of strengthening partnerships between the UN Tourism and private tourism companies to develop new initiatives and projects that facilitate mobility and communication across countries, and improve tourism destinations, particularly in light of challenges such as climate change and evolving travel and tourism trends.
Web Release
2 days ago
- Web Release
Hospitality Advisory Council discusses new national initiatives to boost growth and employment opportunities in the sector
The Hospitality Advisory Council convened its second meeting of 2025 under the chairmanship of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council. The session brought together 16 Council members, including CEOs and senior executives from leading national and international hotel groups. Discussions focused on a range of new national initiatives developed in partnership with the private sector to accelerate the growth of the UAE's hospitality sector. The initiatives also aim to generate employment opportunities across all sectors of this vital industry. H.E. Bin Touq said: 'Thanks to the vision and guidance of our wise leadership, the UAE's tourism and hospitality sectors continue to thrive. In the first quarter of 2025, hotel revenues reached AED 13.5 billion, with over 8.4 million guests recorded, a two per cent increase compared to the same period in 2024. Total hotel nights reached 29.3 million, and the national hotel occupancy rate stood at 81.3 per cent during the same period.' H.E. added: 'These impressive figures reflect the UAE's strong commitment to advancing its hospitality industry in line with global best practices. We have invested heavily in developing hotel and entertainment infrastructure across all seven emirates, organizing major international events, and delivering exceptional hospitality experiences that reflect authentic Emirati heritage and culture. As a result, the UAE has become one of the world's leading hospitality destinations today.' The Minister of Economy continued: 'The year 2025 marks a major milestone for UAE tourism, marked by the election of Shaikha Al Nowais as the first woman globally to serve as Secretary-General of the UN World Tourism Organization for the term 2026-2029. This achievement reinforces the UAE's prominent role in supporting international efforts to advance the global tourism industry.' The meeting's discussions covered a comprehensive array of key files and initiatives that support the UAE's efforts to enhance the growth and competitiveness of its hospitality sector. Participants emphasized the importance of promoting collaboration between the public and private sectors to meet the objectives of the National Tourism Strategy 2031, which aims to establish the UAE as the top global tourism brand by the next decade. The Council also reviewed the newly launched 'Summer Hospitality Camp' program by the Ministry of Economy. It is designed to support Emiratization across hospitality-related sectors by offering hands-on training to school and university students in real-world environments such as hotels and tourism facilities, in addition to its structured learning tracks. Established by the Emirates Tourism Council, the Hospitality Advisory Council serves as a strategic advisory body to the Chairman of the Emirates Tourism Council on matters specific to the hospitality sector. It provides insights and data on industry developments, recommends private-sector initiatives to drive sector growth and reinforce the UAE's position as a leading global tourism destination, and offers feedback on government tourism policies and initiatives.
Web Release
3 days ago
- Web Release
Ministry of Economy launches Summer Hospitality Camp 2025 to build national capabilities in the hospitality sector
In the presence of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council, the Ministry of Economy launched the 'Summer Hospitality Camp 2025'. The comprehensive training program places students in real-world hospitality settings such as hotels and tourism facilities to enhance national tourism capabilities, supporting broader efforts to develop human capital in the UAE's tourism and hospitality sectors. The initiative aligns with the UAE Tourism Strategy 2031 and is being implemented in strategic partnership with academic institutions, tourism and hospitality companies, and leading hospitality providers across the country. The launch event was attended by H.E. Shaikha Nasser Al Nowais, Secretary-General elect of the United Nations World Tourism Organization for the 2026–2029 term, it was also attended by nearly 100 people representing the country's hospitality sector, along with student leaders, and industry professionals. Speaking at the event, H.E. Bin Touq emphasized that tourism has become a key driver of sustainable development and economic competitiveness, thanks to the vision and support of the UAE's wise leadership. Pointing out the sector's outstanding performance, he highlighted the importance of preparing leaders and developing national capabilities across tourism-related activities to ensure sustainable growth and enhance the sector's contribution to economic and social development. The Ministry of Economy works closely with government and private sector partners to achieve this strategic objective. H.E. added: 'The Summer Hospitality Camp is an investment in our young Emiratis, designed to equip them with the skills and training needed to thrive in the tourism sector. It reflects our commitment to increasing local participation in this vital industry and aligns with our vision for a dynamic tourism future led by capable Emirati talent. Through this initiative, we are preparing the next generation of leaders and innovators who will enrich the visitor experience in the UAE and serve as true ambassadors of our authentic Emirati identity and globally recognized hospitality.' H.E. Shaikha Nasser Al Nowais emphasized that the camp marks a significant step forward in building national capacity within the tourism sector. She noted that the program plays a vital role in developing human capital and cultivating world-class expertise through hands-on experience across various tourism and hospitality fields in the UAE. This model, she explained, aligns with global trends that position tourism as a key driver of economic and social development, advancing progress by building capabilities, attracting talent, and fostering innovation and sustainability. The Summer Hospitality Camp enhances Emiratization in the tourism sector by empowering country's youth and bridging the gap between university degrees and the labor market. It equips participants with practical experience and personal skills prior to entering the workforce. The program also focuses on building leadership qualities, teamwork spirit, and a culture of service excellence, while offering specialized hands-on training. The initiative will enable students to explore sustainable, long-term career pathways that align with global tourism growth and adhere to the highest international standards, further empowering youth to play an active and influential role in shaping the future economy. Organized in partnership with 35 hotel and tourism establishments across the UAE, the camp targets UAE nationals and residents aged 15 to 22, including high school and university students. It offers five specialized tracks: Hotels, Culinary Arts, Hospitality, Food Services, and Event Management. Programs will run from two to four weeks depending on the track, and include field training, mentorship sessions, site visits, and interactive workshops. Participants will receive accredited participation certificates. Students interested in joining can register at: The application period for the program will close at the end of June 2025.
