Inaugural Congo Energy & Investment Forum Kicks Off, Positioning Congo as a Key Energy Player
The inaugural Congo Energy&Investment Forum (CEIF) officially opened with welcome and keynote addresses by key industry leaders operating in the Republic of Congo's energy sector. With an ambition to double oil production to 500,000 barrels per day by 2027, and with the upcoming launch of a new Gas Master Plan, CEIF 2025 offers a platform for attendees to connect with leaders in Congo's energy market.
Speaking during the opening session Congo's Minister of Hydrocarbons Bruno Jean-Richard Itoua outlined Congo's potential as a key driver of energy in Central Africa, highlighting critical reforms and initiatives aimed at maximizing the country's energy potential.
'It is with great pride and happiness that I'm taking the floor today to deliver the official opening of Congo Energy&Investment Forum,' Minister Itoua stated, adding, 'The outline of this forum is in line with Congo's National Development Goal of 2022-2026 and our ambitious vision to modernize infrastructure and create an inclusive investment environment.'
Meanwhile, Sébastien Brice Poaty, General Secretary of Congo's parastatal Société National de Pétroles du Congo (SNPC) explained that Congo remains committed to the development of hydrocarbons, as well as renewable energy, to drive access throughout the country. Poaty indicated that the parastatal has finalized the Gas Master Plan – set to launch at CEIF 2025 – and is preparing for the coming adoption of the new Gas Code, which is expected later this year.
'This conference is part of a broader aspect on the future of the Congo. SNPC was created to valorize the energy potential of the Congo and support economic development while engaging in a sustainable transition,' stated Poaty, adding, 'Investing in Africa remains one of the keys to the continent's development.
Speaking on Congo's potential to attract investment to the energy market, Haitham Al Ghais, Secretary General of OPEC, stressed the importance of stability in the market. 'Congo is an extremely valuable member of the OPEC family,' Al Ghais said, adding, 'Congo's oil will be essential considering the future growth of oil demand.'
Dr. Omar Farouk Ibrahim, Secretary General, the African Petroleum Producers' Organization (APPO) stressed the importance of the Congolese government to review its strategies and revitalize its hydrocarbons sector. Additionally, Dr. Ibrahim highlighted that, while the global energy landscape is undergoing a massive paradigm shift, Congo must remain committed to driving the development of its oil and gas resources.
'The Republic of Congo has long been a significant player in Africa's oil and gas industry. As the third-largest producer in sub-Saharan Africa, with proven crude oil reserves of 1.8 billion barrels, Congo possesses immense potential for development in frontier basins,' he said.
The Opening Ceremony also included keynote presentations by key industry players in Congo's energy industry including energy majors TotalEnergies and Eni, as well as independent producers Imperatus Energy and Ammat Global Resources and the African Energy Chamber.
'With increasing global competition for capital, future success in Congo depends on maintaining a competitive fiscal framework and a stable regulatory and legal environment to ensure long-term viability on investments,' stated Mike Sangster, Senior Vice President for Africa, TotalEnergies E&P.
Andrea Berberi, Managing Director, Eni Congo announced during his presentation that the company completed its ninth cargo of LNG on March 24, reaching 1 million cubic meters of LNG produced and exported in the market. 'Today, we are proud to be part of this new sector in the Republic of Congo,' Berberi stated.
'There are great operators in the country working on different projects,' stated Massimiliano Mignacca, Director General, Ammat Global Resources, adding, 'Ammat's activities are notably in upstream, but we are committed along the entire lifecycle of hydrocarbons.'
Calling on Congo to replicate the success of neighboring oil producers such as Angola, NJ Ayuk, Executive Chairman, the African Energy Chamber, expressed his optimism for the country to capitalize on regulatory reforms and improved governance to attract global investment.
'At a time when we look at the energy industry, when we look at global shifts in energy, we look at Congo for energy stability. It is for that reason that Congo takes a very strong position, but we need to recognize that energy reforms need to happen,' stated Ayuk.
Meanwhile, Oumar Semega, CEO and Founder, Imperatus Energy Group noted that energy plays a key and strategic role for the Congo. 'At Imperatus, we have a clear vision to create value across every stage of the oil and gas sector, from extraction to commercialization,' stated.
Distributed by APO Group on behalf of Energy Capital&Power.
CEIF 2025 takes places from March 24-26 in Brazzaville. The event is held under the highest patronage of Congo's President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and SNPC. For three days, CEIF 2025 brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
18 minutes ago
- Arabian Post
China's Iran Oil Bet Hits Strategic Snag
China is confronting significant disruption to its Iranian crude oil supply, risking both its energy security and geopolitical ambitions in the Middle East. With over 90 per cent of Iran's oil exports directed to China via Kpler, the contraction of that flow places Beijing's $400 billion 2021 cooperation deal in jeopardy. Major Chinese independent refiners, the so‑called 'teapots' in Shandong province, are enduring mounting losses as deepening discounts on Iranian oil clash with soaring global prices. Discounts have widened to between $3.30 and $3.50 a barrel against ICE Brent for July cargoes – up from approximately $2.50 in June – contributing to refinery utilisation dropping to around 51 per cent, down from 64 per cent a year ago. Despite Israel's airstrikes targeting Iranian energy infrastructure and concerns over potential U.S. sanctions, Iran has maintained its exports through a shadow tanker fleet and strategic logistics adjustments. Kpler reports that crude loadings have reached a five‑week high of about 2.2 million barrels per day, assisted by the use of a less exposed jetty on Kharg Island and pre‑positioning of floating stocks nearer to China – including approximately 8 million barrels stationed offshore China. ADVERTISEMENT In 2024, Iranian shipments to China peaked at 1.6 million barrels per day, but that volume had already declined to roughly 740,000 bpd by April 2025, as broader Middle East instability and tightening sanctions exerted pressure. Rival supplies from OPEC+ producers like Saudi Arabia and the UAE may partially compensate, yet analysts emphasise that prolonged disruption would still erode Beijing's strategic leverage and diplomatic role in the region. For China, this dependence on Iranian crude is part of a broader ambition to deepen its influence across the Middle East as a counterweight to the West. The initial rationale behind the 25‑year deal encompassed energy security, infrastructure projects, trade expansion, and regional diplomacy. But the conflict's escalation threatens those objectives, undermining China's established pipeline for cheap oil and complicating its efforts to mediate regional tensions. Economists note the urgency for Beijing to accelerate its shift toward renewable energy and domestic self-reliance. China had already reached a milestone with renewables comprising 56 per cent of its electricity capacity in 2024. The current moment has intensified calls to reduce external vulnerabilities and accelerate electrification. At present, the Chinese government has refrained from military engagement, calling for de-escalation and abstaining from direct intervention in support of Iran. Instead, it is pursuing regional diplomacy while guarding its considerable investments. A Chinese foreign ministry spokesperson emphasised the need to 'prevent the region from spiralling into greater turmoil', particularly to secure stable energy imports. However, should the conflict deepen, or if key Iranian oil infrastructure suffers irreparable damage, China's reliance on opaque supply routes and shadow trading may no longer suffice. Its medium‑term strategy of presenting itself as a credible peace broker in the Middle East faces growing strain amid diverging interests between Iran and Gulf states. China appears poised to rely more heavily on Gulf crude, yet that reliance comes with its own geopolitical calculations. Riyadh and Abu Dhabi together hold significant spare capacity – over 4 million barrels per day – which may cushion global shocks but do little to salvage China's ambition to sustain influence via energy partnerships. The unfolding developments in the Israel–Iran arena have exposed strategic fissures in a partnership that once appeared unshakeable. Even as Iran adapts tactically to maintain its export pipeline to China, Beijing must confront the reality that maintaining influence in the region demands resilience beyond discounted barrels and shadow fleets.
Arabian Post
2 hours ago
- Arabian Post
Gulf Growth Gains Amid Israel–Iran Strains
Gulf economies—led by the UAE and Saudi Arabia—are forecast to sustain stronger growth, underpinned by higher oil output and robust non-oil activity, even as tensions between Israel and Iran add volatility to the region's economic outlook. Capital Economics estimates the UAE economy will expand by approximately 5.8 percent this year, propelled by elevated oil production and expansion in tourism, finance and construction sectors. The non-oil sector continues to account for three‑quarters of national output, demonstrating effective economic diversification and a supportive fiscal framework. In Saudi Arabia, output has received a boost from OPEC+ adjustments. Riyadh, urging increased production, has reversed voluntary cuts of the past five years—liberating more oil onto global markets. This strategic move supports GDP growth, although economists caution it may obscure a weakening non-oil sector if public spending tightens. ADVERTISEMENT The Israel‑Iran confrontation has prised markets into cautious territory. Brent crude spiked above $78 per barrel before cooling slightly, driven by anxiety over possible supply shocks—from disruptions in Iran or through the Strait of Hormuz—though analysts generally see deep disruption as unlikely. Asian refiners, including in India, have shifted toward securing Middle East crude via term contracts, avoiding speculative premiums in spot markets. The UAE's stock markets reflect this duality. Following earlier losses, the Dubai and Abu Dhabi indices rebounded—rising 1.6 percent and 1 percent respectively—as hopes of de‑escalation emerged, buoyed by diplomatic mediation efforts. Nevertheless, Capital Economics warns that if the conflict deepens, Gulf growth advantages could erode. Iran's economy—roughly 0.85 percent of global GDP—might shrink by around 50 percent in a prolonged conflict, impacting trading partners; the UAE's exports to Iran alone represent 1.2 percent of GDP. A wider regional confrontation could trigger oil-price spikes, creating destabilising ripple effects. Yet projections remain cautiously optimistic. Capital Economics outlines a scenario in which hostilities subside within weeks: oil prices normalise near $65 per barrel and Gulf GDP growth remains robust. Oxford Economics likewise suggests that even in more severe oil‑shock scenarios, the macroeconomic impact may be limited and manageable. Longer‑term resilience in the Gulf is being supported by strategic diversification initiatives. UAE's efforts to expand non-oil industries through tourism, financial services and infrastructure are dovetailing with Saudi Arabia's Vision 2030—including privatisation of state assets and SME expansion to lift non-oil GDP share. Nevertheless, analysts assert that non‑oil sectors in Saudi Arabia are showing signs of strain. Early signs of contraction coincide with public spending consolidation, even as oil revenues rise. UAE diversification, in contrast, has maintained momentum, with forecasts rising from 4 percent in 2024 to 4.5 percent in 2025 and 5.5 percent in 2026. Region‑wide growth expectations have been revised upward—GCC economies are now seen expanding around 4.4 percent this year, a 0.4 point upgrade—driven by faster OPEC+ output and sustained non-oil activity in key states. Despite these positive forecasts, cautious tones persist. Market volatility has increased across bonds, equities and currencies. A protracted conflict—which includes threats to Strait of Hormuz oil shipments—could have serious economic consequences.
Zawya
a day ago
- Zawya
Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict
SINGAPORE/NEW DELHI - Asian refiners have requested more term crude oil supplies loading in August and September from producers in the Middle East after spot premiums jumped, six trade sources said on Friday. Spot premiums for Middle East benchmarks rose above $3 a barrel on Thursday, the highest levels in four months, on fears of supply disruption after fighting broke out between Israel and Iran last week. "We are receiving additional interest from our customers in Asia," a source at a Middle East crude supplier said, adding that the requests are for cargoes loading in August and September. A source at an Asian refiner said the official selling prices (OSPs) for Middle East crude are lower than spot levels, making it more economical to seek more term supplies. Two sources at Indian refineries said they will be receiving more July-loading term crude supply from Middle East suppliers as they anticipate lower supplies from Russia. The sources declined to be named as they are not authorised to speak to the media. Producers such as Saudi Aramco, Abu Dhabi National Oil Co (ADNOC) and Iraq's SOMO typically notify term customers on their allotted volumes a month before cargoes are due to load. It is not immediately clear if the producers will supply more oil, three sources said, although one of them pointed to rising output from the bloc. The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, are unwinding supply cuts, planning to increase output by 1.37 million barrels per day between April and July.
