Congo’s first refinery, the Congolaise de raffinage (Coraf), in operation since 1982, has a capacity of 1 million tons per year, but officially it only processes 600,000 tons annually while the country’s needs are estimated at 1.2 million tons. Congo produces 204,735.33 barrels per day of oil (as of 2016) ranking 37th in the world.
How much will a new oil refinery cost in Congo?
Faced with chronic fuel shortages, the Republic of Congo is seeking to refine more oil at home. President Dennis Sassou Nguesso on sunday launched the construction of a new, bigger refinery near the port city of Pointe-Noire. The 2.5 million tons per year facilty will cost $600m.
Who buys oil from the Republic of Congo?
Several leading purchasers of Congolese oil that are EITI Supporting Companies, including Trafigura and Glencore, disclose their purchases of crude oil from the Republic of Congo at the international level, albeit only disaggregated by cargo for volumes purchased and aggregated by year for the values of purchases.
Does the Republic of Congo disclose crude oil sales?
Since the 2017 EITI Report, the Republic of Congo has expanded the scope of disclosure of commodity sales to the crude oil sales by international oil companies on their own account (including their Cost Oil and Equity Oil).