The country’s first refinery, the Congolaise de raffinage (Coraf), has been in operation since 1982. The refinery has the capacity to process 1 million tons of oil per year, but officially only processes 600,000 tons annually. The country’s needs are estimated at 1.2 million tons.
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.
How much oil does Congo produce a year?
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.
What happened to oil production in Congo?
By the turn of the century, production began to decline as existing oil fields reached maturity. As of 2008, oil production has increased every year as a result of several new projects, mainly Congo’s first deep-water field Moho-Bilondo. The Congo is the sixth largest oil producer in sub-Saharan Africa.