Petroleum Africa
Find us on: 
Friday, June 3, 2016
The Republic of Congo may cut its budget in 2016 by 9% due to the drop in revenue it continues to see from lower crude prices. The government reduced its spending in mid-2015 due to lower oil prices also.
Initially set at 2.333 trillion CFA francs ($4 billion), spending under the revised budget will drop to 2.122 trillion CFA francs, the country’s communications manager Thierry Moungalla said on state television.
The country’s petroleum revenues, which account for about 65% of its domestic product, were reduced to 544 billion CFA francs from 754 billion CFA francs in the revised budget. The new budget must now be approved by parliament.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
