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Drc Advances Oil Rights For Sonahydroc

oil-gas

Apr 17, 2025

Energy Capital Power

Energy Capital Power

The Democratic Republic of the Congo’s (DRC) Council of Ministers has approved a draft decree that grants state-owned oil company SONAHYDROC the rights to Blocks 1 and 2 in the Albertine Graben.

The decree was introduced on April 11 by Hydrocarbons Minister Aimé Sakombi Molendo during the Council’s 39th meeting. It allows for the direct allocation of the two blocks to SONAHYDROC under a service contract.

Located in eastern DRC, the Albertine Graben is seen as a high-potential zone for oil exploration. By awarding these blocks directly to SONAHYDROC, the government aims to fast-track exploration and production while strengthening national participation in the development of strategic resources.

The decree sets out the legal and fiscal terms for this allocation, ensuring it adheres to the existing regulatory framework. It also reflects the government’s broader strategy of leveraging state-owned enterprises to drive resource development.

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Kinder Morgan Maintains Annual Profit Forecast On Soaring Natgas Demand

Gas Processing and LNG

Kinder Morgan Maintains Annual Profit Forecast On Soaring Natgas DemandU.S. pipeline and terminal operator Kinder Morgan left its annual profit forecast unchanged on Wednesday, as it continued to bank on demand increase for natural gas even as President Donald Trump's sweeping tariffs sparked uncertainty across the energy industry. While Kinder Morgan does not expect tariffs to have a significant impact on project economics, it said the uncertainty sparked by them, along with commodity prices, caused the company to be "a little bit more conservative" in communicating its annual outlook. It expects to post an adjusted profit of $1.27 per share in 2025. The energy sector is bracing the impact of Trump's trade policy — which includes tariffs on steel imports — as well as an escalating trade war with China and falling crude prices. "We began efforts to mitigate the potential impact early in the quarter by preordering critical project components, negotiating caps on cost increases, and securing domestic steel and mill capacity for our larger projects, which total two-thirds of our project backlog," said CEO Kim Dang. The impact of tariffs is expected to be roughly 1% of the total project costs, she added. Any loss in demand for U.S. LNG in the Chinese market would be more than offset by increased imports by the European Union and Asia, the company said on a conference call. The company, which moves roughly 40% of total U.S. natural gas output, also said it continues to have a bullish outlook for natgas demand, banking on LNG export facilities and data centers. The Houston, Texas-based firm posted an adjusted profit of $0.34 per share in the first quarter, narrowly missing estimates of $0.35 per share, according to data compiled by LSEG. This was led by weaker earnings at its products pipelines segment and an 18.2% rise in total operating costs.

Oman Signs World’S First Commercial Scale Liquid Hydrogen Corridor Agreement

Saudi Gulf Projects

Oman Signs World’S First Commercial Scale Liquid Hydrogen Corridor AgreementAs part of the state visit of His Majesty Sultan Haitham bin Tarik of Oman to the Kingdom of the Netherlands, the Sultanate of Oman signed a landmark Joint Development Agreement (JDA) to establish the world’s first commercial-scale liquid hydrogen corridor linking Oman to Europe. The project will enable the export of RFNBO-compliant liquid hydrogen from the Port of Duqm in Oman to the Port of Amsterdam in the Netherlands and the Port of Duisburg in Germany. The agreement brings together eleven entities from Oman, the Netherlands, and Germany, including Hydrom, OQ, Port of Duqm Company SAOC, Port of Amsterdam, duisport – Duisburger Hafen AG, Ecolog International, EnBW Energie Baden-Württemberg AG, Tata Steel, Advanced Methanol Amsterdam, Hynetwork Services and other key stakeholders.