The Congo is not for sale (CNPAV) coalition organized a press conference during which it sharply criticized the Minister of Hydrocarbons, Didier Budimbu. According to this coalition, the minister maintains opacity in the process of selecting operators for certain oil blocks, and this could cost the Democratic Republic of Congo (DRC) dearly.
Lewis Yola, expert in downstream oil and oil contract negotiation, member of the CNPAV, made a startling statement. According to his revelations, the oil company Perenco Rep costs the Republic at least 40 million USD per year due to the non-payment of two tax headings, surface tax and royalties. Moreover, if the opacity that characterizes the process of awarding and negotiating oil and gas blocks is not lifted, the DRC could lose up to 1 billion USD.
Lewis Yola also called for the oil sector in the DRC to go through in-depth studies before deciding whether or not to exploit these resources effectively. He calls on the President of the Republic to take an interest in this question to enable the Republic to bail out the public treasury.
These revelations underscore once again the need for the DRC to strengthen its transparency in the field of oil and gas, in order to ensure that these resources are used in a responsible and ethical manner. It is time for the DRC to tackle corruption issues to protect the national interest and preserve the country’s resources for future generations