Hydrocarbons: Total reassures about its activities in Congo

The General Manager of the oil company, Martin Deffontaines, said that there is a balance between supply and demand despite the volatility of the market.
26 Sep, 2019

The boss of Total EP Congo was received in Brazzaville, on 26 September, by the Minister of Finance and Budget, Calixte Nganongo. The two men discussed the local and international economic context, followed by oil issues.     

Total EP is an important player in the country's industrial fabric, stressed its General Manager, which explains the close relations with the authorities. “The global economic context is a little complicated at the moment because we have seen that there has been quite a lot of tensions, particularly in the Strait of Ormuz and in the rafineries. We also saw that Brent did not necessarily react to the increase…” he said.

The price of Brent is now at sixty dollars. A stable but prudent situation, Martin Deffontaines said. “I think that in the future, we have to be careful about the estimates and I think that Brent may no longer see in the short term the values that were known to it in the years up to 2014”, Martin Deffontaines warned.


Source: Les Dépêches de Brazzaville