Congo's Oil Auction Dilemmas: Environmental Concerns Take Center Stage

Congo's government canceled a major oil exploration auction for 27 sites, citing late submissions and low competition. This auction cancellation raises environmental concerns as the sites overlap Congo Basin's critical rainforests and peatlands, crucial for carbon capture. Future bidding plans remain undisclosed, highlighting ongoing environmental debates.

The government of Congo has shelved an auction for 27 oil exploration sites, citing late submissions and inadequate competition, according to a statement from oil minister Aimé Sakombi Molendo.

The sites in question, known as oil blocks, hold an estimated 22 billion barrels of oil and were initially put up for bidding two years ago. However, the auction failed to meet its anticipated success, prompting the government to cancel it and plan for a new auction round. Details on the timing and the number of blocks for the future auction remain undisclosed.

The decision coincides with mounting environmental concerns, with advocacy groups alerting to the auction's potential impact on the Congo Basin's rainforests and peatlands. These crucial ecological zones capture substantial quantities of carbon dioxide and overlap with more than a dozen of the intended auction plots, including Virunga National Park, a haven for some of the world's rarest gorillas.

(With inputs from agencies.)