Congo brought in 304,6 billion FCFA in oil revenues in the second quarter of 2026, compared to 130,6 billion FCFA a year earlier, representing an increase of 133,2 %. This growth, detailed in the economic situational report from the Directorate General of Economy (DGE), occurs against a backdrop of a strong rise in crude oil prices.
According to World Bank data cited by the Congolese Ministry of Economy, the average price of a barrel was 104,4 dollars in the second quarter of 2026, compared to 67,8 dollars during the same period in 2025. The oil market has thus experienced spectacular acceleration in the span of a few months.
After fluctuating between 63,7 and 75,6 dollars during the four quarters of 2025, the average price of a barrel rose to 80,5 dollars in the first quarter of 2026, before reaching 104,4 dollars in the second quarter, representing an increase of 29,7 % in just three months. For the full year 2026, the macroeconomic framework assumes an average price of 86 dollars per barrel, compared to 69 dollars in 2025, an increase of 24,6 %.
The DGE attributes this surge in particular to the deterioration of the situation in the Middle East. The note mentions "the crisis in the Middle East and particularly the closure of the Strait of Hormuz, through which nearly 20 million barrels per day would transit, or about 20 % of global oil consumption".
This price spike has directly boosted revenues derived from Congolese exports, even as production also increased. In the second quarter, oil production reached 26,4 million barrels, compared to 24,6 million a year earlier, an increase of 7,3 %.
The DGE explains this growth by "the improvement of oil processing and extraction facilities GPL, the return to production of long-closed wells, as well as the contribution of new drilling and performance gains on active wells". The increase in exported volumes was even more marked.
Exports rose from 22,5 to 25,2 million barrels over one year, an increase of 12,2 %. Combined with the appreciation of the price of crude, this increase in volumes strongly inflated the value of oil exports.
These thus brought in 1 371,4 billion FCFA in the second quarter of 2026, compared to 847,1 billion FCFA a year earlier. The gain reached 524,3 billion FCFA, an increase of 61,9 %.
The Nkossa Blend, one of the main crudes exported by Congo, particularly contributed to this performance. Its sales volumes increased by 69,1 %, while their value jumped by 161,9 %, rising from 104,5 to 273,8 billion FCFA.
The Djeno Blend, which remains the most exported crude, also showed a significant increase. Its value rose from 697,8 to 1 038,6 billion FCFA, while the marketed volumes only increased by 5,8 %.
Half of public revenues. This improvement in the oil sector directly affects public finances.
Oil revenues now represent 49,1 % of public revenues excluding grants, compared to 29,8 % a year earlier. They also more than doubled in the span of one quarter, going from 145,2 billion FCFA in the first quarter of 2026 to 304,6 billion FCFA in the second, an increase of 109,8 %.
Over one year, the increase thus reaches 174 billion FCFA. For the full year 2026, the macroeconomic framework forecasts 1 246,4 billion FCFA in oil revenues, equivalent to 11,6 % of PIB.
The trajectory observed in the first half therefore constitutes a determining element for the execution of these forecasts, even if it remains exposed to the volatility of international prices. This rise in oil prices, however, has a less favorable effect on the cost of supplies for the refinery.
The volumes intended for its supply remained almost stable, at 1,5 million barrels. On the other hand, their value increased strongly, rising from 47,4 to 69,8 billion FCFA, an increase of 47,1 %.
The average price paid for these supplies thus went from 31 834 to 45 917 FCFA per barrel. The DGE specifies that "the increase in the supply bill results essentially from the price effect".
In other words, while the rise in the price of crude boosts export revenues and state oil income, it simultaneously increases the bill related to supplying the refinery. Claude Paul Tjeg.
Published on 07/10/26 14:09. The Editorial Staff