The DRC’s known oil reserves along the Atlantic Coast (via EnerGulf Resources)
According to a recent Quartz Africa article by Patrick Edmond and Kristof Titeca, the DR Congo could be sitting on oil reserves of up to 20 billion barrels. This would make the country the second-biggest petrostate in Africa, after Nigeria with 37 billion barrels in reserves. However, only a tiny fraction of that oil has actually been found, and none of it extracted yet.
Why isn’t the DRC keen to cash in on this bounty? There are obvious logistical challenges in a country which barely maintains its road network. But there are also political economy issues at play. As Edmond & Titeca note,
The main reason [the government has actively and passively blocked oil development] is that doing so would take time and investment, while political careers in the Congo are short and unstable. Moreover, those in power are also aware that such sources of revenue could end up in opponents’ hands or might have to be extracted in a politically-hostile part of the country. In terms of regime security, it is simply safer not to develop the sector. In this situation, the oil sector is not there to be developed, but to serve as a political reward for regime loyalists.