Low oil prices have hurt Nigeria’s upstream revenues but a long-overdue administrative restructuring of the national oil company and improved production at Nigeria’s refineries should give the country’s downstream hydrocarbons sector a welcome boost.
Oil is the lifeblood of Gabon’s economy, representing half of state revenues and around 80% of export earnings in 2014. The absence of major new discoveries, declining production at mature fields and the halving of oil prices over the past year have dampened the short-term outlook, leading to a push for enhanced oil recovery and new exploration. If confirmed, recent offshore gas discoveries...
An upper-middle-income country situated on the Gulf of Guinea, Gabon is one of Africa’s leading oil producers. With a population of around 1.7m and a stable political system, it plays a leading role in the region through its membership in the CEMAC economic bloc.
With commercial production of crude oil dating back to 1908, T&T’s long history in the energy industry has helped the country punch above its weight in regional and global terms. In 2013 T&T produced 1.5trn cu feet of natural gas, making it the world’s sixth-largest LNG exporter and largest LNG supplier to the US. T&T is also the world’s largest exporter of ammonia and second-...
In 2015 it is clear that the Caribbean energy balance is beginning to change, creating new challenges and opportunities for regional governments. A number of things are happening simultaneously. Most Caribbean countries are heavily dependent on oil imports and have accumulated high levels of debt. For them, the sharp fall in oil prices since late 2014 is creating...
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