Gabon is the fifth-largest oil producer in sub-Saharan Africa and oil dominates the economy, accounting for roughly half of state revenues and more than 80% of export revenues. Over the last decade, however, output has declined as the country’s larger oil fields mature.
Oil production peaked in 1997 at 370,000 bpd but stabilised in recent years around 240,000 bpd. The decline in...
With just 1.63m people, Gabon is the second-smallest member of the six-country Central African Economic and Monetary Community in terms of population, after Equatorial Guinea. However, the country’s well-developed hydrocarbons sector has made Gabon the second-largest economy in the sub-region.
As new discoveries are being made in the north of the country, and as the industry develops increasingly sophisticated extraction technologies, Kuwait’s oil revenues should see a new boost. The authorities are also seeking to develop the country’s natural gas resources, as these could provide a valuable alternative for electricity generation. Although the kingdom was ranked as the world’s...
Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
The near future will bring positive change for the energy sector and the economy as a whole, as the investment and construction phase of the $19bn Papua New Guinea liquefied natural gas (LNG) project winds down and the first shipments of gas begin to flow. Progress is also being made in the utilities sector, with major power generation projects and the expansion of water and sewage networks....
Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction.
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