How has the recent drop in oil prices affected Gabon, and how is the industry responding?
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Interviews & Viewpoints | Serge Toulekima, CEO, Gabon Oil Company: Interview from The Report: Gabon 2015
Articles & Analysis | Gabon hopes to increase hydrocarbons production through new discoveries from The Report: Gabon 2015
Oil remains the lifeblood of Gabon’s economy, representing half of state revenues and around 80% of its export earnings in 2014. The country benefits from relatively light, sweet crude from accessible onshore deposits, and has potential in deep offshore blocks. However, the absence of any major new oil discoveries, declining production at mature...
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.
Lower government revenues following the downturn in global hydrocarbons prices have prompted Trinidad and Tobago to re-evaluate its spending priorities and intensify its efforts to diversify the largely energy-driven economy. Thanks to the country’s strong fundamentals, 2015 is expected to be a recovery year, with the Caribbean Development Bank forecasting expansion of 1.7%, after GDP growth of less than 1% in 2014.