In English Sous l’effet de l’augmentation des prix de l'énergie, les recettes d’exportation du pétrole gabonais ont progressé, malgré un léger ralentissement des volumes de production. Au premier trimestre 2017, la valeur des exportations de pétrole du Gabon a progressé de 70,9% sur 12 mois pour s'établir à 51,30 dollars (42,90 euros) le baril, contre 30 dollars (25,10 euros)…
At the beginning of July 2016 Gabon rejoined the Organisation of Petroleum Exporting Countries (OPEC) after an absence of more than two decades. This comes as Gabonese authorities look for enhanced coordination with other global oil producers to alleviate some of the pressure of low energy prices and help cultivate an environment more conducive to expanding domestic production. Back Into The Fold While…
In a global environment of low oil prices, the Emerging Gabon Strategic Plan has sought to diversify the economy away from hydrocarbons since 2010. As such, over recent years the government has increased development of the hydropower sector, as well as expanding the country’s large natural gas supplies. Despite the oil crisis, Gabon remains very much dependent on oil revenues. The government is counting…
As the drop in oil prices continues, upstream investment in Gabon has slowed as operators decrease their capital expenditure and production costs. The situation is hardly unique to Gabon, with other producers in the Gulf of Guinea, such as Nigeria and Ghana, facing similar situations. However, it comes on top of a decline in Gabon’s production, down from a peak of 370,000 barrels per day (bpd) in…
In a global environment of low oil prices, the Emerging Gabon Strategic Plan (Plan Stratégique Gabon Emergent, PSGE) has sought to diversify the economy away from hydrocarbons since 2010. As such, over recent years the Gabonese government has increased development of the hydropower sector, as well as expanding the country’s large natural gas supplies – with new offshore deposit discoveries set…
Interview:Etienne Dieudonné Ngoubou What are the prospects regarding the exploration of deep and ultra-deep offshore blocks? ETIENNE DIEUDONNE NGOUBOU: The current drop in oil prices has pushed companies and countries to seek cost reductions in an effort to increase their margins in extractive activities. Of course, this does not favour exploration, especially in regard to deep offshore projects.…
Interview:Guy Maurice How has the drop in oil prices impacted upstream investment in Africa? GUY MAURICE: Today’s low-oil-price environment constitutes a sizeable headwind for much of the energy value chain, especially for exploration and production (E&P) companies. A natural countermeasure is the introduction of cost reduction initiatives. Fortunately at Total, we put these initiatives…
Interview:Jean Paul Camus What are the main challenges to production and distribution of water and electricity, and what is being done to overcome these issues? JEAN PAUL CAMUS: For several years now, the main challenge has been to keep up with the growth in demand. Except for in 2015, where we experienced a drop due to the impact of the oil crisis, demand has increased by around 6% per annum,…
Gabon benefits from considerable hydrocarbons reserves, with the World Bank citing Gabon as the fifth-largest oil producer in Africa. Oil accounted for 70% of exports, 20% of GDP, and 40% of budget revenues in 2015. However, declining production and lower oil prices have seen economic growth slow. Diversifying the economy is therefore a priority for the Bongo Ondimba administration, as evidenced b
