Gabonese President Oligui Nguema at the UN
Billion-dollar deal sees Gabon swap barrels for instant cash
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
Commodities trader Trafigura has agreed to a $1b prepayment deal with the government of Gabon in exchange for the future delivery of crude oil over a seven-year period. The trader will have exclusive offtake rights to Gabonese profit oil, marketed from the various production-sharing agreements in the country and drawing on a diversified pool of producing assets and operators. Trafigura has started a syndication process to distribute a portion of the exposure among international financial institutions, reflecting what it terms “strong market appetite” for the transaction. Gabon has a history with commodities trader financings. In May 2025, rival trader Gunvor helped fund Gabon Oil Company’s a
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