Equatorial Guinea rebuilding bridges
Relations between Malabo and international oil companies seem to be warming up again
Boosting its plan to revive flagging oil output, Equatorial Guinea has announced a new production-sharing contract (PSC) with ExxonMobil and awarded several blocks to others. It might end a period of tension with international oil companies (IOCs). The West African country has struggled amid falling oil prices, which have stunted investment interest, as well as a decline in production. Even before prices slumped, in 2014, output had declined to 281,000 barrels a day. It bumped up to 289,000 b/d the following year but that was still well beneath the 358,000 b/d output reached in 2005. Gabriel Obiang Lima, Equatorial Guinea's energy minister, told the Africa Oil and Power conference in Cape To
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
