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
3 June 2025
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
3 June 2025
Datacentres to drive demand for gas and position the fuel as more than just a bridging solution
2 June 2025
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
2 June 2025
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
