Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Indies look to Equatorial Guinea as ExxonMobil pulls out
But even planned exploration activity is unlikely to reverse declining output from mature fields
Central Africa’s upstream attracts IOCs
Recent announcements demonstrate sustained interest in the mature region, especially among independents
Mozambique upstream progress defies unrest
The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north
Vaalco looks to expand
Independent’s CEO sees further opportunities for growth in Africa post-Transglobe merger
Vaalco project set to boost Equatorial Guinea’s upstream
Houston-based independent plans to start oil production in the country in 2026
Central Africa eyes regional pipeline network
Ambitious plans for a cross-border network of oil and gas pipelines in central Africa have some significant backers but will likely struggle to secure funds from traditional sources
ExxonMobil takes a chance on India’s upstream
The major’s involvement is a win for New Delhi as it seeks to promote offshore exploration
US politicians up windfall tax rhetoric ante
Surging downstream profits add fuel to the fire, but the spectre of demand destruction lurks
TotalEnergies targets 2027 startup for Papua LNG
Close collaboration between IOCs in Papua New Guinea means other developments may follow
ExxonMobil signs up for LNG from Next Decade
The deal continues the trend of developers making long-term agreements to start in the second half of this decade and is another milestone for the Rio Grande project
Equatorial Guinea ExxonMobil
Jacinta Windham
Cape Town
17 August 2017
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

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
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
Brazil looks to solve its energy security travails
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
India ready for turbulent times
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search