A U.S.-owned firm conducted oil exploration studies off Guinea’s coast. In February 2012, their first exploratory well uncovered oil of a non-commercial quality. In September 2017, their second exploratory offshore drilling reportedly did not find commercially exploitable quantities of oil.
What are the major consumers of Guinea’s oil & gas reserves?
Major consumers include mining companies, retail gasoline stations, and the state-owned electric utility’s diesel generators. The extent of Guinea’s potential oil and gas reserves remains unknown, but promising. A U.S.-owned firm conducted oil exploration studies off Guinea’s coast.
Does Guinea have oil & gas reserves?
The extent of Guinea’s potential oil and gas reserves remains unknown, but promising. A U.S.-owned firm conducted oil exploration studies off Guinea’s coast. In February 2012, their first exploratory well uncovered oil of a non-commercial quality.
Does Guinea have a fuel shortage?
Guinea has no petroleum refineries in the country, meaning that even the slightest disruption in fuel deliveries can provoke fuel shortages, as seen in June 2022. Major consumers include mining companies, retail gasoline stations, and the state-owned electric utility’s diesel generators.
Which country produces the most oil in Africa?
Equatorial Guinea is a significant oil producer in Africa. Crude oil produced by the country is primarily extracted from the Alba, Zafiro, and Ceiba regions. As a result of the recent increase in the extraction of petroleum, the country’s economy has grown significantly.
What is the best prospect industry sector for Guinea?
The Guinean government is assessing ways to repair its dilapidated energy grid and may seek new avenues to access petroleum products for its power plants. This is a best prospect industry sector for this country. Includes a market overview and trade data.