We are a relatively new entrant to the palm sector, launching our Edible Oils business in 2007 with minority stake investments in African-based operations. Our business consists of third party trading, plantations and milling in Gabon, and refining and distribution in Mozambique.
How much oil is produced in Gabon?
Crude Oil Production in Gabon averaged 233.55 BBL/D/1K from 1973 until 2023, reaching an all time high of 374.00 BBL/D/1K in August of 1995 and a record low of 150.00 BBL/D/1K in February of 1973. source: Organization of the Petroleum Exporting Countries
Why is Gabon’s oil industry on the rise?
Gabon’s oil industry is on the rise after facing uncertainty due to price crashes and pandemic disruptions. With renewed interest from investors and regulatory changes, Gabon is making strides towards reaching its ambitious oil production targets. Learn about the key players and strategies driving this resurgence.
Why is Gabon redeveloping oil fields?
Given Gabon’s background, it is no surprise that much of the country’s upstream efforts are being focused on the redevelopment of mature or marginal oil fields. Prioritizing short-cycle developments generate cash flow at lower cost by utilizing existing discoveries and infrastructure, which can bring production online within a few years.
Is Gabonese a oil-rich country?
Available in French. Even among oil-rich nations, the extent to which hydrocarbons has fueled the Gabonese economy throughout its independent history is exceptional. Since production started in the 1950s, the majority of the country’s GDP has been derived from crude oil exports.
How have hydrocarbons fueled the Gabonese economy?
Even among oil-rich nations, the extent to which hydrocarbons have fueled the Gabonese economy throughout its independent history is exceptional. Since production started in the 1950s, the majority of the country’s GDP has been derived from crude oil exports.