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An ExxonMobil FPSO off the coast Nigeria.
An ExxonMobil FPSO off the coast Nigeria. © ExxonMobil/DR
Running story Oil & gas

The oil companies' quiet retreat from the Gulf of Guinea 

Long considered an oil Eldorado thanks to the presence within the region of Africa's two leading oil producers, Nigeria and Angola, the Gulf of Guinea is declining. The inexorable rundown in its output -few if any new discoveries have been made recently in Gabon, Cameroon or Equatorial Guinea - and the fall in oil prices brought about by the Covid-19 pandemic have speeded up the retreat from the region in which the oil majors have been engaged for some years already. [...]
Gabonese President Ali Bongo getting off his plane during a visit to Beijing, 2018.
Gabonese President Ali Bongo getting off his plane during a visit to Beijing, 2018. © Jin Liwang/Xinhua News Agency/Newscom/MaxPPP
Focus Politics Offshore finance 24/05/2021

Private jets, offshore fields, football, magazines: the presidential palace's untraceable holdings 

A string of offshore companies with no identified owner have been linked to transactions within the presidential couple's entourage. All were incorpoated by the same financiers who also happen to be associates of Gabon's sovereign wealth fund. [...]

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