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EQUATORIAL GUINEA

Covid-19 fails to dampen ExxonMobil's push on Zafiro sale

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“The oil companies' quiet retreat from the Gulf of Guinea”

GULF OF GUINEA

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. [...]

FPSO on the Equatorial Guinean Zafiro oilfield, 71% owned by ExxonMobil. © Carey Akin/CC BY-SA 2.0

One Africa's largest oil assets on sale is still getting the phones ringing and conference calls buzzing in the American oil major's headquarters in Texas. [...] (338 words)

Issue dated 17/06/2020 Reading time 2 minutes

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Energy

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EQUATORIAL GUINEA
Covid-19
EGLNG
ExxonMobil
Gabriel Obiang Lima
Gazpromneft
GEPetrol
Jean-Michel Jacoulot
Kosmos Energy
Lukoil
Marathon
Noble Energy
Robert McClure
Teodorin Obiang Nguema
Teodoro Obiang Nguema
Trident Energy

Vaalco eyes Chevron and ExxonMobil's assets

Boosted by strong financial results, US junior Vaalco Energy has plans for new acquisitions, and has its sights set on fields operated by oil majors ExxonMobil and Chevron in Equatorial Guinea. [...]

CONGO EQUATORIAL GUINEA GABON NIGERIA Energy 24/02/2021

Nigerian minister Sylva scolds defiant African OPEC members

At the request of Saudi Arabia and Russia, leaders of the Vienna-based organisation want to force Brazzaville and Libreville to comply with OPEC rules and have instructed Nigeria to pull the uncooperative members back into line. [...]

Equatorial Guinea's Hydrocarbons Minister Gabriel Obiang Lima and OPEC envoy Timipre Sylva, 18 February 2021.

EQUATORIAL GUINEA Politics 15/01/2021

Saga of first lady Constancia, son Teodorin and brother Candido continues

The subject of a Spanish arrest warrant, the ex-minister Candido Nsue Okomo has been rescued by his sister, who is also the wife of the Equatorial Guinean president. [...]

The gas installations at Punta Europa, on the island of Bioko, in Equatorial Guinea. © Pascal Fletcher/Equatorial-Image/Reuters

Spotlight

EQUATORIAL GUINEA Energy 11/11/2020

Maritime security: Marathon tries to resist Teodorin's plans to militarise Punta Europa LNG installations

A recent attempt by Nigerians from Niger Delta to take Marathon employees hostage in Equatorial Guinea has caused president-in-waiting Teodorin Obiang Nguema to react. He wants to impose security measures but the oil companies strongly disagree. [...]

Spotlight

EQUATORIAL GUINEA Energy 28/10/2020

Total fears for its petroleum products business after Teodorin Obiang greenlights new refinery

A plan to build a new modular refinery, which is due to come into operation in 2022-2023, threatens to put an end to Total's virtual monopoly on Equatorial Guinea's petroleum products business. [...]

EQUATORIAL GUINEA Energy 16/10/2020

Chevron tasks exec to assess Noble Energy's gas assets

The American oil major is currently examining the option of holding on to Noble Energy's Equatorial Guinean and Cameroonian assets. [...]

EQUATORIAL GUINEA Energy 09/09/2020

VP Teodorin Obiang's oil ministry reshuffle gambit backfires

Having largely provoked the latest changes to the cabinet line-up, President Tedodoro Obiang Nguema's favourite child and presumed successor failed to persuade his father to go with his choices. [...]

Teodorin Obiang Nguema has already been designated by the Obiang family to succeed his father as the country's president. © DR

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EQUATORIAL GUINEA Politics 08/09/2020

Obiang family member Candido Nsue Okomo driven into exile for opposing Teodorin's power grab

If they oppose the vice president's bid for his father's "throne", even Obiang family members are pressured into finding other ways of occupying themselves...far from Equatorial Guinea. [...]

EQUATORIAL GUINEA SAO TOME AND PRINCIPE Energy 31/08/2020

Kosmos finds itself at heart of joint development zone project

Future drilling projects have placed the US oil company Kosmos Energy in the position of go-between in negotiations between the governments of São Tomé and Equatorial Guinea. [...]

SENEGAL Energy 25/08/2020

Struggling in Equatorial Guinea, Lukoil foiled over Sangomar by Woodside

The cut-price acquisition of Senegal's Sangomar field by Lukoil, a firm run by a close associate of Vladimir Putin, has been derailed. [...]

Artist's impression of FPSO to develop the Sangomar field.

EQUATORIAL GUINEA Energy 21/08/2020

Why oil minister Gabriel Obiang is furious about PM Obama Asue's reappointment

The reappointment of Obama Asue as prime minister following the resignation of the government is a new demonstration of the growing power of vice president and president in waiting Obiang Nguema. [...]

Equatorial Guinean prime minister Francisco Pascual Obama Asue.

Chevron Energy CEO Jean-Michel Jacoulot. © Chevron Energy

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EQUATORIAL GUINEA Energy 19/08/2020

Will Chevron wreck secret deal on Zafiro between Noble and Trident?

Trident had finally managed to find a partner for the ExxonMobil deposit that was acceptable to the oil ministry, but all its efforts could turn out be in vain. The US giant Chevron's entry into the equation may ruin everything. [...]

Spotlight

EQUATORIAL GUINEA Politics 23/07/2020

First lady accelerates made-to-measure succession for Teodorin

As the strength of family patriarch Teodoro Obiang Nguema wanes, his wife Constancia is setting up the political mechanisms which will enable their son Teodorin to take his place as president. [...]

EQUATORIAL GUINEA Energy 25/05/2020

Levene wants Zafiro/Exxon's crude despite GEPetrol and Teodorin Obiang's rebuff

The junior Nigerian oil company Levene's Equatorial Guinean portfolio continues to grow but powerful enemies are doing their best to block its path. [...]

EQUATORIAL GUINEA Energy 31/03/2020

Fourth Sino-Nigerian pair to enter fray for Exxon's Zafiro?

Two new actors are are mulling the idea of a consortium to take Zafiro off ExxonMobil's hands for which there are already three other contending groups. [...]

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EQUATORIAL GUINEA Energy 03/03/2020

Gabriel Obiang Lima: an oil minister and his overbearing entourage

Equatorial Guinea's petroleum minister Gabriel Obiang Lima, son to the man in power of the country since 1979, President Teodoro Obiang Nguema, has been able to seat his own influence through members of his family. [...]

EQUATORIAL GUINEA Energy 04/02/2020

Trident counts on French diplomacy to stay in the running for Zafiro

Trident Energy, the company headed by French national Jean-Michel Jacoulot, has not lost sight of its goal to expand its [...]

EQUATORIAL GUINEA Energy 21/01/2020

Zafiro: ExxonMobil reveals top picks to Gabriel Obiang

The American major has shortlisted three firms for the project to take over the country's largest oil field. [...]

Spotlight

EQUATORIAL GUINEA Energy 08/10/2019

ExxonMobil & Co: Trump worried about Obiang's thirst for oil independence

The American government's support of Teodoro Obiang Nguema's regime, in power since 1979, is being to waver. Malabo's handling of ExxonMobil and other American firms' interests and its desire to work more with European, Russian and Chinese firm are beginning [. [...]

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EQUATORIAL GUINEA Energy 23/07/2019

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Jean-Michel Jacoulot
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Noble Energy
Robert McClure
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Covid-19 fails to dampen ExxonMobil's push on Zafiro sale