Gabon’s new oil regime threatened by power vacuum
The west African Opec member has moved fast to revise offshore licencing terms as it makes more blocks available
Gabon has unveiled a new licensing round, along with a set of eye-catching contract terms designed to lure back explorers that largely shunned the country's offshore in the era of low oil prices. But the timing of a new hydrocarbons code that would establish those terms could be delayed by parliamentary hurdles and a presidential power vacuum. The government needs the licensing round, which covers 23 deepwater and 11 shallow water blocks, to be a success if the country is to have a chance of offsetting production declines from existing fields. But it has yet to be presented to parliament and President Ali Bongo Ondimba has been in Saudi Arabia, recovering from an undisclosed illness. The
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
