Central bank holds key to Gabon’s oil future
If oil companies are forced to hold revenues in the local currency—combined with mandated Opec cuts—the Central African country will struggle to attract the new investment it desires
A revised hydrocarbons code has cut taxes on Gabon’s oil industry, but foreign firms warn these reforms will count for little unless the regional central bank waters down plans to impose harsh new currency rules. Six countries including Opec members Gabon and Equatorial Guinea are part of the Central African Economic and Monetary Community (Cemac) and use the Central African franc, which is governed by the Bank of Central African States (BEAC). The central bank’s new regulations would require companies to retain their revenues, which must be denominated in francs, at banks within the Cemac region. This would force firms to exchange dollar-denominated revenues into francs, incurring exchange
Also in this section
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
