Gabon

Two Gabon former ministers jailed for embezzlement

January 13, 2017 | Gabon, Government & Regulations

London, UK | — Gabon’s former oil minister Etienne Dieudonné Ngoubou was jailed on Thursday evening, a judicial source said, days after another ex-minister was incarcerated in an unprecedented anti-corruption crackdown. Ngoubou was being held in a Libreville prison following a hearing by an investigating judge over embezzlement of public funds, a prosecutor said. The minister left his office to a chorus of boos from staff on Tuesday, after being sacked from the post he had held since 2012. He was interrogated on Wednesday as …

Gabon sees 2016 growth at 3 pct, aims to cut reliance on oil

May 13, 2016 | Economy, Gabon

Kigali, Rwanda | –  Gabon expects its economy, which has been hit hard by the slide in world oil prices, to grow by 3 percent in 2016 and then pick up pace next year, its president told Reuters on Thursday. Ali Bongo, who is seeking another seven years in office in August, told Reuters he would speed up measures to diversify the economy away from oil if he secured a second term. Bongo, who won power in an election held after his father died in …

Former OPEC member Gabon wants to rejoin oil group

April 16, 2016 | Gabon, OPEC

London, UK | – The African nation of Gabon wants to rejoin Organization of the Petroleum Exporting Countries (OPEC) after more than two decades, two OPEC sources said, becoming the second former member in a year to seek a return to the oil exporters’ group just as it is taking the first steps in years to prop up prices. If it returned, Gabon would be the smallest producer in the OPEC and bring its ranks to 14 countries following last year’s return of Indonesia, which …

Gabon’s oil workers start strike, petrol queues appear

December 03, 2014 | Employment, Gabon

Libreville, Gabon | – Oil workers in Gabon began an open-ended, industry-wide strike on Monday night after talks with the government collapsed, union ONEP said, and long queues formed at gas stations on Tuesday on fear of shortages. The trade union had been in negotiations with authorities of the Central African country for several weeks, demanding the reinstatement of some workers who had been fired by oil companies, among other issues. “The national bureau informs you of the start of an unlimited general strike in …

Shell makes deep water gas discovery offshore Gabon

October 23, 2014 | Exploration / Discoveries, Gabon

London, UK | – Shell, in partnership with the Chinese state oil company, has made a new discovery in deep water offshore Gabon where the Leopard-1 well has found a significant 200 metre gas column. The well is located in over two kilometres of water, some 145kms from the coast. “This latest deep water discovery is a testament to the innovation of our explorers in pursuing new plays, and application of our global sub-surface expertise,” said Andy Brown, director of Shell Upstream International. He added: “Shell …

Petronas signs PSC for offshore block F14 in Southern Gabon

August 15, 2014 | Company Operations, Gabon

Libreville, Gabon | – Malaysia’s national oil and gas company Petroliam Nasional Berhad (Petronas), via its wholly owned subsidiary Petronas Carigali International E&P B.V., has signed a Production Sharing Contract (PSC) for Block F14 with the Republic of Gabon. The offshore block is located in southern Gabon and measures an approximate 965 square miles (2,500 square kilometres) surface area in water depth ranging from 6,561 feet to 9,842 feet (2,000 meters to 3,000 meters). Petronas will operate the block with an 80 percent interest, while …

Gabon signs offshore oil contracts with six companies

August 08, 2014 | Gabon, Licensing & Concessions

Libreville, Gabon | – Gabon’s oil ministry said on Friday it had signed seven oil contracts with six companies as part of an offshore licensing round expected to attract at least $1.1 billion in investment to the sector. The Central African country hopes that this tender, its tenth, will help it reverse a chronic decline in output due to maturing onshore fields. The former OPEC member currently pumps about 230,000 barrels per day, down from a peak of close to 400,000 bpd in the 1990s. …

Eni encounters gas, condensates offshore Gabon

August 05, 2014 | Exploration / Discoveries, Gabon

London, United Kingdom | – Italian energy major Eni has made a gas and condensates discovery in the Nyonie Deep exploration prospect located in Block D4 about 13 km (8 miles) from the coast of Gabon, according to a press release. Preliminary estimates suggest the new gas discovery is significant with initial potential in place estimated at 500 MMboe. The discovery was made in the presalt of Gabon through the NFW Nyonie Deep 1 well, which was drilled in 28 m (92 ft) of water depth …