Search

Gabon’s Oil Production Drops 11 Percent in Second Quarter

Allen dreyfus Logo
© Allen Dreyfus
  • Production setbacks followed five consecutive quarters of growth
  • Gabon’s economic reliance on oil raises concerns about the impact of declining output

Gabon’s oil production dropped by 10.8% in the second quarter of 2024, following five consecutive quarters of growth, according to the Ministry of Finance. Operational incidents among the country’s five leading operators contributed to the decline.

In March 2024, a technical incident on the Becuna oil platform, operated by Franco-British company Perenco Oil & Gas, resulted in the deaths of five workers and led to a production halt. A fire broke out during a workover operation, causing fatalities and injuries before operations were restored.

You need an active subscription to continue reading this article.

Recent Business

marek-studzinski-Dzzs2EFckLk-unsplash
Can diaspora bonds plug Africa’s financing gap?
Read More »
junior-samson-ZY0eI-L-FBc-unsplash
World Bank flags debt risk despite Benin’s rapid growth
Read More »
pexels-langford-kwabena-2841822-28075371
Ghana signals rate cut as inflation hits three-year low
Read More »

Recent Politics

emmanuel-ikwuegbu-T4q6ZPpYjog-unsplash
Tinubu seeks to win back north at Buhari’s funeral
Read More »
pexels-ninthgrid-2149521550-30688912
Nigeria inflation falls again, raising rate cut hopes
Read More »
ivan-bandura-D5kMHGxgZMI-unsplash
Barrick vows to fight Mali gold seizure through legal channels
Read More »

Latest Posts

Latest news insights