Africa > Central Africa > Equatorial guinea > Petroleum / Mining

Petroleum / Mining in Equatorial guinea

  • Africa rejects Europe's 'dirty diesel'

    BOTSWANA, 2017/05/04 Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1. Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year. The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.
  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • Equatorial Guinea Expands Scope of Major Crude Oil and Petroleum Tank Farm Project

    EQUATORIAL GUINEA, 2015/10/31 The Ministry of Mines, Industry and Energy, representing the Government of Equatorial Guinea, announced today that it has signed a Memorandum of Considerate with three companies to build a crude oil and petroleum products storage tank farm on Bioko Island, Equatorial Guinea. In an expansion of the previous project plan, the Bioko Oil Terminal will incorporate a significant all of crude oil storage space, inclunding storage for associated petroleum products. It will serve the Gulf of Guinea region and facilitate processing and export to consumers regionally and globally. The MoU establishes the terms of cooperation part the Ministry and the three companies. The Ministry of Mines, Industry and Energy of Equatorial Guinea, Taleveras Group, Gunvor Group and the Strategic Fuel Fund will jointly participate in the Bioko Oil Terminal development. The tank farm will be operated by the Strategic Fuel Fund, which operates Saldanha Bay in South Africa, one of the world’s major petroleum storage facilities.
  • Petrochemicals & Mining

    EQUATORIAL GUINEA, 2014/02/07 Equatorial Guinea is the top oil supplier for the CEMAC region and the third major supplier for all of Africa. According to the BP Statistical Review of World Energy, Equatorial Guinea has 1.7 billion barrels of proven oil reserves and a reserve to production ratio of 16.5. Revenue from this oil industry has enabled substantial increase over the last decade. Presently, Equatorial Guinea is moving to develop its entire petrochemical price chain and is working with the private sector to create a highly developed and vertically integrated domestic industry. But even with Equatorial Guinea’s tremendous successes in the oil industry over the last decade, areas remain to be explored in detail. Further, large volumes of gas provide considerable prospects for next growth
  • Gabriel Mbega Obiang Lima, Deputy Minister of Mines, Industry, and Energy

    EQUATORIAL GUINEA, 2013/12/10
  • Global gas consumption to increase by 4% in 2013

    BOTSWANA, 2012/12/25 World gas request is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is estimate to reach 890.3 bcm in 2013, equivalent to 25.7% of world request. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%),