Browsing: Equatorial Guinea

The Republic of Equatorial Guinea is a nation on the African continent’s western coast.

Trading economics’ global macro models and experts’ forecasts indicate Equatorial Guinea’s GDP could reach $12.6 billion by the end of 2022. As such, the long-term trend for the GDP of Equatorial Guinea is anticipated to be about $13 billion by 2023.

Historically, the economy of Equatorial Guinea relied on three commodities: cocoa, coffee, and lumber. However, the discovery and exploitation of petroleum and natural gas in the 1980s radically altered the country’s economic character. As a result, more than four-fifths of Equatorial Guinea’s GDP currently derives from petroleum exports. Nevertheless, the majority of people’s level of living has not changed considerably, and farming remains the predominant source of income.

Nevertheless, the Equatoguinean domestic economy is small, with an estimated population of 1.2 million, despite the country’s membership in the Central African Monetary and Economic Union (CEMAC) sub-region, which comprises more than 50 million people. Notably, the region has a central …

Nigeria to export gas through Equatorial Guinea.

The Nigerian Minister also praised Equatorial Guinea, saying that the Western African country has a massive record of world-class gas processing and liquefaction infrastructure already in Punta Europa and allocating investment funds for development.

Minister Obiang Lima said that Equatorial Guinea was in line to be an essential player in the African energy market.

“New, fast, and competitive sources will be a major determinant of success,” he said. “This strategic collaboration breaks down geographical boundaries and allows gas delivery from Nigeria to Equatorial Guinea’s Punta Europa facilities, extending their life and providing access to the regional and global energy markets.”

Through the agreement, the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners will put into monetary use gas that would have otherwise been stranded offshore due to the absence of infrastructure.…

  • The interactive and networking event is expected to unite African and Global energy stakeholders.
  • With over 1.5 trillion cubic feet of natural reserves, Equatorial Guinea represents one of the continent’s biggest hydrocarbon markets.
  • The AEC is a strong advocate for the continent, and through AEW 2021, has emphasized Africa’s position in global energy dialogue

The Equatorial Guinea’s Ministry of Mines and Hydrocarbon has all reason to smile as they gear up preparations to represent the country as the diamond sponsor at the high-profile African Energy Week 2021.

In a press statement sent to the newsroom, the African Energy Chamber (AEC) confirmed that the country’s Ministry of Mines and Hydrocarbon’s (MMH) will be the diamond’s sponsor.

The highly anticipated 4-day event of the African Energy week (AEW)2021 will take place in Cape Town, South Africa between the dates of 9th-12th this month.

The interactive and networking event is expected to …

900 cracked phone

FurtherAfricaAfrica has some of the most expensive mobile data services in Africa. With the increase in connectivity via smartphones, people in emerging markets can use their portable devices for more things each passing day. Most of us have a smartphone with mobile data that we can carry anywhere and as soon as we step home we switch to our Wi-Fi not to overuse our mobile data; which is most of the time unfairly overcharged.

However some people do not have the privilege to afford both mobile data and internet at home, so they opt for the more expensive but more portable mobile data. Everyday, people in emerging African countries are forced to take this decision and are sometimes charged the most expensive prices in the world for mobile data. What is important to know also is the dependency and impact of smartphones in lower income communities.

With a difficulty in …

Equatorial Guinea launches Year of Investment 2020 Campaign

Equatorial Guinea has kicked off a year of long investment 2020 campaign aimed at driving capital investment into the country’s bankable projects.

In 2020, major United State firms have pledged to increase their investment in Equatorial Guinea along with Nigerian banking and financial institutions. The notable projects which are ready for investments include the construction of two modular oil refineries, a urea plant, an ammonia plant and a gold refinery.

The first investment event to be hosted in the country will be the Africa Oil & Investment Forum & Exhibition hosted in Malabo from April 1st to 2nd.

Also Read: Equatorial Commercial Bank to Introduce Agency Banking

The country’s Ministry of Mines and Hydrocarbons (MMH) officially launched its Year of Investment campaign, with commitments from a series of foreign investors to increasing planned investment in the country in 2020.
Equatorial Guinea’s objective is to engage with financial entities and engines …

Equatorial Guinea open capital-intensive projects for investment in 2020

Equatorial Guinea capital-intensive projects open for investment in 2020 said Gabriel Obiang, minister for mines and hydrocarbons.

The capital- intensive projects include the construction of three oil refineries, liquefied petroleum gas strategic tanks, a Urea plant and the expansion of a compressed natural gas project.

Obiang said the 10 public-private, partnership-led projects will focus on downstream diversification and adding value to domestic crude production.

“2019 was a year in which we showed the world the potential of Equatorial Guinea. That was phase one. Phase two is the investment year. For many years, we have been exploiting our resources and exporting them, but now is the time that we get to the stage of processing,” he said during the sidelines of an international forum for gas exporting countries in the capital Malabo.

Also Read: Tanzania 3rd Oil and Gas Congress: How Magufuli is opening up Energy Investment

He added that midstream …