AGP Executive Report
Last update: 10 hours agoGovernment Shake-Up: Equatorial Guinea’s entire cabinet has resigned after a performance review found it delivered only about 10% of set targets, with officials citing corruption, delays in development projects, and weak economic diversification; Prime Minister Manuel Osa Nsue Nsua submitted the resignation and President Teodoro Obiang Nguema Mbasogo is expected to appoint a new cabinet. Oil & Gas Deal: Kosmos Energy has completed the sale of its non-operating interests in Block G offshore Equatorial Guinea to Panoro Energy after CEMAC clearance, with a final cash payment of about $127m and possible contingent payments tied to Ceiba field output and oil-price thresholds. Maritime & Trade Rules: An ITLOS ruling in the M/T Heroic Idun (No. 2) case awarded the highest-ever damages against Equatorial Guinea, highlighting limits on anti-piracy detention powers and the need for legitimate grounds. Regional Business Context: CEMAC data show cocoa export prices fell sharply, with cocoa driving a broader drop in agricultural export prices across member states that include Equatorial Guinea. Diplomacy & Risk: Egypt extended National Day congratulations to Equatorial Guinea, underscoring ongoing cooperation in energy and infrastructure.
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