AGP Executive Report
Last update: 8 hours agoOffshore Activity: Transocean says its Deepwater Conqueror has won a two-well contract with an undisclosed operator in Equatorial Guinea. Oil and Gas: Kosmos Energy reported third-quarter production of about 69,200 barrels of oil equivalent per day, up 6% year over year; growth would have been 17% excluding Equatorial Guinea, pointing to weaker output there. Crude Exports: Chinese refiners have turned to West African oil as shipping costs ease, including Equatorial Guinea’s Ceiba crude. Exploration: Chevron expects Equatorial Guinea to be among its exploration targets as it considers raising spending by 50% in 2027. Regional Finance: The $5 billion Africa Energy Bank has formally launched in Abuja to finance energy projects, as African producers face an estimated $200 billion investment need. CFA Currency: Old coin series lost legal tender status across CEMAC, including Equatorial Guinea, on November 1; holders can exchange them at banks and BEAC counters through July 2027, and at BEAC counters through October 2027.
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