Africa Monitor

Africa Monitor Intelligence

Equatorial Guinea: Obiang Lima Bets on Downstream

TEODORO OBIANG Government's campaigns to attract foreign investment have failed and the inability to attract investors is particularly visible in the hydrocarbon sector, given its importance to the country's GDP, despite the continuous drop in production for several years. The depletion of reserves and the lack of investors to explore new blocks were aggravated by the limitation of production decreed by OPEC, and by the beginning of 2021 production had already fallen 17% compared to the previous year. READ MORE