Gabon has produced 41 million barrels (3%) of oil to the 1 st half of 2020. This improvement is the result of an improvement in mature fields and Simba field performance. Exports and prices, however, declined, under the effect of the Covid-19 crisis.
According to the conjuncture report just published by the General Directorate of Economy and Fiscal Policy, at the end of June 2020, national crude oil production in Gabon appreciated by 3% compared to the same period in 2019. , to stand at 5.6 million metric tonnes (41.01 million barrels), informs Le Nouveau Gabon .
“ The improved yields of mature fields and the good performance of the Simba field explain this improvement. Conversely, exports fell 6.4% to 5.15 million metric tons, due to the drop in global demand, in connection with the coronavirus pandemic and the barrier measures taken by governments to curb its spread. », Explains the Directorate General of the Economy.
As far as destinations are concerned, Asia remains the main destination for Gabonese crude, with 77% of national exports.
Average crude prices reached $ 39.72 per barrel for Brent and $ 37.28 per barrel for the basket of Gabonese crudes. These levels represent respective declines of 39.8% and 43.1% year-on-year.
According to the General Directorate of the Economy, the fall in prices is linked to the slowdown in world demand, accentuated by the paralysis of transport.
