Gabon: primary sector production in varieties in the first quarter of 2021

Gabon: primary sector production in varieties in the first quarter of 2021

According to the Minister of Economy and Recovery of Gabon, through the "note de conjoncture", the production of crude oil recorded a decline of 10.6% in the first quarter of the year 2021 compared to the same period in 2020. The country is down by 2.49 million metric tons of crude oil compared to 2.78 million metric tons produced in the previous year. In contrast to manganese production, Gabon is growing at a rate of 4.8% in the first quarter of 2021.

Drop in production, yet a rising price

In terms of oil production, the drop is explained by the application of OPEC (Organization of Petroleum Exporting Countries) quotas imposed since the second quarter of 2020 and the effects of COVID-19. Gabon has experienced an increasing curve since 2018 until 2020. Between 2018 and 2019, oil exploitation increased from 2.371 million metric tons to 2.... Lire la suite

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