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Gabon Oil Production Unlikely to be Impacted by Coup

OIL

Despite the political instability caused by the recent military coup in Gabon, oil production is unlikely to be affected, according to Oilnow citing Platts.

  • According to Platts’ industry sources, the military generals behind the coup have no plans to disrupt oil fields or production.
  • Early indications suggest that the country’s new leaders are prioritising continuity of production, Oilnow said.
  • Platts cautioned that while experts predict a cautious approach from the new leaders vis a vis business relations in the short term, economic interference can increase over time.
  • Military officers seized power Aug. 30 following the electoral commission’s declaration that long-serving President Ali Bongo had won a third term.
  • Gabon, a member of OPEC, exports around 200k b/d of oil. Its oil reserves are thought to be around 2m bbl.
Energy BulletsCommodities
Energy BulletsCommodities

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