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Monday, 16 June 2014

Gabon oil refinery production falls by one-third to 600,000 bpd

Production from Gabon's state-run oil refining company has fallen by one third to 600,000 barrels per day (bpd) this year because of disruptions in the supply chain, oil minister Dieudonné Ngoubou said on Friday.
The production slump at SOGARA has led to a shortage of fuel for domestic consumption and long queues at petrol stations.
"The problems that we have had in the last week are due to poor organization of the distribution chain," said Ngoubou, who added that gas stations would be replenished soon. "We are forced to import 300,000 barrels from Ivory Coast to meet the need."
Gabon's domestic fuel needs were estimated at 900,000 bpd in 2013.
"There is nothing. No more gasoline. Everything was emptied yesterday," said Laurent, a petrol pump attendant in the Arambo district near the centre of the capital.
State-run Gabon Oil Company plans to become involved in oil refining and has signed a contract with Samsung C&T to build a new 60,000 barrel per day refinery at Port-Gentil.

Gabon is sub-Saharan Africa's fifth-largest oil producer and pumps around 250,000 barrels per day. Oil accounts for around 50 percent of Gabon's gross domestic product and 80 percent of export earnings.

Source: Reuters