AGP Executive Report
Last update: 6 hours agoRegional Integration: ECCAS chair Teodoro Obiang is urging member states to cut trade barriers and speed up cooperation, with the bloc’s 2026–2030 roadmap focused on peace, trade, infrastructure and development. Oil Sector: The government plans to approve a new hydrocarbons law after crude output fell to 20,000 barrels a day in September from about 140,000 in 2020. The law would offer more flexible contract terms to attract drilling and exploration. Economic Outlook: The IMF expects the economy to contract 1.7% in 2026 and 1% in 2027, following a projected 5.8% decline in 2025. Energy Cooperation: Equatorial Guinea joined eight African national oil companies in signing a declaration to expand energy trade, coordinate development and grow refining capacity. Currency: Older CEMAC coin series lose legal-tender status on November 1; holders can exchange them through October 2027. Gas Investment: Chevron expects first gas from the Aseng project in 2028, with a development well planned for next year.
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