AGP Executive Report
Last update: 11 hours agoOffshore Drilling: Transocean says Deepwater Conqueror has won a two-well contract with an unnamed operator in Equatorial Guinea, bringing new work to the country’s offshore sector. Kosmos Results: The company reported a third-quarter net loss of $43 million and production of about 69,200 barrels of oil equivalent a day, up 6% year on year; growth was 17% excluding Equatorial Guinea. Crude Demand: Chinese refiners have bought Equatorial Guinea’s Ceiba crude for December delivery as lower shipping costs make West African oil more attractive. Exploration: Chevron expects to raise exploration spending by as much as 50% in 2027 and has named Equatorial Guinea among possible areas for future activity. CEMAC Currency: Old CFA franc coins can no longer be used for payments from Nov. 1, but banks, microfinance institutions and the BEAC will exchange them through July 31, 2027.
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