AGP Executive Report
Last update: 11 hours agoOffshore Drilling: Transocean’s Deepwater Conqueror won a two-well contract with an undisclosed operator in Equatorial Guinea, adding work to a fleet backlog of about $8 billion. Oil Markets: Chinese refiners have bought Equatorial Guinea’s Ceiba crude as easing freight costs make West African supplies more attractive. Exploration: Chevron says Equatorial Guinea is among the areas it may add to its exploration portfolio as it plans to raise exploration spending by more than $500 million in 2027. Energy Finance: The new $5 billion Africa Energy Bank aims to fund projects across the oil and gas value chain, as the continent faces an estimated $200 billion in energy investment needs. CEMAC Currency: Old CFA franc coins stopped being legal tender across the region, including Equatorial Guinea, on November 1. Holders can exchange them at banks, microfinance institutions or BEAC counters through July 31, 2027; BEAC alone will handle exchanges until October 31.
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