AGP Executive Report
Last update: 16 minutes agoOffshore Drilling: Transocean says the Deepwater Conqueror won a two-well contract with an undisclosed operator in Equatorial Guinea, adding work to its offshore fleet. Oil Production: Kosmos Energy reported third-quarter production of about 69,200 barrels of oil equivalent per day, up 6% year on year; growth would have been 17% excluding Equatorial Guinea, where output weighed on the increase. Crude Exports: Chinese refiners have bought Equatorial Guinea’s Ceiba crude as easing freight rates make West African oil more attractive, though shipping costs remain high. Trade and Investment: At the Russia–Africa summit, Vladimir Putin said Equatorial Guinea and Russia could expand trade and pursue joint projects in energy and mining, and called for an intergovernmental commission to revive lagging economic ties. Shipping Costs: CMA CGM’s peak-season surcharge on China–Equatorial Guinea shipments adds $350 per 20-foot container and $700 per 40-foot container.
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