AGP Executive Report
Last update: 10 hours agoAfCFTA Trade Push: AfCFTA’s Secretary-General Wamkele Mene wrapped up a high-level visit to Gabon (18–19 June), sealing an implementation partnership aimed at turning Gabon’s industrial and export potential into real access to the continental market. Oil & Gas Deal Timing: Europa Oil & Gas extended the longstop for its EG-08 farm-out completion to 31 July 2026, pending final regulatory approval in China, as preparations continue for Barracuda-1 drilling in early 2027. Block G Ownership Shift: Kosmos Energy completed its sale of Block G interests in Equatorial Guinea to Panoro Energy, with final cash of about $127m and potential contingent payments up to ~$40m, while Panoro targets the next crude lifting at the start of July. Government Shake-Up: Equatorial Guinea’s entire government resigned after a performance review, with the ruling party citing corruption, misuse of state resources, and weak economic diversification, saying execution reached barely 10% of set objectives. Maritime Accountability: An ITLOS ruling in the M/T Heroic Idun (No. 2) case awarded the highest-ever fine and damages, highlighting limits on anti-piracy detention powers and crew treatment under UNCLOS. Forestry Skills Funding: AFD and RIFFEAC signed €5m (CFA 3.3bn) for ADEFAC 2, extending continuing training in forestry and wood-processing to include Equatorial Guinea. Agriculture Prices Watch: CEMAC data showed cocoa export prices fell 24.6% in the review period, dragging agricultural export prices across Equatorial Guinea and peers.
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