AGP Executive Report

Energy & Oil Markets: VAALCO Energy reported stronger Q2 2026 results and guidance, including resumed production at the Baobab field offshore Côte d’Ivoire and a planned Q3 output rise; the company also declared a Q3 2026 dividend of $0.0625 per share payable Sept. 22. Maritime & Offshore Services: Mermaid Maritime says it has set up a formal U.S. corporate presence in Delaware to bid for Gulf of America offshore work, aiming to expand contracting and deployments. Crude Supply & Refining: Dangote Refinery is diversifying its crude feedstock, cutting Nigerian grades to 71% in July and adding barrels including Equatorial Guinea’s Lokele, as it keeps throughput high. Education & Compliance: WAEC announced 2026 CB-WASSCE results for candidates across Nigeria and selected schools in Equatorial Guinea, while withholding 167,486 results over alleged malpractice. Governance & Business Climate: A report revisits Equatorial Guinea’s long-ruling Obiang family grip, noting Teodorin Obiang’s role as vice president and the country’s oil-driven economy. Diplomacy & Skills: Rossotrudnichestvo says Russia is expanding education quotas for Equatorial Guinea students and highlights a Malabo Russian House for cultural events. Cybersecurity: INTERPOL warns AI is now linked to over half of Africa’s cybercrime, with rising losses—an issue for regional business and digital services.

Energy & Offshore Drilling: VAALCO Energy reported strong Q2 2026 results and guidance, including restarted production at the Baobab field offshore Côte d’Ivoire and ongoing drilling in offshore Gabon, underscoring continued activity across the region’s oil and gas basins. Oil & Feedstock Diversification: Kosmos Energy said it completed the sale of its interest in Equatorial Guinea’s Ceiba Field and Okume Complex, while Dangote Refinery’s crude slate shows Equatorial Guinea’s Lokele among non-Nigerian supplies used to keep throughput steady. Governance & Power: A report highlights Equatorial Guinea’s long-ruling presidency and the vice presidency role now held by Teodorin Nguema Obiang Mangue, pointing to the family’s continued grip on top offices. Education & Compliance: WAEC announced 2026 CB-WASSCE results, including withheld scores for 167,486 candidates over alleged malpractice—relevant for regional schooling systems that include Equatorial Guinea under the Nigerian curriculum. Skills & Training Links: Rossotrudnichestvo discussed expanded education quotas for Equatorial Guinea students in Russia, with interest noted in economics, infrastructure, IT, and industrial specialities. Maritime Services: Mermaid Maritime established a formal corporate presence in Delaware to bid for U.S. offshore work, signaling more competition for subsea and offshore contracts. Verification Watch: A viral claim about Yahya Jammeh’s supposed return to The Gambia from Equatorial Guinea was fact-checked and found unsupported.

Diplomacy & Human Rights: Amnesty International says the US “third country removals” deals—where deportees are sent to other countries for money or diplomatic benefits—include Equatorial Guinea among many African states, raising concerns about detention and access to lawyers. Oil & Gas (Equatorial Guinea link): Vaalco Energy reported strong Q2 2026 results and guidance, with the company also noting it completed the sale of its interest in the Ceiba Field and Okume Complex in Equatorial Guinea—while continuing offshore drilling activity in Gabon. Energy & Regional Trade: Kosmos Energy posted Q2 2026 results and highlighted LNG output from Greater Tortue Ahmeyim, alongside ongoing production ramp-ups. Education & Compliance: WAEC announced 2026 CB-WASSCE results with a 61.54% credit pass rate and withheld 167,486 results over alleged malpractice, citing phone use and organised cheating. Cybersecurity: INTERPOL says AI now drives over half of reported cybercrime in Africa, with losses rising sharply—underscoring the need for faster cross-border coordination. Education & Skills Exchange: Russia’s Rossotrudnichestvo discussed expanded university quotas and a Malabo-based partner “Russian House” with Equatorial Guinea’s ambassador.

Leadership & Governance: A new report revisits Equatorial Guinea’s long-running political dynasty, noting President Teodoro Obiang Nguema Mbasogo’s decades in power and the role of his son, Teodorin Obiang Nguema Mangue, as Vice President—widely seen as the heir. Education & Compliance: WAEC says Nigeria’s 2026 CB-WASSCE results show a 61.54% credit pass rate, but it withheld 167,486 results (8.59%) over alleged exam malpractice, including phone use and organised cheating. Oil & Feedstock Diversification: Dangote Refinery is shifting crude sourcing—July non-Nigerian grades rose as it imported Equatorial Guinea’s Lokele alongside Libya, Angola and Cameroon to keep throughput high. Offshore Energy Operations: VAALCO Energy provided an offshore Gabon drilling update, including production from the ETBNM-3 gas-supply well and progress on the ETSEM-3PH pilot/development plan. Energy/Industry Diplomacy: Rossotrudnichestvo and Equatorial Guinea’s ambassador discussed expanding education and cultural cooperation, including growing student quotas for Russia. Security & Digital Risk: INTERPOL reports AI now drives over half of African cybercrime, with losses rising to $484m—an industry risk for regional telecoms, finance and online services.

Education & Youth: WAEC has released the 2026 Computer-Based WASSCE results for school candidates, with 61.54% of Nigeria-based candidates (including selected schools in Benin, Côte d’Ivoire and Equatorial Guinea operating the Nigerian curriculum) earning credits in at least five subjects. Exam Integrity: WAEC also withheld 167,486 results (8.59%) over alleged malpractice, citing banned phone use in halls and organised cheating; affected candidates can seek redress via WAEC’s complaint website while investigations and sanctions proceed. Energy & Offshore Operations: VAALCO Energy reported progress on offshore Gabon drilling, including bringing the ETBNM-3 gas-supply well on production and starting the ETSEM-3PH pilot hole/development work on the SEENT platform. Cybersecurity: INTERPOL’s African Cyberthreat Assessment Report 2026 says AI is now linked to over half of reported cybercrime across Africa, with losses rising to $484 million, underscoring the need for faster cross-border action. Agriculture Funding: East Africa’s agrifood transformation faces a financing and execution gap, even as the EAC rolls out its 2026–2035 regional investment plan.

Oil & Gas Update: Kosmos Energy reported Q2 2026 results, including new Jubilee wells coming online and the completion of its sale of interests in Equatorial Guinea’s Ceiba Field and Okume Complex. Offshore Drilling: VAALCO Energy shared operational progress on offshore Gabon drilling, highlighting the ETBNM-3 gas-supply well placed on production and the start of the ETSEM-3PH pilot/development campaign—good signals for regional energy activity. Education & Skills (Equatorial Guinea): Russia’s Rossotrudnichestvo says applications for expanded university quotas for Equatorial Guineans are rising (306 to 632 after doubling), with interest concentrated in economics, infrastructure, IT and industrial specialities. Cybersecurity: INTERPOL’s African Cyberthreat Assessment Report 2026 says AI now drives over 55% of reported cybercrime across Africa, with losses rising to $484m—an issue for business and digital services. Agriculture Funding Watch: A regional EAC review warns that East Africa’s agrifood transformation is held back by financing shortfalls and weak budget execution, even after political commitments under CAADP.

Offshore Oil & Gas: VAALCO Energy updated operations in offshore Gabon, reporting production-ready results from the ETBNM-3 gas-supply well and the start of the ETSEM-3PH pilot hole and development work on the SEENT platform—aimed at boosting gas supply and cutting diesel costs for field operations. Equatorial Guinea Energy & Assets: Kosmos Energy said it completed the sale of its interest in the Ceiba Field and Okume Complex in Equatorial Guinea as part of its Q2 2026 results, alongside higher Jubilee output and continued LNG cargo lifts from Greater Tortue Ahmeyim. Education & Industrial Skills (Russia–Malabo): Rossotrudnichestvo’s head met Equatorial Guinea’s ambassador to Russia to expand university quotas and study tracks in economics, infrastructure, IT and industrial specialities, with a Malabo-based Russian House also set to broaden cultural and information activities. Cybersecurity Risk: INTERPOL’s African Cyberthreat Assessment Report 2026 warns that AI now drives over 55% of reported cybercrime across Africa, with losses rising to $484 million and legal frameworks lagging behind the technology.

Cybersecurity: INTERPOL says AI now powers more than half of Africa’s cybercrime, with losses doubling to $484m since 2024 as criminals automate phishing, ransomware, extortion and identity fraud. Education & Culture (Equatorial Guinea): Rossotrudnichestvo head Igor Chaika met Equatorial Guinea’s ambassador to Russia to expand university quotas, citing a jump in applications after quotas were doubled, and to grow Malabo’s Russian House cultural activities. Oil & Gas (Equatorial Guinea): Kosmos Energy reported Q2 2026 results and said it completed the sale of its Ceiba Field and Okume Complex interest in Equatorial Guinea, while Jubilee output and LNG cargoes continued to ramp. Regional Finance (CEMAC): A BEAC report highlights rising government borrowing needs across CEMAC, including Equatorial Guinea, with banks’ net claims on the public sector reaching CFA11.4tn by end-March 2026. Energy & Infrastructure: Cameroon and the U.S. discussed future water and energy projects, including grid expansion and mini-grids, alongside efforts to tackle electricity-sector debt. Industry/Trade: A week of coverage also pushed the agribusiness jobs agenda across Africa, linking value chains and investment to food-market growth.

CEMAC Finance Watch: New data from the Bank of Central African States shows governments are still soaking up most banking attention, with net claims on the public sector hitting CFA11.4 trillion by end-March 2026—83.5% of total credit to the wider economy—highlighting how public financing needs keep shaping lending across Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon and Congo. Market Liquidity Reality Check: In a separate BVMAC snapshot, a full trading session recorded just 107 shares worth FCFA 9.27 million and no bond trades, while banks in the monetary union sought FCFA 535.5 billion in refinancing—more than the FCFA 500 billion available—pointing to a mismatch between available resources and active market use. Equatorial Guinea Energy Link: Kosmos Energy reported it has completed the sale of its interest in the Ceiba Field and Okume Complex in Equatorial Guinea as part of its Q2 2026 results, alongside higher oil output and new Jubilee wells coming online. Policy & Jobs Push: A broader agribusiness push across Africa is framed as a jobs engine, with calls to scale value chains and cut food import dependence—an angle that matters for local industry planning in Equatorial Guinea.

Oil & Gas Update: Kosmos Energy reported Q2 2026 results with net income of $185m and net production of ~71,400 boe/d, plus progress at Jubilee and Greater Tortue Ahmeyim, and it completed the sale of its Ceiba Field and Okume Complex interests in Equatorial Guinea. Agribusiness & Jobs: A new push across Eastern and Southern Africa argues agribusiness is the fastest route to large-scale job creation, pointing to Africa’s rising food demand and the need for stronger value chains. Agriculture Finance in the Region: Former Togolese Agriculture Minister Noël Koutéra Bataka took up the IFAD Country Representative role in Burkina Faso, as IFAD expands rural development programs worth $461.7m since 1977. Energy Policy Debate: A wider discussion highlights how Africa’s energy shortfalls persist despite fossil-fuel wealth, framing it as a political choice tied to investment priorities. Regional Finance Pressure (CEMAC): BEAC data shows governments’ net claims on banks remain high across CEMAC, including Equatorial Guinea, reaching 83.5% of credit to the wider economy. Industry Watch: Vaalco scheduled its Q2 2026 earnings release for Aug 6 and confirmed its portfolio includes assets in Equatorial Guinea. Visa & Mobility: The U.S. ends routine visa processing at multiple African posts from Aug 1, redirecting applicants to regional hubs that include Malabo.

Oil & LNG Update: Kosmos Energy reported Q2 2026 net income of $185m and adjusted net income of $68m, with net production up ~12% to ~71,400 boepd; the company also said it completed the sale of its Ceiba Field and Okume Complex interests in Equatorial Guinea and expects Jubilee output to rise above 90,000 bopd after new wells come online. Regional Finance Pressure (CEMAC): A BEAC report says governments’ net claims on banks in CEMAC reached CFA11.4tn by end-March 2026 (83.5% of credit to the wider economy), highlighting how public financing needs keep shaping lending across Cameroon, CAR, Chad, Congo, Equatorial Guinea and Gabon. Industry & Trade Signals: A U.S. consular overhaul will end routine visa processing at 25 African posts from Aug 1, with applicants redirected to hubs including Malabo—relevant for business travel and logistics planning. Energy Policy Context: Commentary on Africa’s “energy curse” frames the lack of reliable power as a political choice, underscoring the policy backdrop for investment decisions in the region.

CEMAC Banking Exposure: BEAC says governments in the CEMAC bloc (including Equatorial Guinea) account for a big share of bank activity, with net claims on governments hitting CFA11.4 trillion (83.5% of credit to the wider economy) as public financing needs keep rising. Oil & Production Outlook: Vaalco Energy confirmed its Q2 2026 earnings release for Aug 6 and noted its production and development portfolio includes assets in Equatorial Guinea, keeping investor focus on regional upstream activity. Agri-Inputs Push: Nigeria’s Kaduna State Governor Uba Sani flagged off 500 truckloads of free fertiliser and tractors for 150,000 smallholder farmers across 23 local areas, marking the third straight year of support aimed at protecting cultivation and output. Energy Policy Debate: A Bloomberg piece argues Africa’s “energy curse” is a political choice, spotlighting why resource wealth hasn’t translated into reliable power—an issue that matters for industrial growth. Visa Operations Shift: The U.S. will end routine visa processing at 25 African posts from Aug 1, routing applicants to regional hubs including Malabo, which could affect business travel and logistics planning.

Visa & Mobility: The U.S. is ending routine visa processing at its Abuja post from Aug. 1, 2026, shifting Nigerian applicants to the U.S. Consulate General in Lagos as part of a wider Africa consular overhaul aimed at standardised screening and faster operations. Energy & Finance (Regional): A week of energy policy talk includes Cameroon and the U.S. discussing water and power investment, while Equatorial Guinea-linked investor news notes VAALCO Energy’s Q2 2026 earnings call set for Aug. 7. Public Sector Lending (CEMAC): New BEAC figures show governments’ net claims on banks in CEMAC hit CFA11.4 trillion (83.5% of credit to the economy), underlining how public financing needs shape regional banking, including Equatorial Guinea. Agribusiness Support (Nigeria, Spillover Interest): Kaduna State’s governor flagged off free fertiliser and tractors—500 truckloads for 150,000 smallholders—highlighting how input subsidies and rural productivity drives remain central to food security debates across the region. Maritime Compliance & Trade Risks: A report warns shadow fleets evade sanctions using fake websites impersonating African maritime registries, raising fraud and documentation risks for regional shipping and logistics.

Visa & Mobility: The U.S. is ending routine visa processing at its Abuja post from Aug 1, 2026, moving Nigerian applicants to the U.S. Consulate General in Lagos as part of a wider Africa consular overhaul. Energy & Power: A new push for water and energy investment is on the table after Cameroon’s minister met U.S. diplomats, with plans for major generation capacity growth and grid expansion. Oil & Gas (Equatorial Guinea link): VAALCO Energy set its Q2 2026 earnings release for Aug 6 and conference call for Aug 7; the company’s portfolio includes production assets across Equatorial Guinea. Agriculture & Inputs: Kaduna State’s Governor Uba Sani flagged off free fertiliser and tractors for 150,000 smallholder farmers (500 trucks) for the third straight year, aiming to protect cultivation amid rising costs. Food Security Funding Watch: ActionAid Nigeria warns agricultural capital spending is too low to meet CAADP targets, citing weak state performance in 2023–2025. Regional Finance (CEMAC): BEAC data shows governments remain heavily exposed in CEMAC banking, with net claims on public sector rising to CFA11.4 trillion by end-March 2026.

Oil & Gas (Equatorial Guinea): Vaalco Energy set its Q2 2026 earnings release for August 6 and a conference call for August 7, with the company listing production assets across Gabon, Egypt, Côte d’Ivoire and Equatorial Guinea. Visa & Mobility: The U.S. will stop routine visa processing at 25 African posts from August 1, routing applicants to regional hubs; for Nigeria, routine services move to the U.S. Consulate General in Lagos (instead of Abuja). Regional Finance (CEMAC): A BEAC report says governments’ net claims in CEMAC banking hit CFA 11.4 trillion (83.5% of credit to the rest of the economy), underscoring heavy public financing needs across Cameroon, Equatorial Guinea, Gabon and others. Agri-Food (Nigeria, regional relevance): ActionAid warns Nigeria’s agriculture capital spending is too low to meet CAADP targets, while Kaduna’s Uba Sani flags off free fertilizer and tractors for 150,000 smallholders. Sports (Equatorial Guinea link): WAFCON coverage notes Equatorial Guinea has won the tournament twice, but failed to qualify this time.

CEMAC Banking Exposure: BEAC says governments’ net claims on banks hit CFA11.4tn (83.5% of total credit to the economy) at end-March 2026, showing how public financing needs keep dominating lending across Cameroon, CAR, Chad, Congo, Equatorial Guinea and Gabon. Energy & Power Reliability: A major outage in Ghana again underlines how fragile grid supply remains, with GRIDCo citing transmission disruptions and trips—an industry warning for the wider region’s power reliability push. Oil & LNG Outlook: Cameroon’s growth outlook faces pressure as the Hilli Episeyo FLNG vessel is set to depart in July 2026, expected to cut LNG exports and weigh on the extractive sector. Agri Inputs at Scale: Nigeria’s Kaduna State flags off 500 trucks of free fertiliser and tractors for 150,000 smallholders, continuing a multi-year push to protect yields and rural livelihoods. Maritime Sanctions Evasion: A report warns Iranian and Russian “shadow fleets” use fake African maritime websites and documents to dodge sanctions, urging stronger registry oversight. Visa Operations: The US will end routine visa processing at 25 African posts from Aug 1, routing applicants to regional hubs including Malabo.