BR100 Decreased By (-0.58%)
BR30 Decreased By (-1.26%)
KSE100 Decreased By (-0.5%)
KSE30 Decreased By (-0.47%)
AGHA 6.70 Increased By ▲ 0.02 (0.3%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 56.60 Decreased By ▼ -0.72 (-1.26%)
BOP 30.09 Decreased By ▼ -0.26 (-0.86%)
CNERGY 12.97 Decreased By ▼ -0.15 (-1.14%)
CSIL 5.32 Decreased By ▼ -0.09 (-1.66%)
FCCL 52.00 Decreased By ▼ -0.79 (-1.5%)
FFL 14.50 Decreased By ▼ -0.22 (-1.49%)
FNEL 1.17 Increased By ▲ 0.05 (4.46%)
KEL 6.10 Increased By ▲ 0.01 (0.16%)
KOSM 6.04 Increased By ▲ 0.31 (5.41%)
LOTCHEM 26.16 Decreased By ▼ -0.30 (-1.13%)
MLCF 91.50 Decreased By ▼ -1.66 (-1.78%)
NBP 163.89 Decreased By ▼ -0.77 (-0.47%)
NCPL 53.74 Decreased By ▼ -1.92 (-3.45%)
NPL 58.92 Decreased By ▼ -2.24 (-3.66%)
OGDC 314.50 Decreased By ▼ -2.23 (-0.7%)
PACE 9.82 Decreased By ▼ -0.05 (-0.51%)
PAEL 35.19 Decreased By ▼ -0.44 (-1.23%)
PIBTL 14.75 Increased By ▲ 0.07 (0.48%)
PPL 222.00 Decreased By ▼ -4.91 (-2.16%)
PRL 91.30 Decreased By ▼ -1.72 (-1.85%)
PTC 59.06 Decreased By ▼ -1.20 (-1.99%)
SSGC 23.20 Decreased By ▼ -0.61 (-2.56%)
TBL 8.75 No Change ▼ 0.00 (0%)
TELE 7.60 Decreased By ▼ -0.20 (-2.56%)
TPL 22.01 Decreased By ▼ -0.34 (-1.52%)
TPLP 12.58 Decreased By ▼ -0.39 (-3.01%)
TREET 21.81 Decreased By ▼ -0.35 (-1.58%)
TRG 56.25 Decreased By ▼ -0.31 (-0.55%)
Markets

Gabon oil refinery output to fall in 2014

Published Updated

imageLIBREVILLE: Production from Gabon's state-run oil refining company is set to fall by one third to 600,000 tonnes this year because of disruptions in the supply chain, oil minister Dieudonn? Ngoubou said on Friday.

The production slump at SOGARA has led to a shortage of fuel for domestic consumption and long lines at petrol stations.

"The problems that we have had in the last week are due to poor organization of the distribution chain," said Ngoubou, who added that gas stations would be replenished soon.

"We are forced to import 300,000 tonnes from Ivory Coast to meet the need." He referred to an estimate of imports from Ivory Coast in 2014. Gabon's domestic fuel needs were estimated at 900,000 tonnes per year in 2013.

"There is nothing. No more gasoline. Everything was emptied yesterday," said Laurent, a petrol pump attendant in the Arambo district near the centre of the capital.

State-run Gabon Oil Company plans to become involved in oil refining and has signed a contract with Samsung C&T to build a new 60,000 barrel per day refinery at Port-Gentil.

Gabon is sub-Saharan Africa's fifth-largest oil producer and pumps around 250,000 barrels per day. Oil accounts for around 50 percent of Gabon's gross domestic product and 80 percent of export earnings.

Comments

Comments are closed for this article.