During 2021, Asia is positioned as the main destination for oil produced in Gabon. Out of a total of 65.9 million barrels of oil exported for a value of 2555.8 billion FCFA, China, India and South Korea alone captured 60%. The information is contained in the 2021 EITI report (Extractive Industries Transparency Initiative) published a few days ago and disclosed by Gabonese print media.
Indeed, the three countries bought in Gabon in 2021, more than 40.5 million barrels of oil worth 1584.5 billion FCFA at the rate of 806.3 billion FCFA (31.6%) for China, 430.1 billion FCFA (17%) for India and 347.9 billion FCFA (12.7%) for South Korea.
The three Asian countries are followed by Australia which imported oil from Gabon worth 211.2 billion FCFA and from Indonesia (160.8 billion FCFA). In this ranking of the main buyers of Gabonese oil, the first European country comes in 6th place . This is Italy, followed by Spain. Holland and France come in 9th and 10th position respectively. Gabonese oil exports to these four European countries represented only 15.6% of the quantity sold internationally in 2021.
However, according to the 2021 EITI report, Gabon’s hydrocarbon exports are down by 8.52% between 2020 and 2021. They are 65.99 million bbl in 2021 (i.e. 2,555.8 billion FCFA in value) against 72.14 25 million bbl in 2020.
