TotalEnergies EP Gabon has just published its financial results for the 2022 financial year. FCFA), against $ 33 million (20 billion FCFA) for the 2021 financial year. The Gabonese subsidiary of the French giant thus multiplied by more than 10 its profit over the period.

This significant financial gain was recorded thanks in particular to the increase in the average price of crude sold by the company, the reduction in operating costs and depreciation which compensated for the drop in turnover. It stood at $521 million (316.5 billion FCFA) against $655 million (397.9 billion FCFA) for the 2021 financial year.

“  This change reflects the decrease in crude volumes sold by TotalEnergies EP Gabon as well as the lack of income from processing and storage services following the sale of the Cap Lopez oil terminal, partially offset by the increase in the average selling price on the period  ”, indicates Total Gabon.

Indeed, TotalEnergies sold its stakes in seven mature fields offshore. The company also had to stop production for 19 days following an incident at the Cap Lopez oil terminal. This had an impact on production. The share of crude oil production linked to TotalEnergies EP Gabon’s holdings fell by 31%. It went from 22.9 kb/d in 2021 to 15.8 thousand barrels per day (kb/d) in 2022.

With this increase in net income, the board of directors proposes to pay a dividend of 22.22 dollars per share, or $100 million (60 billion FCFA) for all shareholders. TotalEnergies EP Gabon is 58.28% owned by TotalEnergies, 25% by the State of Gabon and 16.72% by the public. This should make a financial inflow of 15 billion FCFA for the State of Gabon.