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The New Gabon ) – At the end of March 2018, Gabon's oil production decreased by 10.7% to 2.4 million tons or 17.41 million tons barrels. The natural decline of mature fields, the maintenance of OPEC quotas at -9000 barrels / day, as well as maintenance shutdowns, explain this decline in production according to the Ministry of the Environment. Economy.
"However, exports rose 3.2% to 2.39 million metric tonnes." ensures the ministry of the Economy in its note of conjuncture. The main destinations for Gabonese crude remain Asia and the Pacific, at 82%.
With regard to prices, during the first quarter, the price of Brent rose sharply by 24.1% to $ 66.76
In this context, the average price of the Gabonese crudes basket was up 27.8% from 2017, to reach $ 65.51 per barrel.
As for revenues, they are down 24.7% year-on-year. They stand at CFAF 95 billion at March 31, 2018 against CFAF 126.2 billion in 2017, at the same time.
The decline in oil production combined with the depreciation of the dollar exchange rate against the CFA franc which closed at 533 FCFA at the end of March, despite the increase in the price of oil on international markets, explain this decline in revenue.
On a revised annual forecast of 698.3 billion FCFA, 13, 6% of oil revenues were collected in the first quarter.
PcA
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