In a “win-win” agreement, Gabon has entered into a commitment with Venezuela. The two countries want to further strengthen and consolidate their cooperation in the oil sector. One of the largest oil producers and exporters around the world, Gabon, aims to draw inspiration in this sector from the experience of Venezuela, to make better use of black gold. Gabon, led by Ali Bongo Ondimba, meanwhile, produces around 200,000 barrels a day, but plans to expand and renew reserves by relaunching exploration. As a reminder, Venezuela is one of the founding members of the Organization of Petroleum Exporting Countries (OPEC), of which Gabon is a member.

Source: The North Africa Journal August 14, 2020 13:41 UTC