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Gabon Oil and Gas Downstream Market - Growth, Trends, and Forecasts (2023-2028)

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  • 90 Pages
  • April 2023
  • Region: Gabon
  • Mordor Intelligence
  • ID: 5025405
The Gabon oil and gas downstream market is expected to witness a CAGR of more than 0.11% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

Key Highlights

  • Over the long term, increasing consumption of petroleum products is expected to boost the demand for the market studied during the forecast period.
  • On the other hand, oil production has been reducing steeply over the past few years, which, in turn, is expected to hurt the refinery sector in the country in the future. The decreasing oil production in the country is expected to restrain the market in the forecast period, as it directly affects the throughput capacity of the refining sector in the country.
  • Nevertheless, an increase in demand for refined petroleum products in the country is expected to boost the demand for new refineries, which, in turn, is likely to create opportunities for the companies operating in the industry.

Gabon Oil & Gas Downstream Market Trends

Oil Refining Capacity Growth to Remain Stagnant

  • In 2021, no projects related to refineries were in the proposal stage, and only a few investments are expected in the refineries in the forecast period.
  • The Port Gentil Refinery has a crude oil distillation capacity of 24,000 b/d. The refinery operates below capacity, and its output fluctuates due to maintenance challenges at the aging facility. Gabon's economy is heavily dependent on its oil production. Moreover, adding a downstream vertical may make the oil and gas supply chain more profitable.
  • In November 2022, BW Energy's Hibiscus/Ruche development project off the coast of Gabon focused on the Hibiscus and Ruche fields, which are about 20 kilometers northwest of the Tortue field. In the first phase of this project, up to six horizontal production wells will be drilled as part of a 12-well phased program and connected to a production plant.
  • The refining capacity is expected to remain stagnant in the forecast period due to the decreasing oil production and lack of investment in the downstream infrastructure.

Decreasing Production of Oil to Restrain the Market

  • Gabon is a mature oil producer in West Africa that has been facing a declining output, for more than a decade.
  • Oil production in the country decreased by 12.7%, to 9 million tonnes in 2020, from 10.4 million tonnes in 2021. Most of the oilfields in the country have reached maturity. The downstream industry is suffering, as the decrease in crude oil production is below the utilization capacity of the refineries. However, an increase in oil production may lead to the installation of new refineries.
  • One of the most essential Gabon's crude oil blends is the Rabi, with an API gravity of 33.2, a high quality, low sulfur (0.14%) crude oil. The oil grade is of excellent quality and requires a low level of refining maintenance and equipment. The country exports 90% of its total crude oil production.
  • Hence, the Gabon oil and gas downstream market is expected to grow meagerly in the forecast period, due to a decrease in oil production and aging downstream facilities.

Gabon Oil & Gas Downstream Market Competitor Analysis

The Gabon oil and gas downstream market is consolidated. The major companies (not in particular order) include Total SA, Eni SpA, Perenco SA, Gabon Oil Company, and Engen Petroleum Ltd.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
4.1 Introduction
4.2 Refining Capacity Forecast, in thousand barrels per day, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5.1 By Refineries
5.1.1 Overview Existing Infrastructure Projects in Pipeline Upcoming Projects
5.2 By Petrochemicals Plants
5.2.1 Overview Existing Infrastructure Projects in Pipeline Upcoming Projects
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Total SA
6.3.2 Eni SpA
6.3.3 Gabon Oil Company
6.3.4 Perenco SA
6.3.5 Engen Petroleum Ltd

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Total SA
  • Eni SpA
  • Gabon Oil Company
  • Perenco SA
  • Engen Petroleum Ltd