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Gabon: The barrel boosts budget revenue


By AJ.S  February 21, 2022 


Gabon's oil revenue forecasts for the year 2022 amount to 693.8 billion FCFA, indicates the document of the finance law.


This is an increase of 211.2 billion FCFA compared to the 2021 financial year, boosted by a sharp increase in production (+8%) and the runaway oil prices on the international market which are close to currently $100. 


The government intends to derive 151.1 billion FCFA in tax revenue from companies in the oil sector, i.e. 89.4 billion more than in 2021. 


Under various royalties, the Treasury has planned 542.7 billion FCFA in revenue, of which 63 billion in oil royalties and 56.6 billion from sharing contracts. These forecasts are up by 121.8 billion FCFA compared to the previous fiscal year. 


Gabon is recording a rather abundant start to the oil year, with major projects and actions announced in recent weeks  by operators such as Maurel & Prom , VAALCO Energy and Perenco. Canada's Canada Energy Partners Inc. is also in the running to operate a new offshore block.

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