THE GABONESE REPUBLIC: PETROLEUM EXPLORATION CONTINUES AS OIL BECOMES COUNTRY'S MOST IMPORTANT MINERAL PRODUCT.

Record ID: 344647

  • Title: THE GABONESE REPUBLIC: PETROLEUM EXPLORATION CONTINUES AS OIL BECOMES COUNTRY'S MOST IMPORTANT MINERAL PRODUCT.
  • Date: 17th April 1975
  • Summary: 1. AV Port Gentil AV Oil derricks at sea PAN TO oil outlet burning waste (2 shots) 0.11 3. GV Oil tankers lying off-shore (2 shots) 0.34 4. AV Oil storage tank 0.48 5. AV Oil storage tanks with name on tank "Elf Gabon" 1.01 6. AV Flying over Port Dentil 1.15 Initials BB/1930 NC/AW/BB/1935 Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 2nd May 1975 13:00
  • Keywords:
  • Location: PORT GENTIL, THE GABONESE REPUBLIC
  • Country: Gabon
  • Reuters ID: LVA6GBKDPRFB5AOBFRKH1VHLAF0Z
  • Story Text: The economic capital of the Gabonese Republic is situated at Port Gentil 100 miles (160 kms) to the south west of the political capital at Libreville. It is there that the country's oil industry is based.

    Oil was first discovered in 1957 but it is only in the last eight years that the country has become a major producer of crude oil in quantity.

    In 1973 the country produced 7.6 million tonnes of crude. Most of it was exported except for a proportion which is refined in the refinery at Port Gentil for local use and sale to members of the Customs and Economic Union of Central Africa.

    Of this, off-shore production accounts for a growing proration--currently two-fifths. Exports, amounting to about 85 per cent of production, were valued at 24,000 million france CFA (GBP43 million sterling) (including taxes) in 1972. A number of important new deposited have been discovered in the last few years and prospecting continues. The known reserves are also increasing and are currently put at about 100 million tons.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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