Equatorial Guinea has given the executives of Gepetrol Servicios forty-eight hours to present a plan to make the state-owned company the sole official distributor of fuel in the country, the vice-presidency announced on Wednesday, 21 October. The decision follows the third supply crisis recorded since January.
The project has not yet taken effect. According to information published by the government and cross-checked by Sika Finance, Malabo wants to place Gepetrol at the centre of purchasing and distribution, so that other operators and partners in the subregion can source supplies from the state-owned company.
The ministry in charge of hydrocarbons and Gepetrol must first analyse the volumes consumed over the past five years. The authorities also plan to take back storage capacity currently leased from Tradex, increase purchases and build new facilities, before a national refinery project.
This new step goes beyond the sanctions announced on 16 October against the two private distributors. TotalEnergies Equatorial Guinea was fined one billion CFA francs and Tradex 500 million CFA francs for delays in acquiring and delivering petroleum products.
The operators announced 49,000 tonnes of deliveries between October and December, including 15,000 tonnes for Tradex, according to Sika Finance. However, the government has set neither an effective date for the new arrangement nor a licence withdrawal for existing private networks.