The Equatorial Guinean government announced on Friday 16 October fines of one billion CFA francs against Total GE and 500 million against Tradex over delays in acquiring and transporting fuel. These sanctions come amid a new supply crisis, according to a report from the vice-presidency.
The measures were presented on Thursday 15 October in Malabo by Vice-President Nguema Obiang Mangue, at a meeting with the country's three distributors. The government plans in parallel to invest 20 million dollars to strengthen the commercial activity and supplies of Gepetrol Servicios.
This announced support is intended in particular to allow Gepetrol to recover tanks currently leased to other companies. The stated aim is to increase its purchasing and storage capacity in order to build reserves covering three to six months of demand.
For now, the vice-presidency has asked companies to make their available reserves available on the market while awaiting the cargoes scheduled for this week and next. It recommends that residents limit their travel to essential journeys while distribution is restored.
The distributors had cited difficulties with financial transfers to pay their suppliers and lengthy bank guarantee procedures, at a first meeting chaired on 13 October by Prime Minister Manuel Osa Nsue Nsua. He had tasked the Finance and Treasury services with examining these obstacles.