Equatorial Guinea''s Strategic Move: Acquiring Energy Storage
Summary: Equatorial Guinea has recently acquired a leading energy storage battery company, signaling its commitment to renewable energy integration. This article explores the implications
The Hydrocarbons Law and the National Content Regulation establish various requirements for international oil and gas companies that wish to operate in Equatorial Guinea. These include a minority partner stake for either the state oil company (GE Petrol) or the state gas company (Sonagas).
In 2022, the country produced less than 100,000 barrels of oil per day (bopd) according to OPEC data. Electricity consumption in Equatorial Guinea in 2015 was 36 kilotonnes of oil equivalent (ktoe). The country produces all of the energy it consumes.
Electricity consumption in Equatorial Guinea in 2015 was 36 kilotonnes of oil equivalent (ktoe). The country produces all of the energy it consumes. As of 2012, renewable energy accounted for 29.2% of the final energy mix.
Discovery of oil in the 1990s resulted in rapid economic growth by the late 2000s. Growth has slowed as several operational oil fields have matured and are now in decline. Equatorial Guinea is among the world's lowest ranking countries in various global indices, including those for corruption, transparency, and ease of doing business.
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