Gabon : TotalEnergies EP makes a net profit of FCFA 13.5 billion in the 1st quarter of 2023

Internal sources indicate that TotalEnergies EP Gabon made a net profit of 13.5 billion FCFA, or $22 million, in the 1st quarter of 2023. This represents a very slight increase on the $21 million recorded in 2022.

During the period under review, sales totalled FCFA 64.3 billion, or $105 million, down 44% on the $188 million recorded in the first quarter of 2022.

This underperformance is attributable to the fall in the average selling price for the grade of crude oil marketed, as well as the decline in volumes sold as a result of a less favourable offtake programme.