• Loan repaid via crude deliveries over seven years

• Declining oil output underscores reliance on petroleum revenues

Gabon is using future oil revenues to raise $1 billion. Swiss trader Trafigura said on Wednesday, April 15, that it had signed a pre-financing agreement with the Gabonese state for that amount. The deal includes the immediate disbursement of funds, to be repaid through crude oil deliveries over seven years.

Trafigura said the financing will be repaid through cargoes from Gabon’s share of production, known as “profit oil.” It will act as the exclusive buyer of these volumes, sourced from several permits operated by different companies, for the duration of the contract.

To support a diversified production base, the company also said it has launched a syndication process to share part of the financing with international financial institutions. It did not disclose the institutions involved. The structure is intended to diversify funding sources.

“The Republic welcomes the return of Trafigura to Gabon and thanks the company for this agreement, which aims to make better use of the country’s oil resources, strengthen the central bank’s foreign exchange reserves, and support proactive treasury management,” said Thierry Minko, Gabon’s minister of economy, finance, debt and state participations.

The World Bank said in a report published in September 2025 that the country’s oil production is declining. Output fell by 2.1% in 2025 and could drop by as much as 5.8% in 2026 due to aging oil fields. In an updated country note, Coface confirmed this trend, highlighting the impact of mature assets on economic prospects.

Data from the Lloyds Bank Trade portal covering the 2024-2026 period show that oil accounts for between 40% and 50% of tax revenues and about one-third of gross domestic product.

Abdel-Latif Boureima