Market Size of Equatorial Guinea Oil and Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Equatorial Guinea Oil & Gas Downstream Market Analysis
The market for Equatorial Guinea's oil and gas downstream market is expected to register a CAGR of more than 2.1% during the forecast period, 2020-2025. Factors, such as the increasing gas production, government's push to invest in the refineries, and new findings of oil fields, are expected to boost the demand for the Equatorial Guinea oil and gas downstream market during the forecast period. However, Equatorial Guinea has been facing declining oil production and fiscal pressure because of the sustained decline in oil prices.
- Petrochemical plants in the country, in 2019, include only a methanol plant. No new investment proposal has been made, and the sector is expected to remain stagnant in the forecast period.
- Equatorial Guinea had negligible refining capacity, but the government has been pushing for setting up of refineries in the country to reduce its dependence from imports of refined crude oil. This may act as an opportunity for companies in the industry.
- The downstream indsutry in the country is much smaller in comparison to the upstream and midstream sector. The downstream industry in the country is at a nascent stage. As new investment is expected to be made in the refining sector, it is possible that the downstream industry may witness a substantial growth.
