Identifier
Created
Classification
Origin
07LIBREVILLE229
2007-05-15 16:34:00
UNCLASSIFIED
Embassy Libreville
how-toVZCZCXRO5850 RR RUEHBZ RUEHMA DE RUEHLC #0229 1351634 ZNR UUUUU ZZH R 151634Z MAY 07 FM AMEMBASSY LIBREVILLE TO RUEHC/SECSTATE WASHDC 9715 INFO RUEHUJA/AMEMBASSY ABUJA 0400 RUEHMA/AMEMBASSY MALABO RUEHBZ/AMEMBASSY BRAZZAVILLE 0853 RUEHKI/AMEMBASSY KINSHASA 1388 RUEHLO/AMEMBASSY LONDON 0351 RUEHLU/AMEMBASSY LUANDA 0964 RUEHNJ/AMEMBASSY NDJAMENA 0435 RUEHFR/AMEMBASSY PARIS 0892 RUEHYD/AMEMBASSY YAOUNDE 0809 RUEHOS/AMCONSUL LAGOS 0660 RHMFIUU/HQ USEUCOM VAIHINGEN GE RHMFIUU/COMUSNAVEUR NAPLES IT
UNCLAS LIBREVILLE 000229
SIPDIS
SIPDIS
E.O. 12958: N/A
TAGS: PGOV EINV EPET GB LY
SUBJECT: GABON ECONOMIC MISCELLANY
UNCLAS LIBREVILLE 000229
SIPDIS
SIPDIS
E.O. 12958: N/A
TAGS: PGOV EINV EPET GB LY
SUBJECT: GABON ECONOMIC MISCELLANY
1. LIBYAN INVESTMENT. There has recently been a flurry of
Libyan investment in Gabon. Libreville's Intercontinental
Hotel (the largest hotel in town) has been purchased by a
Libyan company for 20 million dollars. Other purchases
include the Dialogue Hotel (a vacant hotel on prime
beachfront property which is to be torn down for
apartments/shops),Africa No. 1 (a radio station which
broadcasts to francophone Africa) and the Mobil Oil
distribution network (bought by Tamoil).
2. NEW OIL FIND. Perenco Oil on May 12 announced that
drilling has resulted in a new find at 1870 meters in waters
off Ogooue-Maritime. There is as yet no estimate regarding
the extent of the find. Perenco (a partner with Amerada
Hess) is currently producing 48,000 barrels per day from
other wells.
3. BREAD PRICES REMAIN FIXED. Gabon's Office for Consumption
and Control has refused a request by bakers to raise the
fixed price for a loaf of bread by 20%. A baguette still
costs approximately 25 US cents -- there has been no price
change since 1989.
4. ELECTRICITY INVESTMENT. SEEG, the Gabonese water and
electricity utility, reports that it invested $62 million in
2006 and plans $80 million in new investments for 2007. When
Libreville experienced rolling blackouts last February
(something previously unknown in Gabon),critics accused SEEG
of failing to invest in new capacity to meet the rising
demand for electricity.
WALKLEY
SIPDIS
SIPDIS
E.O. 12958: N/A
TAGS: PGOV EINV EPET GB LY
SUBJECT: GABON ECONOMIC MISCELLANY
1. LIBYAN INVESTMENT. There has recently been a flurry of
Libyan investment in Gabon. Libreville's Intercontinental
Hotel (the largest hotel in town) has been purchased by a
Libyan company for 20 million dollars. Other purchases
include the Dialogue Hotel (a vacant hotel on prime
beachfront property which is to be torn down for
apartments/shops),Africa No. 1 (a radio station which
broadcasts to francophone Africa) and the Mobil Oil
distribution network (bought by Tamoil).
2. NEW OIL FIND. Perenco Oil on May 12 announced that
drilling has resulted in a new find at 1870 meters in waters
off Ogooue-Maritime. There is as yet no estimate regarding
the extent of the find. Perenco (a partner with Amerada
Hess) is currently producing 48,000 barrels per day from
other wells.
3. BREAD PRICES REMAIN FIXED. Gabon's Office for Consumption
and Control has refused a request by bakers to raise the
fixed price for a loaf of bread by 20%. A baguette still
costs approximately 25 US cents -- there has been no price
change since 1989.
4. ELECTRICITY INVESTMENT. SEEG, the Gabonese water and
electricity utility, reports that it invested $62 million in
2006 and plans $80 million in new investments for 2007. When
Libreville experienced rolling blackouts last February
(something previously unknown in Gabon),critics accused SEEG
of failing to invest in new capacity to meet the rising
demand for electricity.
WALKLEY