Equatorial Guinea

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The US government says it is seeking to recover assets worth more $70m (£44m) from the son of the president of Equatorial Guinea.Teodoro Nguema Obiang Mangue is accused of using his ministerial position to plunder his nation's wealth. His US assets include a Gulfstream jet, yachts, cars and Michael Jackson memorabilia. Most residents of Equatorial Guinea live below the poverty line, despite the country's vast oil revenues. Last month, France seized 11 luxury cars belonging to Mr Obiang, who is known as Teodorín in his home country where he currently serves as minister of agriculture.

BBC Report 2011

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Analysis

Analysis:

PROFILE: Equatorial Guinea

 

Driven by oil, the country’s GDP thus recorded on average an annual growth of 60 per cent between 1993 and 2012. Arising out of an increase in oil production and more recently in gas production, and out of the surge in the price per barrel, growth has led to a rapid rise in gross national income per capita, estimated at US$21,715 in PPP terms according to the most recent figures from 2011. Many offshore oil companies are active in Equatorial Guinea, foremost amongst them are American companies ExxonMobil, Marathon, Amerada Hess, Chevron-Texaco. The state has issued exploration permits to non-American companies including China Petroleum and & Chemical Corporation (China), Petrobras (Brazil), Repsol (Spain), Atlas Petroleum (Nigeria) and Petronas (Malaysia). This diversification has given the country an opportunity to have different technologies to facilitate better exploitation of its energy sources. 

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Profile

Profile:

PROFILE: Equatorial Guinea

- Timeline

- Political structure

- Population,

- Education  

- Health

- Welfare

- Main cities

- Languages spoken

- Media

- Economy

- Agriculture

- Industry and manufacturing

- Tourism

- Mining,

- Hydrocarbons

- Energy

- Financial markets

- Banking and insurance

- Time

- Geography

- Climate

- Dress codes

- Entry requirements

- Health (for visitors)

- Hotels

- Credit cards

- Public holidays

- Working hours

- Telecommunications

- Electricity

- Social customs and useful tips

- Security

- Getting there

- Getting about

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Key Facts

Key Facts:

Key Facts
Official name: República de Guinea Ecuatorial (Republic of Equatorial Guinea)
Head of State: President Teodoro Obiang Nguema Mbasogo (PDGE) (since 1979)
Head of government: Prime Minister Vicente Ehate Tomi (from 21 May 2012)
Ruling party: Partido Democrático de Guinea Ecuatorial (PDGE) (Democratic Party of Equatorial Guinea) (from 1993; re-elected 4 May 2008)
Area: 28,051 square km
Population: 778,000 (2014)*
Capital: Malabo
Official language: Spanish and French
Currency: CFA franc (CFAf) = 100 centimes (Communauté Financière Africaine (African Financial Community) franc)
Exchange rate: CFAf586.44 per US$ (Sep 2015)
GDP per capita: US$18,389 (2014)*
GDP real growth: -3.11% (2014)*
GDP: US$14.31 billion (2014)*
Inflation: 3.00% (2014)*
Oil production: 281,000 bpd (2014)
* estimated figure
















 

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