April 27, 2020 / 5:33 PM / in 2 months

RPT-Virtually all Equatorial Guinea oil business on hold -hydrocarbons minister

(Repeats to attach to corrected alert.)

LAGOS, April 27 (Reuters) - Virtually all oil and gas projects and licensing rounds are on hold in Equatorial Guinea as the country braces for an extended oil downturn because of the coronavirus pandemic, the country’s hydrocarbons minister said on Monday.

Equatorial Guinea, a tiny west African nation that relies on oil and gas for 90% of state revenue, had already been grappling with falling output and the desire of certain oil majors, such as ExxonMobil, to exit the country. (Reporting by Libby George Editing by David Goodman)

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