51.4% increase in SOGARA’s turnover in the 1st quarter of 2022, inspite of the drop in profits

(Agence Ecofin) – La Société gabonaise de raffinage, the only refinery in the country, recorded a turnover of 132.3 billion FCFA in the initial quarter of 2022. This is an boost of 51.4% compared to 87.3 billions of FCFA built in the similar interval in 2021. According to the Ministry of Financial system, this maximize was pushed by “ the boost in the price of petroleum goods for industrial buyers“.

Nevertheless, SOGARA’s efficiency is declining all round, with in specific a quantity of processed crude oil dropping 10.6% to 219,497 tons, in relationship with the scarce supply of crude oil (Rabi), according to the ministry. This led to an maximize in imports of refined goods (+ 39.8%) as a palliative to fulfill community demand.

Equally, on a industrial amount, gross sales of refined petroleum goods have all diminished, both equally on the domestic and international marketplaces. This is the case in unique of butane (-67.5%), kerosene (-60%), super (-27%), diesel (-33.3%) and atmospheric residue (-34.4%).

These final results, To describeNew Gabonare recorded in a context in which the Gabonese authorities have fully commited to the IMF to have out an audit of SOGARA by the end of June 2023. According to the institution, it is a dilemma of assessing the profitability of the state-managed oil firm .

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