Trafigura Group Proposes $2 Billion Loan to Boost Equatorial Guinea's Hydrocarbon Sector

Trafigura Group has proposed a $2 billion loan to Equatorial Guinea to advance its hydrocarbon sector. Vice President Teodoro Nguema Obiang Mangue announced that a memorandum of understanding will be signed soon. The goal is to achieve a mutually beneficial agreement to boost the country's oil activities.

Trafigura Group has offered a $2 billion loan to Equatorial Guinea with the aim of developing the nation's hydrocarbon industry, according to a statement made by Vice President Teodoro Nguema Obiang Mangue on Wednesday.

The Vice President confirmed that a memorandum of understanding would be signed shortly, describing the anticipated agreement as a collaborative step toward revamping the country’s oil sector.

‘The idea is to channel joint work before reaching the win-win agreement that we intend to sign to relaunch oil activities in the country,’ he added in his announcement on X.