At the end of the third quarter of this year, Glencore’s oil Production grew by 8% compared to the same period last year. It reached 13,330 against 12,260 barrels a day.
This improvement is attributable to an increase in production in Chad and the entry into production of the Bolongo block in Cameroon.
Over this period, production in Equatorial Guinea continued to decline from 1.38 million to about 1.3 million barrels. In Chad, production in the third quarter jumped from 654,000 to 884,000 barrels, an increase of 35%. In Cameroon, the Bolongo Block began producing at the beginning of the third quarter in deep waters east of the Rio del Rey. This, with about 2,400 barrels a day, or 216,000 in total, including 75,000 for Glencore.
The Cameroonian public oil company plans to increase production to 10,000 barrels per day in the coming months.
Glencore is one of the largest petroleum trading companies in the world. In 2018, it achieved a turnover of 220 billion dollars.
Source: Agence Ecofin
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