• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 37 mins Could oil demand collapse rapidly? Yup, sure could.
  • 8 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 5 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 1 hour What If Canada Had Wind and Not Oilsands?
  • 4 hours WE Solutions plans to print cars
  • 3 hours Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
  • 4 hours Oil prices going down
  • 9 hours Nopec Sherman act legislation
  • 15 hours Sabotage at Tesla
  • 8 hours Sell out now or hold on?
  • 13 hours China & India in talks to form anti-OPEC
  • 3 hours Australia mulls LNG import
  • 11 hours The Irrelevance Of BTU Rating - Big Oil's Gimmick To Hoodwink The Public
  • 11 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 3 hours Oil and Trade War
  • 10 hours Trump Hits China With Tariffs On $50 Billion Of Goods
The Last Oil Frontier In The Gulf Of Mexico

The Last Oil Frontier In The Gulf Of Mexico

The potential of the U.S.…

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

The United States has overtaken…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Equatorial Guinea in P.R. Push to Improve Image

Reuters published a profile of Equatorial Guinea on March 10 that details the efforts of Equatorial Guinea to improve how it is viewed by the outside world. The kleptocratic and reclusive government, often synonymous with the “resource curse,” has hired Richard Attias & Associates, a Madison Avenue-based public relations firm, to clean up the country’s image. The Manhattan PR company specializes in helping African leaders “build their global influence.”

Equatorial Guinea is Africa’s third largest producer of energy, and has Africa’s highest GDP per capita. Those numbers hide the fact that the country’s people have not significantly benefited from oil exports. Instead, millions of dollars flow to the country’s corrupt elite. President Teodoro Obiang Nguema has presided over this pilfering, and his playboy son Teodorin has been the subject of corruption charges in the United States. Now Obiang says Equatorial Guinea is undergoing major reforms and he declared that Equatorial Guinea is “open for business” in a variety of sectors beyond oil and gas.

Related Article: Africa Energy Advisory

Obiang is seeking investors for mining (“we have gold, diamonds, coltan, bauxite”), farming, petrochemicals, tourism and finance. He hopes to increase transparency and put in place reforms that improve the country’s business climate. Obiang wants to join the Extractive Industries Transparency Initiative, which sets standards for resource extraction countries, and gives approval for countries managing their resources well. Equatorial Guinea was already denied EITI certification in 2010.

Some think that Obiang’s attempts at reform are mere publicity. “I'm sure something's changing, I just don't know how deep that change is going to be” Jon Shields, IMF Mission Chief for Equatorial Guinea, told Reuters.” Other critics were blunter. “I don't see it, I think's it's PR,” said Ken Hurwitz, an anti-corruption expert with the Open Society Justice Initiative.

President Obiang hosted a symposium in February in Equatorial Guinea’s capital, Malabo, in an effort to present the country in a new light.

By James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News