Total Gabon results in 2008 reached 381 million U.S. dollars, up to 14% 2007 results which reached 334 million U.S. dollars.
Total Gabon is the 1st oil operator in Gabon. The environment of the oil industry has been very mixed in 2008. After reaching a peak in mid-year to nearly 150 U.S. dollars per barrel, the price of the Brent has fallen sharply during the second half to finish the year at $ 35 U.S. a barrel, its lowest level since several years. On average, it stood at 97.3 dollars a barrel over the year and 55.5 US dollars per barrel in the fourth quarter.
According to the press release "the production of crude oil carried by Total Gabon, has reached 76.5 thousand barrels per day (kb /d) against 81.5 Kb/d in 2007, an increase of 6%.
The share of crude oil production due to investments by Total Gabon reached 60.3 kb/d in 2008 against 64.2 Kb/d in 2007. This represents approximately 26% of the whole production of Gabonese crude oil. "
The turnover amounted to 1772 million U.S. dollars, up 22% compared to 2007, the decrease in quantities sold were more than offset by appreciation in the price of crude marketed by Total Gabon in 2008 (average price : U.S. $ 89.4/b in 2008 against U.S. $ 66.7/b in 2007).
For Total Gabon, the overall cash flow was 735 million U.S. dollars in 2008 against 560 million U.S. dollars in 2007.
Because of this results, the Board of Directors decided to propose to the Annual General Meeting, convened on 5 June 2009, the distribution of a dividend of 22.5 U.S. $ per share, or 101.25 million U.S. dollars for all the shareholders.
Total Gabon ’s headquarter is based in Port-Gentil (Second city of Gabon ). The capital is 76.5 million U.S. dollars.
Gabon is a small oil country ruled since 1967 by Omar Bongo Ondimba, 73, Africa ’s longest-serving leader.
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