The turnover of Total Gabon reduced from 1,813 billion U.S. dollars in 2013 to 1,538 billion dollars in 2014, a 15 percent drop, the company said in a statement issued on Monday.
In the statement, Total Gabon attributed the reduction to the drop in the buying price of oil on the international market.
In 2014, the average price of a barrel of crude oil was 99 dollars, a 9 percent drop when compared to 109 dollars in 2013.
Regarding the company’s daily output, it recorded a slight increase from 46,900 barrels per day in 2013 to 47,000 barrels per day in 2014.
Oil which is Gabon’s main source of revenue, supports about 60 percent of the country’s budget. Total Gabon which is a subsidiary of the French company, Total, is the main oil producer in the country. Enditem