Energy in Gabon comes from two main sources, fossil-fuels and hydroelectricity. Gabon also relies heavily on oil for its export revenues, exporting both crude oil and petroleum. In terms its oil reserves, the country is one of the richest in sub-Sharan Africa, ranking 5th after Nigeria, Angola, Sudan, South Sudan, and Uganda. Renewable energy in the form of solar power is virtually nonexistent. Gabon is among Africa’s biggest crude oil producers. However, the country aims to diversify its economy by further developing its agriculture, fisheries, technology, and ecotourism sectors. Gabon’s total electricity production in 2015 was 199 kilotonne of oil equivalent, with 51.7% produced from hydropower sources and 48.2% from fossil fuels. The country’s final consumption of electricity was 169 ktoe. As of 2014, 15% of rural areas had electricity. The country aims to provide electricity to 85% of rural areas by 2025 and universal access to electricity by 2035.
Oil
, a former OPEC member that rejoined in 2016, is the sixth-largest oil producer in sub-Saharan Africa, and has the region's fifth-largest oil reserves. Oil prospecting began in 1931. Deposits were found on the coast or off shore in the vicinity of Libreville, northwestern Gabon and Port-Gentil, along the coast and in the southwestern part of the country. Larger deposits were found in the south. Oil from the northwest is channeled by pipeline to Cape Lopez, where there are loading facilities for export. Additional deposits were found on Mandji Island in 1962. The Rabi Kounga oil field, operated by Shell Gabon, is Gabon's largest oil field. In 1997, it produced a peak of. As of November 2004, it was producing. The first national oil company was the Société Nationale Petrolière Gabonaise but it was disbanded in 1987. The government of Gabon controls all petroleum and mineral rights within the state. In 2011 a presidential decree created the Gabon Oil Company. This new entity works in partnership with international companies operating in Gabon and operates two fields: Obangue and Remboue.
Petroleum
Although Gabon's proven petroleum reserves rose from in 1996 to in 2004, the government is concerned about long-term depletion of resources. Total production of crude oil fell from a peak of day to an estimated in 2003. Gabon's production goes primarily to Argentina, Brazil, France, the United States, and, more recently, Taiwan. Net oil exports in 2003 are estimated at 289,680 barrels per day. As of January 2004, reserves of natural gas reserves estimated at, by the Oil & Gas Journal. Production and consumption of natural gas in 2002 were estimated at, each. Gross output stood at in 2002, of which was flared or vented off, and was reinjected.
