Equatorial Guinea

EITI Status Other

Status of Equatorial Guinea

Equatorial Guinea is not a member of the EITI.

The country was delisted from the EITI in 2010. It had asked for an extension of the Validation deadline. The reasons brought forward for granting an extension were not deemed sufficient, so the Board did not agree to grant Equatorial Guinea an extension. Peter Eigen sent a letter to the President conveying the Board's decision.

Extractive industries

In the past decade, Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and has become Sub-Saharan Africa's third largest oil exporter. It is estimated that the country exported 319,100 bbl/day of crude oil (2011 est.) and 5.26 billion cu m of natural gas (2010 estimate) (source: CIA world factbook).