On April 15, 2026, global commodities trader Trafigura announced the signing of a USD 1 billion oil prepayment agreement with the Republic of Gabon.
This is an oil-backed financing agreement where Trafigura provides upfront cash to Gabon, which is then repaid over a seven-year period through the delivery of crude oil.
Trafigura acts as the exclusive buyer of Gabon’s “profit oil”—the state’s share of production after companies recover costs—for the duration of the seven-year contract.
Gabon aims to use the funds to strengthen public finances, boost foreign exchange reserves, invest in development programs, and address social needs.
The crude oil will be sourced from a diversified pool of assets and operators currently under production sharing contracts in Gabon.
Trafigura has initiated a syndication process to share part of the financing exposure with international financial institutions.
The deal is part of a growing trend of oil-backed financing in Africa, allowing resource-rich nations to secure immediate liquidity at a time of elevated global oil prices.
Note by Alessandro Bazzoni