Equatorial Guinea. Prime Minister Miguel Abia Biteo
Borico resigned in August with his entire government after
being criticized by President Teodoro Obiang Nguema for
incompetence and corruption. He was replaced by former
Deputy Prime Minister Ricardo Mangue Obama Nfubea, a lawyer
with long government experience. Nfubea became the first
Prime Minister of Equatorial Guinea's largest ethnic group,
fang. Since the country's independence in 1968, Equatorial
Guinea has been governed almost exclusively by the Nguema
family, who belong to an ethnic minority.
CountryAAH, China made its first break into Equatorial Guinea's
expanding oil market when the state-owned company CNOOC
bought into an offshore oil field. So far, oil recovery in
Equatorial Guinea has been largely dominated by US
companies. China also granted a loan of approximately SEK 15
billion for infrastructure expansion.
Equatorial Guinea and neighboring Gabon, with the
mediation of the UN, launched an attempt to resolve, through
negotiations, a conflict over the border crossing in a
potentially oil-rich part of the Gulf of Guinea.