With just a few weeks to go before the renewal of the Guinean government's main fuel supply contract, several international traders have stepped up their efforts in Conakry. Despite this intense diplomatic and commercial activity, the contract was ultimately extended with the incumbent operator Oryx Energies, a subsidiary of the Addax Oryx Group (AOG), with the challengers failing to gain ground.
According to corroborating information, several major players in the oil trade attempted to position themselves with the Guinean authorities in late 2025 and early 2026. Among them, the Saudi company Aramco Trading made a discreet approach, with executives being received by Lanciné Condé, Director General of the National Petroleum Company (SONAP). Representatives from ADNOC (United Arab Emirates) and Swiss trader Mocoh were also reported to have been in the capital, alongside other players such as Sahara Group, which previously managed the contract before its termination in April 2024.
This "ballet" is taking place in a particularly sensitive context. Oryx Energies' initial contract, awarded on an emergency basis in May 2024 for a period of two years, was due to expire in April 2026. It had been concluded after the explosion at the Kaloum fuel depot in December 2023, which plunged the country into a serious supply crisis and led to the early termination of the Sahara Group contract.
At the same time, Guinea continues to rely on a temporary solution put in place by the Turkish group Albayrak to ensure the country's storage and supply. The authorities are also considering the construction of two new fuel depots, located north and south of Conakry, in less densely populated port areas, in order to improve security and national storage capacity.
At Oryx Energies, continuity is ensured by local figures such as Moussa Diao, head of distribution, and close monitoring by Olivier Lassagne, an experienced executive within the group. Maintaining the contract allows the Guinean government to preserve a certain stability in supplies in the short term, while fuel prices remain a sensitive issue for the population.
For the ousted traders, this latest setback is likely only temporary. The Guinean market, although modest in volume, remains strategic in West Africa and attracts trading giants seeking to diversify their positions on the continent. Observers expect negotiations to resume quickly ahead of the next renewal, scheduled in six to twelve months depending on the exact terms of the extension.
The Presidency emphasises "the priority given to continuity of supply and price stability for Guineans".
This latest episode once again illustrates the fierce competition surrounding oil contracts in Africa, where geopolitical issues (Saudi Arabia, the Emirates, Turkey, Switzerland) are intertwined with economic and national security considerations.