With only weeks to go before renewal of the Guinean state's main fuel supply contract, several international traders stepped up their approaches in Conakry. Despite this intense diplomatic and commercial activity, the contract was ultimately extended with incumbent Oryx Energies, a subsidiary of Addax Oryx Group (AOG), and the challengers failed to displace it.
According to consistent reports, several major oil traders attempted to position themselves with the Guinean authorities in late 2025 and early 2026. Among them, Saudi company Aramco Trading made a discreet approach, with executives received by Lanciné Condé, managing director of the National Petroleum Company (SONAP). Representatives of ADNOC from the United Arab Emirates and Swiss trader Mocoh were also reported in the capital, alongside other participants such as Sahara Group, which had previously held the contract before it was terminated in April 2024.
This flurry of activity comes at a particularly sensitive time. Oryx Energies' initial contract, awarded on an emergency basis in May 2024 for two years, was due to expire in April 2026. It had been concluded following the December 2023 explosion at the Kaloum fuel depot, which plunged the country into a severe supply crisis and led to the early termination of Sahara Group's contract.
Meanwhile, Guinea continues to rely on a temporary arrangement established by Turkish group Albayrak to ensure storage and supply. The authorities are also considering building two new fuel depots north and south of Conakry, in less densely populated port areas, to improve safety and national storage capacity.
At Oryx Energies, continuity is maintained by local figures such as distribution head Moussa Diao and close oversight by Olivier Lassagne, an experienced group executive. Retaining the contract allows the Guinean state to preserve a degree of short-term supply stability, while fuel prices remain a sensitive issue for the population.
For the unsuccessful traders, this latest setback is probably only temporary. Guinea's market, although modest in volume, remains strategic in West Africa and attracts major traders seeking to diversify their positions on the continent. Observers expect negotiations to resume soon ahead of the next renewal, anticipated in six to twelve months depending on the precise terms of the extension.
The presidency highlights “the priority given to continuity of supply and price stability for Guineans”.
This latest episode once again illustrates the intense competition surrounding oil contracts in Africa, where geopolitical interests involving Saudi Arabia, the Emirates, Turkey and Switzerland intersect with economic and national security considerations.