For decades, Equatorial Guinea mattered to Western powers largely because of its oil. But the small Central African country is no longer the oil producer it once was. After reaching peak production in 2007, its oil production entered a steep decline as mature fields started to deplete. The sector’s changing environment has already reshaped Western companies’ involvement. 

For instance, in 2024, Exxon Mobil ended more than three decades of operations in the country and withdrew. Although Western commercial interest has declined, China has continued to strengthen its relationship with Malabo. Unlike the United States’s new policy on Africa, which centers on economic interests, China is taking a broader approach, vowing to help Equatorial Guinea diversify its economy and build its public health system.