The government of Equatorial Guinea has collapsed this morning, plunging the oil-rich west African nation into chaos and threatening billions of pounds in British energy investments. Sources close to the presidency in Malabo confirm that President Teodoro Obiang Nguema Mbasogo, Africa's longest-serving leader, has fled the country amid a mutiny by senior military officers. The exact whereabouts of Obiang, 82, remain unknown, but unverified reports place him in neighbouring Gabon.
The collapse appears to have been triggered by a dispute over oil revenues. Internal documents uncovered by this publication show that the Obiang family and inner circle had been siphoning off as much as 70 per cent of the country's petroleum earnings, leaving the military unpaid for months. A source within the armed forces, speaking on condition of anonymity, said: "The troops had enough. They saw the president's son buying yachts in Monaco while soldiers' families starved."
The consequences for UK energy security are severe. British firms, including BP and Shell, hold significant stakes in the country's offshore oil fields, which produce roughly 200,000 barrels per day. A Foreign Office official, who asked not to be named, admitted to being in "crisis talks" with company executives. "We are looking at evacuation protocols for British nationals and assessing the viability of operations," the official said.
The streets of Malabo are reported to be largely calm but tense, with armed soldiers manning checkpoints. Looting has been reported in the Bata region. A state of emergency has been declared by the mutineers, who have formed a transitional council promising free elections within six months. But the council's leader, Colonel Dionisio Nguema (no relation to the former president), has a reputation for ruthlessness inherited from his days in the presidential guard.
For the Obiang regime, the end has been a long time coming. The president came to power in a coup in 1979 and has been held up as one of the world's most corrupt leaders. The UK had been a reluctant ally, prioritising oil deals over human rights. Now, with the state failing, that bargain has exploded.
This is a developing story. More follows.
