Côte d'Ivoire has created PETROCI CI-26, a new subsidiary of PETROCI Holding, to develop the CI-26 oil block and its Espoir field near Jacqueville. This subsidiary now manages a field that was previously operated by the Canadian company CNR. The move is part of a broader strategy to increase the state's control over oil and gas resources and reduce reliance on foreign firms. Since 2012, President Alassane Ouattara has focused on developing the country’s hydrocarbon sector as a key part of economic growth. This has included updating the Petroleum Code and introducing a new Investment Code to attract domestic and foreign investment. Between 2011 and 2023, more than 1,200 billion CFA francs were invested in oil exploration, and over 4,500 billion CFA francs in oil production. In 2021, PETROCI Holding became fully state-owned, allowing the government to have direct control over oil operations rather than just receiving royalties. A new law promoting local content has also been introduced to support the development of a domestic industrial base for the oil industry. The discovery of the Baleine oil and gas field in 2021 and the Calao field in 2024 has greatly increased the country’s oil production. The Baleine field began producing oil in August 2023 and more than doubled national output, reaching an average of over 63,000 barrels per day in 2025. The government aims to increase production to 200,000 barrels per day by 2028, mainly through the third phase of the Baleine project, which is expected to raise output from that single field to 150,000 barrels per day. This growth has boosted public finances, with over 667 billion CFA francs in revenue from petroleum products in 2024. More than 90% of the oil produced is used domestically for electricity generation. The government’s stronger involvement in the oil sector is reflected in recent production sharing agreements, where PETROCI Holding initially holds a 10% stake, while foreign companies take on the financial risks of exploration. In July 2026, PETROCI Holding became the sole operator of the CI-26 block. On the Baleine field, the Italian company Eni transferred its shares to the Dutch firm Vitol in September 2025. A planned transfer of shares to the Azerbaijani company Socar, pending approval from the Ivorian government, would eventually increase PETROCI Holding’s stake to 22.75%. Côte d'Ivoire is also expanding its downstream oil sector, which includes refining and distributing petroleum products. The Ivorian Refining Company (SIR) began constructing a hydrodesulfurization complex in October 2025 with an investment of 545 billion CFA francs, aiming to produce international standard diesel by 2030. In early 2025, SIR signed an agreement with the American company Yaatra for a second refinery, with the goal of increasing its refining capacity from 3.8 to 10 million tons per year by 2030. Additionally, PETROCI Holding signed a ten-year lease for a 152,000 m³ floating regasification unit in Abidjan with CI-Energies and the Belgian firm Exmar. Côte d'Ivoire has chaired the Association of African Petroleum Producing Countries since January 2026, emphasizing local content in its energy policies. The country aims to become a net exporter of crude oil by 2030 and may eventually join OPEC, the Organization of the Petroleum Exporting Countries.