China’s Sinopec Group has hired BNP Paribas ( BNPP.PA ) to sell its oil business in Nigeria and Gabon, three people with knowledge of the matter said, as the state-owned Continue Reading
Shell is leaving parts of Africa behind as part of a divestment streak that followed its merger with BG Group. File photo by Mohammad Kheirkhah/UPI. March 24 (UPI) — As Continue Reading
Shell, Chinese partners, declare natural gas find off the coast of Gabon. UPI/Maryam Rahmanian THE HAGUE, Netherlands, Oct. 22 (UPI) — Shell announced Wednesday it made a substantial discovery of natural gas in the deep waters off the coast of the West African nation of Gabon. The company said it ran into a 656-net foot column of natural gas in its Leapord-1 frontier exploration well off the Gabonese coast. The well was drilled in water more than a mile deep into a basin trapped beneath a deep layer of submarine salt. "Shell and partners [at China National Offshore Oil Corp.] are planning to undertake an appraisal program to further determine the resource volumes," the company said in a statement. Gabon’s geological similarities to Brazil raised hopes for oil production among energy explorers, but so far the region has turned up mostly natural gas. Italian energy company Eni and Australian […]
