Assala Energy

Gabon
GOC boss struggles to raise $300m for Tullow Oil takeover

To purchase the British company's Gabonese assets, the state-owned company must find the financial means to complete the deal as quickly as possible.

Gabon
Assala Energy in trouble over oil exploration

Faced with an expected fall in production this year, Assala Energy will not be able to rely on exploration wells, three of which have dried up, according to an internal company document.

Gabon
GOC deal sparks storm at Gunvor

Stéphane Degenne, co-director of Gunvor's oil trading business, has just retired early. Several inside sources claim that his departure is linked to a 2024 contract with Gabon Oil Co, which the company denies.

Gabon
Perenco and GOC battle it out to buy Tullow Oil

The race to acquire Tullow's assets in Gabon has picked up pace and the staff of the state-owned Gabon Oil Co are now determined to come out on top.

Gabon
One year after GOC's takeover, Assala Energy still without management

The Gabonese state-owned company is struggling to attract managers to Assala Energy capable of handling the new assets acquired last year. Added to this is an expected fall in returns from these licences.

Gabon
Gabon Oil Company's costly delay after Assala acquisition

Investment in the oil assets operated by Assala Energy has been pared back to a bare minimum since their acquisition by the national oil company. It hasn't appointed management for its new subsidiary's London-based offices, and further delays could spell a drop in output.

Spotlight | Gabon
Gabon Oil Co faced with wave of departures at Assala Energy

Having succeeded in raising the necessary funds to buy Carlyle's oil assets, Libreville must now ensure production does not fall by recruiting personnel with the necessary skills.

Gabon
Vitol and Gunvor in running to help GOC secure Carlyle's assets

Having failed to reach an agreement with Vitol, the Gabonese government is once again listening to proposals from other traders to raise the billion dollars needed to buy back the licences held by the American investment fund.

Gabon
GOC changes advisers in quest to buy out Carlyle assets

The state-owned Gabon Oil Co recently reviewed its strategy to give itself a better chance of financing the pre-emption of the US investment firm's assets.

Gabon
Trader Gunvor takes a swing at GOC-Vitol agreement over Carlyle assets

Gunvor has offered $950m in an attempt to stymie the agreement between GOC and Vitol over Carlyle's assets. However, Vitol has also put a lot of money on the table.

Gabon
Vitol wants debt paid before helping GOC buy Carlyle's assets

Geneva-based trader Vitol is making a loan to enable the Gabon Oil Co to acquire Carlyle's Gabonese assets conditional on the repayment of a debt owed to Sogara.

Gabon
Savannah Energy joins the race for a share of Carlyle's oil assets

The company owned by British national Andrew Knott, along with half a dozen other oil companies, is positioning itself to profit from the sale of assets producing some 45,000 barrels per day.

Palace Intrigues
Brice Clotaire Oligui Nguema, Paul Biya, Patrice Talon, Andry Rajoelina

Intrigues big and small... Every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

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