Gabon is planning to take assets back from three international oil companies, including a subsidiary of China’s Sinopec, in a sign of Africa’s growing assertiveness amid growing competition for its natural resources.
The move will exacerbate tensions over a lack of clarity in the terms and conditions of investment in Gabon as the country prepares to launch a licensing round for the deep waters off its coast.
Experts say reserves in the Gabon Basin could rival deep offshore discoveries in Brazil.
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