Gabon Oil Minister: Government to reclaim assets from Sinopec

6/5/2013

Gabon Oil Minister: Government to reclaim assets from Sinopec

LIBREVILLE -- Gabon's oil minister, Etienne Ngoubou, said that in 2015, the government will reclaim the main onshore site of Sinopec Corp. unit Addax Petroleum, the Financial Times reported Wednesday.

Mr. Ngoubou said two other undisclosed oil companies will also be subject to "a partial reclamation of assets," the FT reported. The report said the targeted companies do not include Total Gabon and Shell Gabon.

According to the FT report, Addax has taken legal action.

Dow Jones Newswires

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