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Search resuls for: "Assala Energy"


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MILAN, Aug 30 (Reuters) - Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. "Shares are reacting to concerns over the backdrop in Gabon," said Investec equity analyst Alex Smith in London. However, Assala Energy, which current owner Carlyle (CG.O) has agreed to sell to Maurel, said its oil production in Gabon was unaffected. "Note Gabon production represents around 20% of group production. Oslo-listed Panoro Energy (PENR.OL) and BW Energy (BWE.OL) were down 5% and 7%, respectively, and U.S.-based Vaalco Energy (EGY.N) fell 13.8%.
Persons: Maurel, Eramet, Alex Smith, Ali Bongo, Carlyle, Investec's Smith, Danilo Masoni, Alun John, Kirsten Donovan Organizations: MILAN, Military, REUTERS, Staff, Rights, Assala Energy, Energy, BW Energy, Vaalco Energy, Thomson Locations: Gabon, London, France, Frankfurt, Germany, Gabonese, Mouila, OPEC, Oslo, U.S, Gabon's
SummarySummary Companies Carlyle hopes to raise over $1 billion from sale -sourcesAssala acquired in 2017 with Shell deal in GabonLONDON, Oct 11 (Reuters) - Private equity fund Carlyle Group (CG.O) is preparing to launch the sale of its Gabon-focused oil and gas producer Assala Energy, hoping to raise over $1 billion amid high global energy prices, industry sources said. Carlyle International Energy Partners, the fund's energy arm, first invested in Assala in 2017 when it acquired Shell's (SHEL.L) operations in Gabon for $628 million. Soaring oil and gas prices over the past year offer a favourable backdrop for energy companies to sell assets, although the long-term outlook for fossil fuel prices remains uncertain as economies shift to low-carbon energy. Carlyle's other investments include North Sea-focused Neptune Energy and European refiner Varo Energy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ron Bousso Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
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