Covid-19/Gabon: BW Energy and Panoro Energy reduce investments but maintain production
As a result of the health crisis, border closures and falling oil prices, oil companies BW Energy and Panoro Energy, in a joint venture at the Dussafu offshore site off the coast of Gabon, have reduced their investments in the country by 50% and 40% respectively.
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▪ Covid-19/Gabon: BW Energy and Panoro Energy reduce investments but maintain production
▪ As a result of the health crisis, border closures and falling oil prices, oil companies BW Energy and Panoro Energy, in a joint venture at the Dussafu offshore site off the coast of Gabon, have reduced their investments in the country by 50% and 40% respectively.
▪ https://www.africabusinessplus.com/en/803786/covid-19-gabon-bw-energy-et-panoro-energy-reduisent-leurs-investissements-mais-maintiennent-la-production/
Norway’s BW Energy and Britain’s Panoro Energy, which respectively own 73.5% and 7.5% of the Dussafu Marine offshore site off the coast of Gabon, have decided to deal with the consequences of the covid-19 global pandemic by reducing their investments in Gabon. With the health crisis and its effects on the world economy, returns on investment are not guaranteed for oil companies.
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