Gabon to Seize Field as Dispute With Sinopec Unit Worsens
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Gabon’s oil ministry plans to seize an oil field from China Petrochemical Corp.’s Addax Petroleum as a dispute over production contracts worsens.
Gabonese Oil Minister Etienne Ngoubou will not renew Addax’s license at he Tsiengui field because it had breached the law, a ministry official said today. Gabon already seized Addax’s Obangue field. Two other companies face similar actions, the official said, declining to name them.