Shell Gabon sale to be finalised in January: source

2017-01-16 19:30
iStock

iStock

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Libreville - Oil giant Royal Dutch Shell will sign a deal to sell its Gabon oil assets to US fund Carlyle this month, a source close to the talks said  onMonday, as unions threatened further strike action.

The expected sale, worth an estimated $700m, is part of a drive by Shell to spin off a total of $30bn worth of assets to cut debt.

Shell Gabon's 400 staff started striking last week and threatened on Monday to toughen their stance.

The ONEP union said that Shell's withdrawal from Gabon was detrimental to staff and they should be paid damages.

The 400 staff are expected to be retained by the company's new owners.

The ongoing strike has already led to production cuts of 30 to 50%, the union said.

"The Shell Gabon company has already lost more than 90 000 barrels, which translates into a financial loss of $4.5m," ONEP said.

Read more on:    shell  |  gabon  |  southern africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
/World
 

Fascinating facts about dogs

Think you know a lot about dogs? How many of these facts do you know?

 
 

Paws

Perfectly captured cat snapchats!
Fascinating facts about dogs
Out with the old dog, in with the new
Play with your pet when you're not at home
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.