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Gabon’s Total trades assets to Perenco

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French oil group Total said its 58%-owned affiliate Total Gabon had approved selling its stakes in seven oil fields off the coast of Gabon, as well as stakes in the Cap Lopez oil terminal, to rival Perenco.

Total added that Perenco will pay between $290 million and $350 million for those assets, depending on future Brent prices. It said it remained committed to Gabon.

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