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Shell Plans Oil-Asset Sale in Gabon, Says President

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By DREW HINSHAW in Kigali, Rwanda, and SARAH KENT in London: May 12, 2016

Royal Dutch Shell PLC is looking to sell oil blocks in Gabon, the country’s president said, as the company’s mammoth divestment plan threatens a Central African nation already hard hit by crashing crude prices.

Shell is in the process of selling off $30 billion of assets in the wake of its roughly $50 billion acquisition of BG Group PLC earlier this year. The deal gives the Anglo-Dutch oil major a strong position in the fast-growing liquefied-natural-gas market and lucrative deep-water blocks offshore Brazil, but investments that don’t fit within those core areas are likely to come under serious scrutiny as the company looks for cash to bring down its debt level.

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