France’s Total sells assets in Brunei, Sierra Leone, Liberia

PARIS (Reuters) – Total said on Tuesday it had sold assets in Brunei, Sierra Leone and Liberia, which the French energy group said represented a total value of more than $400 million.

In Brunei, Total said it had closed the sale of its wholly owned subsidiary Total E&P Deep Offshore Borneo BV to Shell, while it also signed a deal to sell its marketing and services businesses in Liberia and Sierra Leone to Conex Oil & Gas Holdings Ltd.

“In the current context of low oil prices, these transactions support the action plan announced to weather the crisis,” Total Chief Financial Officer Jean-Pierre Sbraire said.

Source: Reuters

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About Cholo Brooks 13170 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.