Identifier
Created
Classification
Origin
06LIBREVILLE624
2006-10-12 08:45:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Libreville
how-toVZCZCXYZ0034 PP RUEHWEB DE RUEHLC #0624 2850845 ZNR UUUUU ZZH P 120845Z OCT 06 FM AMEMBASSY LIBREVILLE TO RUEHC/SECSTATE WASHDC PRIORITY 9359 INFO RUEHFR/AMEMBASSY PARIS PRIORITY 0836 RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY
UNCLAS LIBREVILLE 000624
SIPDIS
SENSITIVE
SIPDIS
PARIS FOR AFRICA WATCHER
STATE PASS DEPT OF ENERGY FOR CGAY
E.O. 12958: N/A
TAGS: EPET ENRG ECON GB
SUBJECT: MOBIL PULLING OUT OF GABON
REF: LIBREVILLE 391
UNCLAS LIBREVILLE 000624
SIPDIS
SENSITIVE
SIPDIS
PARIS FOR AFRICA WATCHER
STATE PASS DEPT OF ENERGY FOR CGAY
E.O. 12958: N/A
TAGS: EPET ENRG ECON GB
SUBJECT: MOBIL PULLING OUT OF GABON
REF: LIBREVILLE 391
1. (SBU) As part of a larger divestiture from its marketing
operations in sub-Saharan Africa, ExxonMobil has sold its
shares in Mobil Oil Gabon to the Libyan oil company, Tamoil.
ExxonMobil held 90% of Mobil Oil Gabon, with the GoG holding
the remaining 10%. Earlier in the year ExxonMobil sold its
shares in Gabon's refinery to the GoG (approximately 11% for
$2.5 million). According to Henri Soudan, General Manager of
Mobil Oil Maroc, who will remain in Libreville during the
transition, the sale of the shares does not require GoG
approval. The only notification requirement is to the
Economic and Monetary Community of Cental Africa (CEMAC by
its French acronym),which has 30 days to review the
implications of the sale for competition in the region. The
transition phase is expected to last no more than a couple of
months.
2. (SBU) The sale is a clean break agreement, which transfers
all responsibilities for past and future commitments to
Tamoil. In Gabon this means that ExxonMobil's outstanding
$63 million fine dispute with Gabon's customs authority will
be taken over by Tamoil. ExxonMobil previously resolved a
VAT reimbursement dispute with the GoG.
WALKLEY
SIPDIS
SENSITIVE
SIPDIS
PARIS FOR AFRICA WATCHER
STATE PASS DEPT OF ENERGY FOR CGAY
E.O. 12958: N/A
TAGS: EPET ENRG ECON GB
SUBJECT: MOBIL PULLING OUT OF GABON
REF: LIBREVILLE 391
1. (SBU) As part of a larger divestiture from its marketing
operations in sub-Saharan Africa, ExxonMobil has sold its
shares in Mobil Oil Gabon to the Libyan oil company, Tamoil.
ExxonMobil held 90% of Mobil Oil Gabon, with the GoG holding
the remaining 10%. Earlier in the year ExxonMobil sold its
shares in Gabon's refinery to the GoG (approximately 11% for
$2.5 million). According to Henri Soudan, General Manager of
Mobil Oil Maroc, who will remain in Libreville during the
transition, the sale of the shares does not require GoG
approval. The only notification requirement is to the
Economic and Monetary Community of Cental Africa (CEMAC by
its French acronym),which has 30 days to review the
implications of the sale for competition in the region. The
transition phase is expected to last no more than a couple of
months.
2. (SBU) The sale is a clean break agreement, which transfers
all responsibilities for past and future commitments to
Tamoil. In Gabon this means that ExxonMobil's outstanding
$63 million fine dispute with Gabon's customs authority will
be taken over by Tamoil. ExxonMobil previously resolved a
VAT reimbursement dispute with the GoG.
WALKLEY