Gunvor Financed Gabon’s $300 Million Deal For Tullow Oil Assets

Commodity trader Gunvor Group has made another significant oil deal in Gabon, its second since the country sought more control of national assets following a coup d’etat in 2023.

State-owned Gabon Oil Company financed $220 million of a $300 million deal for Tullow Oil Plc’s assets in the country through an underwritten prepayment facility from Gunvor’s Middle East subsidiary, Tullow said in a filing Tuesday.

Gunvor last year provided around $800 million to help Gabon finance another nationalization deal, the acquisition of Carlyle Group’s Assala Energy. A spokesperson for Gunvor declined to comment on the deal.

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