FT. Caracal Energy and TransGlobe Energy, two Africa-focused junior oil companies, have announced plans to merge, in a move that will create a group worth nearly $2bn with operations stretching from Chad and Egypt.
The companies said in a joint statement released during the weekend that their merger will "facilitate future organic and acquisition growth in Africa".
Big oil companies including Royal Dutch Shell, Total of France, and ConocoPhillips and Chevron of the US are selling some of their mature onshore assets in the continent to instead focus…
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