Senegal's New Leader Plans to Revisit Oil Deals with BP, Kosmos [Financial Post (Toronto, Ontario, Canada)]
BP p.l.c. (BP)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Newly elected Senegalese President Bassirou Diomaye Faye plans to revisit the contracts of oil and gas projects developed by BP Plc, Kosmos Energy Ltd. and Woodside Energy Group Ltd. in order to boost revenue for the state. The West African country is set to open the taps this year on the $4.8 billion Grand Tortue Ahmeyim liquefied natural gas project and Sangomar oil development after numerous delays, setting it up to become one of the world's fastest-growing economies. Article content Article content Faye drew investor attention days before this week's presidential election when he pledged to review the projects. He expects to make good on that promise after a surprise victory in the vote, according to his economic team. “To boost the state's revenue from oil and gas, it's necessary to renegotiate the contracts to increase the state's shares
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