Glencore continues Africa expansion

摘要

Commodities giant Glencore continued its planned expansion in Africa with a US $1.35 Bn offer for the partner in its acreage in Chad - Caracal Energy. Cash rich oil traders are currently trying to buy up production with their cash piles and the Caracal deal gives Glencore around 14,000 b/d of current production from its three blocks in the south of Chad, a figure that is expected to grow.