TheLearningPhotographer/Shutterstock International oil companies (IOCs) are looking to hive off more legacy upstream oil assets in Africa, with independents and/or private equity firms the most likely buyers.While a prized cash cow in years past, the legacy assets struggle to compete with lower-cost and lower-carbon opportunities in majors' modern portfolios.As they seek to divest, majors such as Exxon Mobil are finding asset sales can be blocked by African governments wanting a greater say in how their resources are reallocated. Save for later Print Download Share LinkedIn Twitter The Issue
