VAALCO Energy shares are trading lower after Gabon's military arrested President Ali Bongo Ondimba and assumed control of the country. The company said its Gabon operations continue to operate normally.
Portfolio Pulse from Benzinga Newsdesk
VAALCO Energy's shares are trading lower following the arrest of Gabon's President Ali Bongo Ondimba by the military. Despite the political turmoil, the company's operations in Gabon continue to function normally.
August 30, 2023 | 7:34 pm
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VAALCO Energy's stock price is falling due to the political instability in Gabon, where the company has operations. However, the company has stated that its operations are continuing as normal.
The arrest of Gabon's President has created political instability, which is negatively affecting VAALCO Energy's stock price. Investors are likely concerned about potential disruptions to the company's operations in Gabon. However, the company has stated that its operations are continuing as normal, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100