More oil found at permit offshore Gabon

UK-headquartered Panoro Energy and Oslo-listed BW Energy have encountered more oil at a permit offshore Gabon by drilling two open-water wells.

The discovery is part of the Dussafu Marin permit, where the partners have now found oil in all five drilled wells.

The find is significant for the companies, but it's too early to assess its impact on global oil supply or prices.