Ivory Coast Readies Pre-Emptive Right Over Potential Eni Sale

Ivory Coast expects to be first in line should Eni SpA decide to sell a stake in its exploration business there, according to officials familiar with the information.

The Italian oil company is exploring divesting as much as 30% of the operation, Bloomberg reported earlier this week. Should it go ahead, Ivory Coast would seek to exercise its right to pre-empt a sale to anyone else, government officials said, asking not to be identified because the information is not public.

African nations have increasingly explored options to raise their involvement in oil and gas discoveries. But exercising a sovereign right ...