The Strategist

Exxon Mobil plans to accelerate asset sales worldwide

11/22/2019 - 08:19

The American oil and gas corporation is going to sell assets in 11 countries for a total of $ 25 billion.

Mike Mozart
Mike Mozart
This was reported with reference to unnamed sources in banking circles by Reuters. According to the agency’s sources, Exxon is going to withdraw from extractive assets in the British part of the North Sea, Germany, and Romania.

Southeast Asia plans to sell assets in Indonesia and Malaysia. In the African Region, Exxon Mobil executives intend to sell assets in Chad, Equatorial Guinea, as well as part of the assets in Nigeria.

In late September, the corporation announced the sale of its assets in Norway for $ 4.5 billion, curtailing its activities in the country 126 years after it began operating under the Esso brand.

An Exxon Mobil spokesman declined to comment on the agency’s information, saying the company “does not comment on market rumors or speculation.”