ExxonMobil plans $10bn investment in Nigeria's offshore oil operations [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Despite agreeing to divest its onshore assets to Seplat Energy for $1.3bn, Exxon remains committed to maintaining its operations in Nigeria. Harris said that Exxon is working with the office of Nigeria's president "to secure favourable fiscal arrangements that will make this significant investment possible". Shettima said: “This potential investment by ExxonMobil aligns perfectly with President Bola Tinubu administration's vision for a more investment-friendly Nigeria. “We are committed to creating an enabling environment for such transformative projects.” Nigeria's oil production saw a 10.15% increase in Q2. The average output reached 1.41 million barrels per day (mbbl/d), a notable rise from 1.22mbbl/d in the previous year. Last month, Bloomberg reported that ExxonMobil was considering the sale of a package of conventional oil assets in the Permian Basin. The potential transaction could be worth approximately $1bn. The sale aligns with the company's focus on expanding
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XOM
News
- Exxon Mobil Co. (NYSE: XOM) had its price target raised by analysts at Wells Fargo & Company from $135.00 to $136.00. They now have an "overweight" rating on the stock.MarketBeat
- ExxonMobil Secures 20-Year Access to Guangdong Energy's LNG Terminal [Yahoo! Finance]Yahoo! Finance
- Guangdong Energy Group set to commence operations at new $1bn LNG terminal [Yahoo! Finance]Yahoo! Finance
- Los Angeles Times News Quiz this week: Ohtani's rare feat, Sierra Madre's smart bears [Los Angeles Times (CA)]Los Angeles Times
- Texas approves plan to expand Permian Basin drillers' power grid access [Seeking Alpha]Seeking Alpha
XOM
Earnings
- 8/2/24 - Beat
XOM
Sec Filings
- 9/25/24 - Form SD
- 8/14/24 - Form 4
- 8/5/24 - Form 10-Q
- XOM's page on the SEC website