AN oil-producing consortium in Guyana comprising ExxonMobil (XOM.N), Hess (HES.N), and CNOOC (600938.SS), posted a 64% surge in 2024 profit to $10.4 billion, Exxon said on Tuesday, as facility updates allowed sustained output growth. Due to fast production expansion and relatively low government royalties and taxes, Guyana has become a …
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ExxonMobil has confirmed plans to invest $1.5 billion in Nigeria’s deepwater exploration and development for the next two years, starting from the second quarter of 2025, the company announced on Tuesday, May 6, 2025. This financial commitment, which will be implemented between Q2, 2025 and 2027 focuses on revitalising production …
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EXXONMOBIL has announced a delay in the final investment decision (FID) for its Rovuma liquefied natural gas (LNG) project in northern Mozambique, now pushing the timeline to 2026. This revised target postpones the project’s go-ahead by approximately three months from the company’s previous projection of late 2025. Despite the delay, ExxonMobil reported …
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NIGERIA has officially approved the sale of ExxonMobil’s onshore assets to Seplat Energy, marking the conclusion of a $1.28bn deal that has been in the pipeline for over two years. The sale, which was first agreed in February 2022, finally received the necessary regulatory and ministerial approvals following significant delays. …
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ExxonMobil has announced significant progress on various energy initiatives across Africa, reinforcing its position as a key player in the continent’s energy sector. The multinational aims to boost energy security while maintaining an industry-leading low emissions intensity. In Mozambique, ExxonMobil is pushing forward with the $24bn Rovuma LNG project. Liam …
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A Pennsylvania jury ordered ExxonMobil (XOM.N) to pay $725.5 million to a former mechanic who claimed toxic chemicals in the company’s gasoline and solvents caused his cancer, according to attorneys for the plaintiff. The 10-2 verdict came on Thursday, attorneys said, after a trial in a state court in Philadelphia, …
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One of the governorship hopefuls in Akwa Ibom State, Obong Ide Owodiong-Idemeko, has said that ExxonMobil’s proposed sale of its assets and eventual exit from the state is good opportunity for indigenous firms and local business to grow. It could be recalled that ExxonMobil had in a press release said …
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