ExxonMobil makes plans to sell off assets in Nigeria


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Fresh reports have emerged concerning the proposed sale of all assets owned by Oil Giant, ExxonMobil in Nigeria and other countries.

Recall The Herald earlier reported how another oil giant Chevron is in the middle of negotiations to sell off assets in Nigeria and relocate to the US.

According to Reuters, ExxonMobil is making plans to divest $25billion   oil and gas fields in Asia, Europe and Africa in order to focus on other mega projects.

This is coming as a result of the mounting pressure on the oil giant to make funds available for innovative projects in the Mozambique, Papua New Guinea, United States and Guyana

The banking sources who spoke to Reuters disclosed that the Oil an d Gas Giant has made a list of the assets intended for sale in about 11 countries. Some of the countries include Equatorial Guinea,  Chad and Nigeria.

This extensive and classified list exceeds the organization’s current $15 billion disposal target for 2021.

Darren Woods, the Chief Executive of ExxonMobil  stated that the oil giant has plans underway that will augment spending in the next few years with its innovations in US, Guyana, Mozambique and Qatar.

However, the oil giant is yet to confirm  or deny the report as all efforts  to reach Ogechuckwu Odeagha the Spokesperson were unsuccessful.

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