Reuters exclusively reported that Exxon Mobil has relaunched the sale of its stake in Azerbaijan’s largest oilfield – a move drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices, according to Reuters sources. While Exxon’s sale process was never officially suspended, it was recently relaunched despite oil prices halving to around $30 a barrel after a historic collapse in oil consumption due to coronavirus-linked lockdowns that restricted people’s movement.
Reuters exclusively reports Exxon revives sale of stake in giant Azeri oilfield
21 May 2020, 12:00 am. 1 minute
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe / Middle East / Africa
Win Types: Exclusivity
Story Types: Exclusive / Scoop