Exxon hunts buyers as it plans to quit North Sea - The Times

Exxon Mobil is seeking to offload its British operations in the North Sea for as much as $2 billion after 55 years in the region.

The company has spoken directly to potential buyers and could appoint a bank to run a formal sale process if the talks do not yield results, according to Reuters.

Exxon Mobil, which is based in Irving, Texas, is the world’s largest publicly traded oil company, valued at close to $300 billion. It began exploring the North Sea in 1964 and today has interests in about 40 offshore British fields. It claims to be responsible for about 5 per cent of UK production, supplying 80,000 barrels of oil and 441 million cubic feet of gas per day to the domestic and…

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https://www.thetimes.co.uk/article/exxon-hunts-buyers-as-it-plans-to-quit-north-sea-vhsvnnvr6

2019-08-13 23:01:00Z
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