Your account has been succesfully created.

Subscribe now

Spotlight

NIGERIA

The ins and outs of ExxonMobil's $2bn sell-off

Read this article in our running story

“The oil companies' quiet retreat from the Gulf of Guinea”

GULF OF GUINEA

The oil companies' quiet retreat from the Gulf of Guinea

Long considered an oil Eldorado thanks to the presence within the region of Africa's two leading oil producers, Nigeria and Angola, the Gulf of Guinea is declining. The inexorable rundown in its output -few if any new discoveries have been made recently in Gabon, Cameroon or Equatorial Guinea - and the fall in oil prices brought about by the Covid-19 pandemic have speeded up the retreat from the region in which the oil majors have been engaged for some years already. [...]

The US super major is quietly working to unload its marginal assets. It has a long way to go before it succeeds. [...] (461 words)

Issue dated 12/01/2022 Reading time 2 minutes

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

e-wallet

from EUR/USD 50

Only buy articles you are interested in

ANNUAL SUBSCRIPTION

Unlimited access to the website

See our rates

Choose the option that suits you best: Compare all of our offers!

Do you want a free trial before subscribing?

Create your free account

Do you want a free trial before subscribing?

create a free account

Energy

Set up email notifications for these topics

NIGERIA
Ambrosie Bryant Chukwueloka 'ABC' Orjiako
Austin Avuru
Banyan Asian Capital Limited fund
Cairn Energy
Capricorn
Chappal
Eland Oil & Gas
ENI
ExxonMobil
Folabi Kuti
Heirs Holdings
Jean-Michel Jacoulot
Les Blair
Muhammadu Indimi
NNPC
Oriental Energy Resources
Osaro Eghobamien
Perenco
Roland Schustereder
Seplat
Shell
Tony Elumelu
TotalEnergies
Trident Energy
Warburg Pincus

NNPC moves in after Seplat fails to buy ExxonMobil blocks

ExxonMobil is more than ready to negotiate withdrawal conditions for shallow offshore blocks with Nigeria's state agency. But it will be no easy matter. [...]

MOZAMBIQUE Energy 06/10/2022

ExxonMobil reorganises its staff as Rovuma shifts to 100% offshore

The US major does not intend to leave more than 100 trillion cubic feet of gas in the depths of the Mozambique Channel. To extract them, a new crack team of executives is at work to overturn the company's initial choices. [...]

AFRICA Energy 29/08/2022

Tullow Oil boss Rahul Dhir runs into opposition over his Capricorn merger plan

One after another, the shareholders of British energy company Capricorn are coming out against a merger they consider contrary to their interests. [...]

NIGERIA Energy 11/07/2022

With its NOPL pipeline still shut down, TotalEnergies looks for alternative solutions

The French major TotalEnergies stopped delivering gas to the Alaoji thermal power station several months ago, because its pipeline was vandalised. Yet Greenville LNG has proposed an alternative: transport by truck. [...]

MAURITANIA Energy 10/06/2022

Capricorn and Shell to follow BP in deserting Mauritanian basin?

In the wake of the British major, the main oil operators in the Mauritanian basin are considering abandoning their exploration projects there. [...]

NIGERIA Energy 07/04/2022

Nigerian billionaire Elumelu teams up with Tullow Oil and Gran Tierra in hope for Shell success

The recent sale of the Shell Petroleum Development Co in 2021 is whetting the appetite of many international and national investors. To maximise his chances of obtaining the Anglo-Dutch major's onshore assets, businessman Tony Elumelu is putting together a formidable consortium. [...]

NIGERIA Energy 17/03/2022

ExxonMobil's deal with Seplat hangs upon summit meeting

ExxonMobil and Seplat will meet today to find a way to get around the Nigerian state oil company and move forward with their $1.3bn deal. [...]

NIGERIA Energy 13/01/2022

Sylva and Buhari keep Petronor and Panoro waiting on Aje

The Nigerian authorities are dragging their feet on signing the Aje deal and, despite the new petroleum act, doing business in Nigeria remains difficult. [...]

Secretary of State for Petroleum Resources Timipre Sylva and the Nigerian president Muhammadu Buhari.

NIGERIA Energy 09/12/2021

Shell seeks rapid SPDC sale despite legal wranglings with NNPC

The British-Dutch major will find it hard to sell its Nigerian subsidiary, SPDC, which is owed $1.2bn by the NNPC and is in dispute with it for more than double that amount. [...]

Spotlight

NIGERIA Energy 10/11/2021

Why progress is slow on Shell's SPDC sale, the biggest oil deal of 2021/2022 Free

The British-Dutch major is trying to sell its onshore business to concentrate on larger offshore fields. [...]

NIGERIA Energy 14/07/2021

Trident and Seplat battle Chappal for ExxonMobil stake

ExxonMobil's offloading of its stake in four shallow offshore licences, initiated in 2019, is attracting interest from several Nigerian firms backed by Western partners. [...]

Spotlight

NIGERIA Energy 20/04/2021

Relations with Beijing cool over Addax ouster

Abuja's decision to remove the Chinese oil firm over a tax dispute has prompted complaints and threats of litigation. The four blocks previously exploited by Addax have been transferred to two Nigerian firms. [...]

NIGERIA Energy 05/02/2021

Mike Sangster spearheads lobbying of Total, Chevron, ExxonMobil and Shell on new oil bill Free

To pressure the Nigerian authorities into including greater incentives for investors in the new petroleum bill, the oil companies present in the country have put their faith in the lobbying clout of their most influential figure: [...]

Set up email notifications for these topics

NIGERIA
Ambrosie Bryant Chukwueloka 'ABC' Orjiako
Austin Avuru
Banyan Asian Capital Limited fund
Cairn Energy
Capricorn
Chappal
Eland Oil & Gas
ENI
ExxonMobil
Folabi Kuti
Heirs Holdings
Jean-Michel Jacoulot
Les Blair
Muhammadu Indimi
NNPC
Oriental Energy Resources
Osaro Eghobamien
Perenco
Roland Schustereder
Seplat
Shell
Tony Elumelu
TotalEnergies
Trident Energy
Warburg Pincus

Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. Stay informed anytime, anywhere!

Thierno Ba, friend to Macky Sall and key military equipment broker

From Texas to South Kivu's highlands, Mahoro Peace Association's complex channels finance militia

The ins and outs of ExxonMobil's $2bn sell-off