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NIGERIA

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

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“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

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Energy

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NIGERIA
Ambrosie Bryant Chukwueloka 'ABC' Orjiako
Austin Avuru
Banyan Asian Capital Limited fund
Cairn Energy
Capricorn
Chappal
Eland Oil & Gas
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Heirs Holdings
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Les Blair
Muhammadu Indimi
NNPC
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Perenco
Roland Schustereder
Seplat
Shell
Tony Elumelu
TotalEnergies
Trident Energy
Warburg Pincus

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