Exxon Mobil refutes Reuters’ report on ‘exit plan’

By : Femi Adekoya (With agency report)

Date: 3 April 2019 5:03am WAT

This file photo taken on February 01, 2008 shows an Exxon gas station in Burbank, California. ExxonMobil reported April 28, 2017 that first-quarter earnings more than doubled as increased oil prices translated into higher profits after a lengthy slump.Net income for the quarter ending March 31 surged to $4.0 billion, up 122 percent from the same period of 2016. Revenues rose 30 percent to $63.3 billion.DAVID MCNEW / GETTY IMAGES NORTH AMERICA / AFP

Insists on long-term operations in Nigeria
Exxon Mobil has said that it is still committed to the company’s long-term business operations in Nigeria.

The assurance is coming on the heels of an online report by an international media agency, Reuters, suggesting that it (Exxon Mobil) recently held talks on sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in U.S. shale and Guyana.

Reuters had attributed the report to unnamed “industry and banking sources.”

“ExxonMobil is committed to its long-term business operations in Nigeria. As a matter of practice, we don’t comment on business discussions,” Manager, Media and Communications at Mobil Nigeria, Mr. Oge Udeagha, said in a statement yesterday.

According to Reuters, the potential disposals are expected to include stakes in onshore and offshore fields and could rise up to $3 billion, two sources said.