Exxon Mobil to Exit Equatorial Guinea
Published on: Thursday 08 February 2024
Exxon Mobil Corp said on Thursday it will exit Equatorial Guinea in the second quarter of this year, when the oil major will transfer its remaining investments in the country to the local government. Reuters reported in 2022 that Exxon had decided to leave the country once its licenses expired, amid a larger Africa phase out from legacy crude assets. Exxon's oil output in Equatorial Guinea has been declining over the years and the oil giant has been trying to sell its key asset Zafiro operation since 2020.
