Commodities & Energy

Reuters reveals that Exxon agrees to $4 billion sale of Norway oil and gas assets; market reacts

Reuters reveals that Exxon agrees to $4 billion sale of Norway oil and gas assets; market reacts

Reuters was first to report that Exxon Mobil has agreed to sell its Norwegian oil and gas assets for up to $4 billion, ending its production in a country where it started operations more than a century ago. Shares in Exxon, the world’s biggest publicly traded oil company, rose 1.7% to a session high in New York after the Reuters report was published. Exxon Mobil later confirmed that it had signed an exclusivity agreement with Var Energi about the sale of its Norwegian upstream assets.