Commodities & Energy

Reuters exclusively reports Exxon revives sale of stake in giant Azeri oilfield

Reuters exclusively reports Exxon revives sale of stake in giant Azeri oilfield

Reuters exclusively reported that Exxon Mobil has relaunched the sale of its stake in Azerbaijan’s largest oilfield – a move drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices, according to Reuters sources. While Exxon’s sale process was never officially suspended, it was recently relaunched despite oil prices halving to around $30 a barrel after a historic collapse in oil consumption due to coronavirus-linked lockdowns that restricted people’s movement.