Exxon Mobil withdraws from bidding for 50% stake in Galp Energia's Mopane oil field off Namibia.

Exxon Mobil has withdrawn from bidding for a 50% stake in Galp Energia's Mopane oil discovery off Namibia, which holds an estimated 10 billion barrels of oil and gas equivalent, potentially valued at over $10 billion. The reasons for Exxon's exit remain unclear, while other companies like TotalEnergies and Shell continue negotiations for the stake. Exxon's shares rose 0.65% to $113.37 in premarket trading.

September 09, 2024
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