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Chad nationalizes ExxonMobil’s assets

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Chad’s energy ministry has announced the nationalization of all the assets and rights belonging to a subsidiary of US oil major ExxonMobil, including hydrocarbon permits and exploration and production permits, according to a Reuters report.

Exxon’s assets reportedly included a 40% stake in Chad’s Doba oil project, which comprises seven producing oilfields with a combined output of 28,000 barrels per day (bpd).

The report also mentions Exxon’s interest in the Chad-Cameroon export transportation system, which extends for over a thousand kilometers.

 

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