An Exxon gas station is viewed in a Brooklyn neighbourhood, New York City. The firm is seeking buyers for its stake in a large undeveloped gas field off Tanzania. AFP PHOTO | SPENCER PLATT
Exxon Mobil is seeking buyers for its stake in a large undeveloped gas field off Tanzania, according to three banking and industry sources, as the company focuses on the development of an even bigger project in neighboring Mozambique.
The planned sale is an example of Chief Executive Darren Woods’ strategy of freeing up cash and narrowing the American firm’s focus on a number of giant projects around the world deemed to have the best prospects, including in Mozambique, Guyana and US shale.
