ExxonMobil (XOM) to Transfer Operations of Malaysia Assets
XOMExxonMobil(XOM) ZACKS·2024-07-26 01:06

Exxon Mobil Corporation (XOM) announced plans to transfer operations of all assets under two production-sharing contracts (PSCs) in Malaysia to the national energy company Petronas, per a Reuters report.The move comes after ExxonMobil agreed to divest its oil and gas assets in Malaysia in 2020. The company has since clarified that the move is a transfer of operations, not a sale, and there will be no change to its working interest in the PSCs.ExxonMobil stated that the operational transfer would not affect ...