Exxon Mobil Corporation (XOM) has withdrawn from the bidding process to acquire a 40% stake in Namibia's offshore Mopane oil discovery from Galp Energia, per a Reuters report. The decision arrived after more than 12 major oil companies, including ExxonMobil, Shell plc and Brazil’s Petrobras, expressed interest in the block.Galp's stake in the Mopane block has drawn attention due to its estimated reserves of 10 billion barrels of oil and gas equivalent. The block could be worth more than $10 billion, making ...