Winding down: Cars seen at an Exxon station in Brooklyn. Crude oil production is waning in West Africa, resulting in the oil giant leaving Equatorial Guinea. — Reuters
HOUSTON: Exxon Mobil Corp will wind down oil production in Equatorial Guinea and leave the West African country after its licence expires in 2026, two sources close to the matter told Reuters.
The departure reflects a wider move by major oil producers to reduce crude production in West Africa and shift investments to lower-carbon natural gas development on the continent, and to more lucrative projects in the Americas.
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