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ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

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ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

ExxonMobil and partners will invest $1.0B in Nigeria’s Usan Infill Project, targeting an increase of 40,000 bpd of oil production. The announcement supports incremental supply growth for the company’s upstream portfolio and may be a modest positive for sentiment around Exxon’s future production outlook.

Analysis

ExxonMobil and partners will invest $1.0B in Nigeria’s Usan Infill Project, targeting an increase of 40,000 bpd of oil production. The announcement supports incremental supply growth for the company’s upstream portfolio and may be a modest positive for sentiment around Exxon’s future production outlook.

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Market Sentiment

Overall Sentiment

mildly positive

Sentiment Score

0.25

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