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MarketScreener Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

EXXON MOBIL CORPORATION

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Exxon Mobil : Azeri-Chirag-Gunashli shareholders considering buying shares held by Exxon, Chevron

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08/15/2019 | 12:15am EDT

Shareholders of the project for development of Azeri-Chirag-Gunashli block of oil and gas fields in the Azerbaijani sector of the Caspian Sea are considering buying shares held by the US ExxonMobil Corporation and Chevron, Elshad Nasirov vice president for marketing and investment at Azerbaijan's state oil company SOCAR told Bloomberg.

Exxon Mobil Corp. and Chevron Corp. are seeing what price they might get to sell out of the Azeri-Chirag-Guneshli oil project as they eye expansion elsewhere, he said, Trend reports.

"We have discussed this with both Exxon Mobil and Chevron," said Elshad Nasirov.

"Everybody" at ACG is considering buying the shares held by Exxon and Chevron, but it will depend on the outcome of "market testing" and the price that emerges, Nasirov said.

The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in BakuSept. 14, 2017.

The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

Stocks mentioned in the article
ChangeLast1st jan.
CHEVRON CORPORATION -2.17% 115.18 Delayed Quote.5.87%
EXXON MOBIL CORPORATION -2.99% 67.49 Delayed Quote.2.02%
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Financials (USD)
Sales 2019 272 B
EBIT 2019 23 913 M
Net income 2019 13 829 M
Debt 2019 41 209 M
Yield 2019 5,09%
P/E ratio 2019 20,8x
P/E ratio 2020 15,6x
EV / Sales2019 1,20x
EV / Sales2020 1,14x
Capitalization 286 B
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Mean consensus HOLD
Number of Analysts 25
Average target price 81,14  $
Last Close Price 67,49  $
Spread / Highest target 48,2%
Spread / Average Target 20,2%
Spread / Lowest Target -11,1%
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Darren W. Woods Chairman, President & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
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