A pigeon flies over a Exxon mobil fuel station on October 25, 2018 in Gutenberg New Jersey.
Kena Betancur | Corbis Information | Getty Photos
Exxon Mobil mentioned on Thursday it is promoting its upstream belongings in Norway for $4.5 billion.
The sale, involving greater than 20 producing fields operated largely by Norwegian power firm Equinor, is part of its plan to divest roughly $15 billion in belongings by 2021, Exxon Mobil mentioned.
“Our goal is to have the strongest, best Upstream portfolio within the trade,” mentioned Neil Chapman, senior vp of Exxon Mobil, in a press release. “We’re reaching that by including the most effective set of tasks we have had in a few years and divesting belongings which have decrease long-term strategic worth.”
The transaction is predicted to shut within the fourth quarter of 2019, the corporate mentioned. Exxon Mobil will proceed its downstream refining operations in Norway.
Shares of Exxon Mobil is down 0.3% on Thursday.