{"id":4472,"date":"2023-03-25T13:53:04","date_gmt":"2023-03-25T13:53:04","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=4472"},"modified":"2023-03-25T13:53:07","modified_gmt":"2023-03-25T13:53:07","slug":"chad-nationalizes-all-assets-owned-by-exxon-mobil","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/4472\/","title":{"rendered":"Chad nationalizes all assets owned by Exxon Mobil"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>The nationalization of Exxon Mobil\u2019s assets in Chad comes after the oil giants divested from them in December 2022, media have reported.<\/p>\n\n\n\n<p>Chad has nationalized all the assets and rights, including hydrocarbon permits and exploration and production authorizations, that belonged to a subsidiary of Exxon Mobil, the West African nation\u2019s energy and hydrocarbons ministry said in a statement on Thursday, according to AlJazeera.<\/p>\n\n\n\n<p>Exxon Mobil said in December 2022 that it had closed the sale of its operations in Chad and Cameroon to London-listed Savannah Energy in a $407m deal, but the Chadian government contested the agreement, saying the final terms were different from what had been presented to it.<\/p>\n\n\n\n<p>The government warned then that it may ask courts to block Savannah\u2019s purchase of Exxon\u2019s assets in the country and take further steps to protect its interests.<\/p>\n\n\n\n<p>Exxon\u2019s assets included a 40 percent stake in Chad\u2019s Doba oil project, which comprises seven producing oilfields with a combined output of 28,000 barrels per day (bpd).<\/p>\n\n\n\n<p>It also included Exxon\u2019s interest in the more than 1,000km (621-mile) Chad-Cameroon pipeline from the landlocked nation to the Atlantic Gulf of Guinea coast through which its crude is exported.<\/p>\n\n\n\n<p>On Friday, Savannah said it plans to pursue all its legal rights to contest Chad\u2019s move a day earlier to nationalize its upstream assets in the African country.<\/p>\n\n\n\n<p>\u201cThe actions of the Republic of Chad are in direct breach of the Conventions to which SCI and the Republic of Chad are, amongst others, party,\u201d its statement read.<\/p>\n\n\n\n<p>\u201cThe Conventions are subject to the jurisdiction of an ICC tribunal, seated in Paris and the Company intends to pursue all of its legal rights.\u201d<\/p>\n\n\n\n<p>Chad, which has the 10th largest reserves in Africa, exports 90 percent of its oil.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-03-25T13:53:07+00:00\"> 25 March 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"The nationalization of Exxon Mobil\u2019s assets in Chad comes after the oil giants divested from them in December 2022, media have reported. Chad has nationalized all the assets and rights, including hydrocarbon permits and exploration and production authorizations, that belonged to a subsidiary of Exxon Mobil, the West African nation\u2019s energy and hydrocarbons ministry said [&hellip;]","protected":false},"author":1,"featured_media":4473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16],"tags":[],"services":[],"class_list":["post-4472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=4472"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/4473"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=4472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=4472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=4472"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=4472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}