Deals
Exxon to Sell Black Sea Gas Stake to Romania for $1 Billion
- State-controlled Romgaz needs to get shareholder approval
- Exxon exiting project after partners spend $1.5 billion
Source: Getty Images
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Exxon Mobil Corp. agreed to sell its 50% stake in a deepwater natural gas project in the Black Sea to Romania’s state-owned Romgaz SA for $1.06 billion.
The deal hinges on Romgaz SA obtaining approval from shareholders, according to a regulatory statement to the Bucharest Stock Exchange on Tuesday. Exxon confirmed the agreement in an emailed statement.