Exxon Mobil to Exit Equatorial Guinea After Nearly Three Decades
- Mid-1990s oil discoveries kicked off decades-long crude boom
- Equatorial Guinea is OPEC’s smallest producer as output falls
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Exxon Mobil Corp. plans to leave Equatorial Guinea within months, marking an end to almost three decades of oil drilling that transformed the small West African nation into an OPEC member.
Exxon will transfer investments in the country to the government during the second quarter, the company said in an email. “Our focus now is on a safe handover of operations and caring for all impacted by this change.”