99 ExxonMobil has recently disclosed its ongoing discussions with Algerian oil company Sonatrach regarding potential exploration and production (E&P) opportunities in Algeria. According to Sonatrach, the country currently produces one million barrels of oil per day and 106 billion cubic meters of natural gas annually. Negotiations surrounding the deal have taken place between ExxonMobil’s delegation and Algerian Energy Minister Mohammad Arkab. The finalization of the agreement is anticipated in the coming days. ExxonMobil, a prominent U.S. energy company, has yet to commence E&P activities in Algeria. The North African nation actively seeks investment from American companies in its energy sector and has previously signed a deal with Occidental Petroleum. You Might Be Interested In Democratic Republic of Congo: African Development Bank Unveils 2023-2028 Country Strategy Paper, Prioritizing Industrialization and Employment Boeing to roll out last 747 jumbo jet from Washington state factory Grasshopper Asset Management Launches Grasshopper Global Multi-Asset Income Plus Growth Fund US Justice Department Approves UTC-Raytheon Merger with Divestitures Hawksford Expands Global Presence with Acquisition of Paradigm Governance Partners Nasdaq dragged lower as Apple’s 2-day valuation wipeout hits $200bn
