Exxon Mobil is said to withdraw from bid for Galp’s Namibia block
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- Exxon Mobil (NYSE:XOM) withdrew from bidding on half of Galp Energia’s (OTCPK:GLPEF) (OTCPK:GLPEY) new ownership interest in a big oil discovery in Namibia, Reuters reported Monday, citing people familiar with the matter.
- More than 12 oil companies including Exxon (XOM), Shell (NYSE:SHEL) and Brazil’s Petrobras (NYSE:PBR) were interested in Galp’s (OTCPK:GLPEF) (OTCPK:GLPEY) 40% stake in the offshore Mopane discovery.
- Portugal’s Galp (OTCPK:GLPEF) (OTCPK:GLPEY) also proposed the buyer of the block operate the field.