ExxonMobil to end oil drilling in Equatorial Guinea after nearly three decades

We will see more of that – the big majors will consolidate their portfolios and a global footprint won’t be the asset it once was anymore. Operations in certain areas of the world have become a lot more onerous and it’s not only the security situation. Also, some governments have grown insatiable for the oil cash and need to squeeze ever more out of those operations. Some use blackmail to get what they want and some companies are not up for the game anymore. Producing oil in the US and close to US shores proves easier and less risky. Will that stop oil in Africa? Sure not – but the difficult plays will be harder and more expensive without the expertise of the big boys. 

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