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Exxon Mobil may gain $3.6bn from selling assets in Norway

Exxon Mobil may gain $3.6bn from selling assets in Norway

Mubasher: American multinational energy company Exxon Mobil is expecting to generate profits ranged between $3.4 billion and $3.6 billion from the sale of its Norwegian oil and gas production assets, Reuters reported on Friday.

The deal is also expected to offset lower margins in Exxon’s refining and chemicals operations.

Moreover, the energy company’s oil production business is forecast to record balanced results in the fourth quarter of 2019.

It is worth noting that Exxon’s official results for the fourth quarter are scheduled to be released on 31 January.

In December, ExxonMobil announced that it obtained more than 1.7 million acres for offshore exploration in Egypt.