Shell, Exxon reach deal for Somalia oil blocks [Seeking Alpha]
Royal Dutch Shell PLC Royal Dutch Shell American Depositary Shares (Each representing two Class A Ordinary Shares) (RDS.A)
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Source: Seeking Alpha
Shell, Exxon reach deal for Somalia oil blocks - Royal Dutch Shell plc (NYSE:RDS.A) | Seeking Alpha Energy Shell, Exxon reach deal for Somalia oil blocks Jun. 28, 2019 11:48 AM ET | Royal Dutch Shell plc (RDS.A) Carl Surran Somalia moves closer to reviving its oil sector after two decades of paralysis, as the government reaches a deal with Royal Dutch Shell ( +0.4% XOM settle payments for rental fees Shell and Exxon had a joint venture on five offshore blocks in Somalia prior to the toppling of dictator Mohamed Siad Barre in the early 1990s, and they have accrued rentals to the government since then. The country currently does not produce any oil but production could transform the economy Somalia recently passed a revenue sharing agreement and hopes to allocate 15 offshore blocks, with a potential bid date scheduled for November. Click to subscribe to real-time analytics on RDS.A Now read: ExxonMobil - World's Largest Publicly Traded Oil Company For A Reason » Subscribe
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