Doba’s production has been in decline for years
ExxonMobil considers Chad divestment
Savannah is the latest independent to see opportunity in mature African assets, as another major seeks an out
AIM-listed independent Savannah Energy is in "advanced exclusive discussions" with ExxonMobil about acquiring the US major's entire upstream and midstream portfolio in Chad and Cameroon. The portfolio includes a 40pc stake in the Doba oil project and an effective 40pc share in the Chad-Cameroon oil pipeline. The deal will be classed as a reverse takeover if it goes through, so Savannah has requested that AIM suspends trading in its shares until it is able to release more details of the proposals, or the talks end. The other stakeholders in the Doba consortium are Malaysia's Petronas (35pc) and Chad's state oil company SHT (25pc). Output has slowed recently, with Doba producing an average
Also in this section
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
