Chadian president Mahamat Deby
Chad nationalises ExxonMobil’s former assets
Savannah Energy claims the assets and will contest the decision at the ICC
The government of Chad intends to nationalise the upstream assets formerly held by ExxonMobil, which are claimed by AIM-listed Savannah Energy. The nationalisation decree was issued by the president of the landlocked Sahel nation, Mahamat Deby. The move is “in direct breach of the conventions to which [Savannah’s local subsidiary] SCI and the Republic of Chad are party”, Savannah says, adding that “the conventions are subject to the jurisdiction of an [International Chamber of Commerce: ICC] tribunal, seated in Paris, and the company intends to pursue all of its legal rights”. ICC arbitration “could take 18–24 months”, but the company “believes it has a watertight case”, according to analyst
Also in this section
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
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
