Exxon Looks To Enter Egypt’s Upstream Oil And Gas

ExxonMobil is exploring opportunities to enter Egypt’s upstream oil and gas sector, after the 2015 discovery of a huge gas deposit in the Mediterranean offshore Egypt, industry sources and Egyptian officials have told Reuters. Currently, Exxon only operates in Egypt’s downstream, with more than 350 service stations, over 20 Mobil 1 Centers, and exports of lubricants and products to more than 25 countries in Africa, the Middle East, Europe, and the Far East. Exxon officials have held talks with the Egyptian petroleum ministry over potential…