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5/4, 2:14 PM (Source: TeleTrader)
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Exxon postpones $2B North Sea asset sale - report

Exxon Mobil Corporation postponed plans to sell energy assets in the North Sea indefinitely, the Wall Street Journal reported on Monday, citing people familiar with the decision. Earlier, the company planned to sell the assets for as much as $2 billion.

The report comes as energy prices dropped in March and April as a result of high production and extremely low demand due to the coronavirus lockdowns. Earlier, Royal Dutch Shell postponed a North Sea project as low oil prices started influencing decisions.

Exxon Mobil stocks were 2.25% in the red in pre-market trade on Wall Street.

Breaking the News / VP