To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Starbucks is not accepting Bitcoin, but builds an exchange

It will generally allow the crushed and boiled crypto investments to be converted to the crushed an...



Exxon Mobil is buying InterOil for $3.6 billion



Exxon wants to acquire discoveries in Papua New Guinea.



28.Jul.16 1:45 AM
By Alesya Davydova
Photo Toinnov.com

   167

Exxon Mobil is buying InterOil for $3.6 billion

Exxon Mobil Corp. is buying natural gas explorer InterOil Corp. for $3.6 billion. Bloomberg explains that the company’s aim is to acquire discoveries in Papua New Guinea that will feed the buyer’s existing gas-export plant. Exxon will pay between US$45 and US$71.87 per share of InterOil, depending on how much gas its field holds.

Exxon plans to chill, liquefy and export the gas from the Elk-Antelope field in its PNG LNG complex on the coast of the South Pacific nation.

“Exxon Mobil will work with co-venturers and the government to evaluate processing of gas from the Elk-Antelope field by expanding the PNG LNG project,” explained an Exxon Mobil spokesperson. “This would take advantage of synergies offered by expansion of an existing project to realize time and cost reductions that would benefit the PNG Treasury, the government’s holding in Oil Search, other shareholders and landowners.”




Back to the list


Related Information: