O&G players may form consortiums to bid for Exxon Mobil’s Malaysian assets


Can I join in, for old time’s sake? Us ex-Esso folks have some payback comin’.

Dateline 2020-11-17, The Edge:

SEVERAL local oil and gas (O&G) companies are understood to be interested in acquiring Exxon Mobil Corp’s assets in Malaysia, which are up for sale, but are said to be more comfortable forming consortiums to bid for these assets because of the hefty price tag of US$2 billion to US$3 billion (RM8.26 billion to RM12.39 billion).

A controlling shareholder of one of the larger companies says, “We are always on the lookout for assets, [but] no one company can go it alone [acquisition of Exxon Mobil’s assets], and no sensible management will make such a [risky] decision.”

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