ExxonMobil (XOM) Declares Force Majeure at Key Nigerian Pipeline
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Price: $146.60 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.2%
Revenue Growth %: +33.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.2%
Revenue Growth %: +33.3%
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ExxonMobil (NYSE: XOM) is said to have declared force majeure on Nigerian Qua Iboe crude exports, according to reports out Friday.
Traders said that ExxonMobil is having trouble with a pipeline, which lead to a disruption of supplies.
Qua Iboe has the largest output of Nigeria's crude oil grades and was expected to account for 317,000 barrels per day of exports for June.
Shares of ExxonMobil are down
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