Chad has announced it has nationalized a former subsidiary of US oil and gas giant ExxonMobil, whose sale to a British company last year it had contested

TL;DR

A decree signed by President Mahamat Idriss Deby Itno on Thursday declared that all the assets, prospection rights, operating permits and oil-transport authorisations held by Esso Exploration and Production Chad Inc. Since December 9, daily production averaged 29,349 barrels per day, an increase of around nine percent compared to the equivalent period prior to Savannah taking control, it said.

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