EXCLUSIVE-ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas, Sources Say

OIL AND GAS - SINGAPORE. Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country's upstream sector where it used to be a dominant producer, two people with direct knowledge of the matter said.

The U.S. major, which last year marked its 130th year in Malaysia, has been trying to sell its ageing upstream assets in the country since 2020, Malaysian media have reported, part of a shift in its strategy to focus on oil production in the Americas.