Page 40 - Nigeria one mag 4 edition en

Exxon Mobil (XOM): This company is larger than African nations with the largest oil exports like Nigeria,
Shell and Chevron, commanding a market of Angola,Algeria, and Libya.Considering the on going
more than $400 billion. In the first half of 2022, Russian/Ukrainian war and the ensuing EU crisis, EU
Exxon earned $23.3 billion in profits, a huge leaders are actively seeking alternatives to Russian gas.
increase over the $7.4 billion in profits of the Investing in Africa represents an excellent opportunity
for companies since it has substantial oil and gas
prior period. It is no wonder investors like reserves. Maintenance issues, terrorism, theft, and
Exxon's stock, especially since the company pays vandalism plague the continent, slowing down
quarterly dividends of 88 cents per share, which exponentially its oil and gas production. A substantial
translate to a 3.6% annual yield. infusion of funds from foreign investors could reverse
It is clear from these solid financials that these oil the current situation and make African oil and gas
companies are excellent investment opportunities. producers more competitive on a global scale. It would
However, it is important for investors to not limit be mutually beneficial if African producers and foreign
themselves to these oil giants, but also turn to the investors could form a productive partnership.

Onshore oil drilling platform, illustrative image

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