Arbitration court invalidates $12B of Kazakhstan’s claims against oil firms - Bloomberg (XOM:NYSE)

Infineum, a joint venture between Shell and ExxonMobil, is reportedly exploring an $8 billion sale. The company, which produces specialty chemicals for lubricants and fuels, was founded in 1999. Shell and ExxonMobil each own 50% of the business. The sale is not yet confirmed, and details such as the final price and terms remain uncertain.

An arbitration court dismissed $12B of Kazakhstan's claims against ExxonMobil (XOM) over the Kashagan oil field, though $8B in claims remain. The ruling may impact ExxonMobil's future investments. XOM offers a 2.33% dividend yield, a 53% payout ratio, and a 3-year dividend growth rate of 4.1%, but its stock is 31% overvalued according to GF Value™.

Shell and ExxonMobil's joint venture, Infineum, is exploring an $8B sale, according to the Financial Times. The specialty chemicals company, which generates $700M-$800M in annual EBITDA, has engaged Bank of America to run the sale process, targeting private equity buyers.

Shell (SHEL) and ExxonMobil (XOM) are exploring the sale of their joint venture, Infineum, for $8B, according to the Financial Times. The companies aim to refocus on their core oil and gas operations.

Infineum, a 50:50 joint venture of Shell (SHEL) and ExxonMobil (XOM), has selected Bank of America to explore a sale of the business, targeting an $8B valuation. The process has reportedly launched, with private equity bidders potentially interested, according to FT sources.

Iraq's Oil Ministry signed an MoU with ExxonMobil to develop a 2.5 million bpd seawater project, aiming to boost oil production and restore pre-war export revenues. The project is part of Iraq's efforts to attract international companies and increase production rates. Oil revenues account for 88% of Iraq's state revenues, with most exports transiting the Strait of Hormuz, which has been disrupted by recent conflicts. ExxonMobil and TotalEnergies are involved in separate seawater initiatives.