Iraq signs MoU with ExxonMobil for 2.5 million bpd seawater project

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™.

An arbitration court dismissed ~$12B of Kazakhstan's claims against ExxonMobil (XOM) and others over disputed Kashagan oil field costs, per Bloomberg. The government sought ~$20B in total.

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.