ExxonMobil published an update on 8 April on the impact of the Iran war on its operations in the Middle East. Although its only producing upstream assets in the Middle East Gulf region are in Qatar and the UAE, combined production from the two countries is equivalent to around 20% of Exxon’s global oil-equivalent production. The company notes that this represents a smaller percentage of its upstream earnings.
It expects that the Middle East conflict will have reduced its global oil-equivalent production by around 6% in Q1 against the previous quarter, implying a substantial 300,000 boe/d impact; Q4 output was 5.0mn boe/d. (CONTINUED - 281 WORDS)
