Marathon Oil Enters Five-Year Firm LNG Sales Agreement With Glencore Energy UK For Portion Of Its Equity Natural Gas Produced From Alba Field In Equatorial Guinea, Effective Jan. 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Marathon Oil has entered into a five-year firm LNG sales agreement with Glencore Energy UK. The agreement pertains to a portion of Marathon Oil's equity natural gas produced from the Alba Field in Equatorial Guinea, and will be effective from January 1, 2024.
October 16, 2023 | 9:06 pm
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Marathon Oil's new sales agreement with Glencore Energy UK for LNG from the Alba Field could potentially increase its revenues and profitability from 2024.
The new sales agreement with Glencore Energy UK is likely to increase Marathon Oil's revenues and profitability from 2024, as it secures a buyer for a portion of its equity natural gas produced from the Alba Field. This could potentially lead to a positive impact on its stock price in the short term.
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