ExxonMobil Schedules Drilling Activity Offshore Cyprus in 2025
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ExxonMobil plans to start drilling offshore Cyprus in 2025 as part of its strategy to explore new energy reserves in the Mediterranean region, aiming to diversify away from Russian energy sources.
November 22, 2024 | 3:30 pm
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ExxonMobil is set to commence drilling activities offshore Cyprus in 2025, which is part of its strategy to explore new energy reserves in the Mediterranean. This move is aimed at diversifying its energy sources away from Russia.
The announcement of new drilling activities in Cyprus indicates ExxonMobil's strategic move to diversify its energy sources, which could positively impact its future revenue streams. This diversification away from Russian energy sources is likely to be viewed favorably by investors, potentially leading to a positive short-term impact on XOM's stock price.
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