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Taxpayers must pay the freight for over-budget train projects
Topic - Patrick Mcginn
Exxon Mobil Corp. and the federal government are fighting over one of the largest oil discoveries in the Gulf of Mexico that could yield billions of dollars of crude in coming years, according to a report in the Wall Street Journal.
The Exxon Mobil Corp. said Wednesday it has pulled out of an agreement to purchase a Texas firm's multibillion-dollar share of the oil-rich Jubilee Field off the Ghana coast - a development that follows months of resistance from the government of the West African nation.
Exxon spokesman Patrick McGinn told the Journal that the government traditionally grants extensions as a matter of course.
"ExxonMobil has terminated the share purchase agreement with Kosmos Energy," said Patrick McGinn, a spokesman for ExxonMobil "We do not discuss the details of commercial agreements."