Is ExxonMobil (XOM) retreating to America?

America’s largest, most-famous, and historic oil giant, ExxonMobil (XOM) is selling off many of its global assets. Moreover, ExxonMobil is expanding some of its US operations.

For example, ExxonMobil transferred its operational functions at Iraq’s giant Qurma 1 oilfield to PetroChina in January 2024, Rogtec Magazine reports. ExxonMobil also sold shares in Qurma 1 to Iraq’s Basra Oil Company and Indonesia’s state oil producer Pertamania.

ExxonMobil and Shell (SHELL) could sell jointly owned North Sea oil and gas fields to Viaro Energy, Reuters reports. If this deal goes through, it will mean ExxonMobil will completely leave the North Sea where it has been operating since 1964. ExxonMobil is also trying to sell its Nigerian oil and gas assets to Seplat Energy LCC, Bloomberg reports. Finally, ExxonMobil is trying to sell all of its shale assets in Argentina, Bloomberg reports.

Is ExxonMobil (XOM) coming Home?

At home, ExxonMobil (XOM) more than doubled its footprint in the Permian Basin by acquiring Pioneer Natural Resources (PXD). This deal will more than double Exxon’s Permian production to 1.3 million barrels of oil equivalent a day (MOEBD), a press release claims.

Exxon also claims the Pioneer acquisition could grow the Permian MOEBD to two million…