mo4ch:>Exxon & Chevron to dump Azeri oil project meant to save Europe from Russian energy reliance – report | Mo4ch News

Major American energy companies, Exxon Mobil and Chevron, are seeking to sell their stakes in Azerbaijan’s largest oilfield once meant to help Europe be less dependent on Russian gas and oil supplies, according to Reuters.The US companies, who were at the onset of singing the so-called “contract of the century” with the former Soviet Republic, are now willing to leave the Azeri-Chirag-Guneshli (ACG) oil field after almost a quarter of a century of presence in the area.Exxon seeks to raise up to $2 billion from the sale of its 6.8 percent in the field on the Caspian seabed, according to Reuters citing industry sources. Meanwhile, Chevron, which owns some 9.57 percent stake in ACG, is also going to sell its stake. Additionally, Chevron is considering offloading its 8.9% interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline, the company’s statement to the agency read.Also on rt.comBig Oil lobbying for carbon tax. What’s the catch? RT’s Keiser Report investigatesBoth Exxon and Azerbaijan’s s…