China’s state oil company could be set to lose out on development rights to one of Ghana’s biggest oil fields to US oil giant Exxon Mobil, Bloomberg reported. Unnamed sources said that a deal worth around US$4 billion had been agreed between Kosmos Energy, who own the Jubilee oil field, and Exxon Mobil, but had yet to be approved by Ghana’s government. The Wall Street Journal reported last week that China National Offshore Oil Corporation (CNOOC) was also in negotiations with the government of Ghana to acquire the Jubilee field from Kosmos. A CNOOC spokesman refused to comment on the story, which cited unnamed sources.
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