African Nation CHAD has “Nationalized” Assets of Exxon-Mobil ~ March 28, 2023

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The government of Chad has decided to nationalize all the assets of the American oil and gas company Exxon Mobile located in the country.  The decision to nationalize the assets of the American company
was made by the interim President of Chad, Mahamat Idriss Deby.

The nationalization of a private company means that all assets are now owned by the government. While this used to happen in the 1960s and 1970s, it hasn’t happened recently and doesn’t conform to usual legal frameworks in the sector, say energy experts.

Chad began producing oil in 2003 and Exxon has been operating in the country for several decades. It was running the Doba oil project in Chad.

The move could scare away investors from West Africa at a time of growing global energy demand and a decline in foreign investments in the region, said Olufola Wusu, a partner and head of the oil and gas desk at Megathos Law Practice based in Nigeria.

“Expropriation of any sort without compensation is not a step in the right direction, because it is going to erode investor confidence in that particular country and once investors are jittery, they pull back their investment, so regulators and leaders in Africa need to play by the rules,” he said.

The government’s decision came after a long dispute between Exxon and Chad, which rejected the sale of the company’s operations last year.

Tensions have risen in the West African nation in recent months with unprecedented protests mounting against the government of President Mahamat Idriss Deby.

Deby was declared the head of state after his father’s death in April 2021. The son’s succession did not follow Chad’s constitutional line of succession. Opposition political parties at the time called the handover a coup d’etat, but later agreed to accept Deby as interim leader for 18 months.

Chad is about to learn the reality of America:  Capital (money) follows return.  The Flag follows the money.  Troops follow the flag.

The new young “president” of Chad should prepare for 500 and 1000lb democracy installments.   I advise the interim President that air travel is not recommended. American special forces are in at least 9 African countries.

Comments   

+1 #Hmmmm — LauraL2023-03-27 00:27

I wonder if Chad will pay Exxon and if they do will it be in Yuan? ROFLOL

+9 #The US will reap what is has sown — warreng59952023-03-26 21:48

The US government and military has stolen resources and much more, from nations all over. Just one example is how they are still stealing oil from Syria right now.

Everyone knows the US is collapsing. So they (the other nations) are going to start taking back their resources and any assets the US gov/military, or US companies, have in their nations.

Just like with nations dumping the US dollar… Everything is ramping up. Its going to hit from all sides, and it’ll happen so quickly most of the people here in the US will have no idea how it happened. Most will be in complete shock, and will be caught by surprise and unprepared.

Suicide rates here in the US, and then the other western nations, are going to skyrocket for many reasons in the time ahead. Let alone all the other chaos and violence.

+12 #I Suspect a Joker in this Deck — stevekerp2023-03-26 21:18

I just have a feeling there’s another aspect that isn’t being told – perhaps some arrangement with BRICS or with China or Russia or someone. The U.S. kind of has its hands full, what with Mexico and China and Ukraine and Iran and everything.

All the rules will change in about two weeks. Chad need not depend on U.S. worthless money, and probably need not fear U.S. military activity. Deby probably did what was best for his country, unlike Biden who always does what’s worst for the U.S.

+1 #RE: I Suspect a Joker in this Deck — Linda Seikkula2023-03-27 02:17

I think right on. China has been going into Africa for several years now setting up for the future.

+3 #Issue — ellis2023-03-26 20:27

Someone in Chad may not have all their smarts. The Chad oil fields use a pipeline through Cameroon to carry the oil to market. It is then held in storage tanks that are 7 miles off the coast of Cameroon and then pumped into ships. Chad may not have a way to get that oil to market since it is a land locked country. Sounds like a corrupt appointed son leader who got his panties in a bunch.

#“DA JA VU ALL OVER AGAIN”! — Plowboy2023-03-26 20:08

How do you think the Saudis got their start?

+6 #Omg — William2023-03-26 18:24

Fricken Hal, I busted out laughing at the 500 and 1000 lbs installments of “Democracy”. Too much, but accurate

+7 #RE: African Nation CHAD has “Nationalized” Assets of Exxon-Mobil — MSNews2023-03-26 18:23

It makes perfect sense to me.

With the BRICS nations dropping the us plantation notes.

CHAD is moving to tokenize all their natural resources on the blockchain, precurser for BRICS and trade between their nations.

Additionally will CHAD give their citizens a royalty from oil going forward? Hopefully so.

+11 #Where’s China… — WilliamtheResolute2023-03-26 17:46

I doubt Chad would make this move without some encouragement and some backing from another strong military power…Operation Sandman begins.

+4 #RE: African Nation CHAD has “Nationalized” Assets of Exxon-Mobil — DeplorableNeanderthal2023-03-26 17:36

Maybe CamelA can work this problem out on her trip to the area ?

+13 #HOPEFULLY THE US WILL SOON BE SO BROKE THAT THEY CAN NOT TERRORIZE THE OTHER SOVEREIGN NATIONS OF THE WORLD WITH THEIR SORRY ASS TYRANNICAL STANDING ARMY. — joe@tittiger.com2023-03-26 16:45

.
I am not a fan of socialism.

However, considering the criminal manner in which these globalist companies acquire these “leases”, I think that Nationalization is a legitimate action.

Do any of you remember how the State of Hawaii came about?

I am told that the US marines seized the kingdom for Dole Pineapple company.

Read some of Smedley Butler for more on how the world really works.

It looks like the Marines are now working for Exxon/Mobile rather than Dole Pineapple.

HOPEFULLY THE US WILL SOON BE SO BROKE THAT THEY CAN NOT TERRORIZE THE OTHER SOVEREIGN NATIONS OF THE WORLD WITH THEIR SORRY ASS TYRANNICAL STANDING ARMY.