Turkey Agrees to Exxon Oil Exploration
June 9th, 2009
Exxon Mobil will begin exploring in deep water for oil in Turkey. The Turkish government agreed to let Exxon work with Türkiye Petrolleri Anonim Ortakl??? (TPAO) in the Black Sea. This new opportunity presents a range of potential upside for Exxon stock investors. However, the agreement comes at a cost of a 50 percent revenue share with TPAO, the Turkish government oil company.
