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Exxon Mobil Corp. decides against investing in the next stage of a proposed natural gas export terminal in Alaska. Instead, the company plans to sell its interest in the project to the state government. This decision is prompted by the global oversupply of natural gas and a Wood McKenzie report questioning the competitiveness of the Alaskan project. Other project backers, including BP PLC and ConocoPhillips, may also withdraw their support.
Friday, 26 August, 2016