Chadian president Mahamat Deby
Chad nationalises ExxonMobil’s former assets
Savannah Energy claims the assets and will contest the decision at the ICC
The government of Chad intends to nationalise the upstream assets formerly held by ExxonMobil, which are claimed by AIM-listed Savannah Energy. The nationalisation decree was issued by the president of the landlocked Sahel nation, Mahamat Deby. The move is “in direct breach of the conventions to which [Savannah’s local subsidiary] SCI and the Republic of Chad are party”, Savannah says, adding that “the conventions are subject to the jurisdiction of an [International Chamber of Commerce: ICC] tribunal, seated in Paris, and the company intends to pursue all of its legal rights”. ICC arbitration “could take 18–24 months”, but the company “believes it has a watertight case”, according to analyst
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
