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Chad Nationalizes ExxonMobil
The government of Chad says it has nationalized all assets and rights held by ExxonMobil. The U.S. gas giant announced last year it sold its operations in Chad and Cameroon to U.K.-based Savannah Energy, which said it would contest Chad’s nationalization plan. The West African nation has the 10th largest oil reserves in the continent and exports 90% of its oil.