May 09, 2018
ExxonMobil Corp. has dropped its Texas federal court suit to escape arbitration with investors who claim they dumped $73.2 million into a failed project to explore for oil in Papua New Guinea, after the investors voluntarily dropped the company from international proceedings last week.
March 21, 2018
ExxonMobil Corp. asked a Texas federal judge on Tuesday for help staying out of arbitration proceedings launched by investors who dumped $73.2 million into a Singaporean company's botched oil exploration project in Papua New Guinea, telling the court it passed any liability on to a Canadian affiliate.