Exxon Mobil ended its campaign in Brazil after failing to find oil, WSJ reports

Exxon Mobil has ended its campaign to find oil in Brazil after a series of disappointing wells, Collin Eaton of The Wall Street Journal reports, citing people familiar with the matter. After failing for a third time to find commercially viable amount of crude oil in Brazil’s deep waters last year, Exxon Mobil stopped its currently drilling efforts it started snapping up with partners in 2017, people said, according to the Journal. Geologists and engineers who worked on the drilling campaign have been moved from its offices in Rio de Janeiro to other countries. Exxon has not ruled out Brazil for future projects, for the company is still engaged and continues to pursue exploration activity in the country, sources told the Journal. Reference Link