If Exxon Corp. and Mobil Corp. merge as planned, the combined companies will have the largest upstream portfolio in Europe and may face downstream monopoly questions from European authorities.
This is the view of Wood Mackenzie Consultants Ltd., Edinburgh, which said the combined reserves base of Exxon and Mobil in Europe amounts to more than 8.7 billion boe.
The analyst said gas would dominate the Exxon-Mobil reserves mix in Europe, with 31% oil and 69% gas. Exxon would account for 80% of the combined reserves, of which 37% are in the Netherlands, 28% in the U.K., 21% in Norway, and 13% in Germany.
"Europe as a region is second only in importance to the ...