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Exxon slashes LNG price to India

Published 09/11/2017, 04:47 AM
Updated 09/11/2017, 04:47 AM
© Reuters.  Exxon slashes LNG price to India
  • India has won a price cut on a 20-year liquefied natural gas deal with ExxonMobil (NYSE:XOM) in a rare contract renegotiation, a bad sign for producers in a heavily oversupplied global market.
  • "This trend is overall a negative for sellers, as they are forced to provide more flexibility to buyers' needs to maintain their markets," said Saul Kavonic, an analyst with Wood Mackenzie.
  • ETFs: UNG, UGAZ, DGAZ, BOIL, GASL, FCG, GAZ, KOLD, UNL, GASX, MLPG, DCNG, GAZB
  • Now read: Exxon Mobil: The Best You've Got

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