Nigeria Renews Three Oil Leases for ExxonMobil

Citing an ExxonMobil spokesman, Dow Jones reported Friday that Nigeria has renewed three of Exxon Mobil Corp.'s operated oil leases that pump more than 550,000 barrels of oil per day, which expired in November 2008.

According to the spokesman, Oil Mining Leases 67, 68 and 70 were finally signed in Nigeria's capital city Abuja, following months of negotiations.

"Mobil Producing Nigeria, operator of its joint venture with the Nigerian National Petroleum Corp., is pleased to confirm that it has reached agreement with the federal government of Nigeria on the long term renewal of the NNPC-MPN joint venture leases," the ExxonMobil spokesman said in a statement to Dow Jones.