Exxon buys Ghana oil stake

Exxon Mobil has bought Kosmos Energy’s stake in oil blocks offshore of the West African country of Ghana in an area that contains huge crude discoveries, The Wall Street Journal reported.

The deal would be the first by one of the world’s largest oil companies in the area, the newspaper said, citing a person familiar with the matter.

Bankers have put a value on the stake at $3bn to $4bn (€2bn to €2.7bn), the Journal said.