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Ebola outbreak disrupts Exxon's oil drilling

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The Ebola outbreak in Africa is threatening Exxon Mobil's ( XOM) activities in the region, including plans to drill for oil there.


Exxon CEO Rex Tillerson said during a news conference it's having second thoughts about plans to start offshore drilling in some areas in West Africa due to concerns. The company has also banning business travel by employees to areas of the world affected by the disease.


Shares of Exxon are down 7 cents in afternoon trading, or 0.08%, to $92.80. Africa is home to 20% of Exxon's crude oil developed proved reserves and 3% of natural gas. Meanwhile, 20% of Exxon's undeveloped proved oil reserves are in Africa.


There are not many large U.S. companies with significant activity in the sub-Saharan Africa region. There are just seven companies disclosing notable geographic locations in the region, says S&P Capital IQ, including: Accenture ( ACN), American Int'l ( AIG), Chevron ( CVX), Cisco Systems ( CSCO), Citigroup ( C), Morgan Stanley ( MS) and Starwood Hotels ( HOT).


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