EnergyWatch

Exxon to quit Russian oil ventures frozen by US sanctions

International sanctions have impeded a historic drilling project, and Exxon Mobil is now exiting joint ventures with Russia's Rosneft.

Photo: /ritzau/AP/Matt Brown/Arkiv

Exxon Mobil Corp. said it is abandoning joint ventures with Russia's Rosneft PJSC after international sanctions against the nation's energy sector paralyzed a historic drilling project.

Exxon's decision to quit its biggest exploration region was made late last year as the US expanded its sanctions, the company said in a 10-k filing on Wednesday. "The corporation expects it will formally initiate the withdrawal in 2018," Exxon said.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs