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Exxon Mobil Explores Return to Russian Oil Project Amid Geopolitical Tensions
Exxon Mobil Explores Return to Russian Oil Project Amid Geopolitical Tensions
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BTCCSquare news:
Exxon Mobil (XOM) engaged in confidential discussions with Russia's state-controlled Rosneft to potentially resume operations at the Sakhalin-1 oil project, according to a Wall Street Journal report. The talks, led by Exxon Senior Vice President Neil Chapman and Rosneft CEO Igor Sechin, were conducted discreetly in Doha with limited internal disclosure.
The energy giant had exited Russia in 2022 following Western sanctions, recording a $4 billion impairment after Moscow blocked its attempted stake sale. The renewed negotiations coincide with broader U.S.-Russia energy dialogues occurring alongside Ukraine peace talks, with Exxon CEO Darren Woods reportedly briefing former President TRUMP on the matter.
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