Exxon to exit oil ventures with Russia’s Rosneft due to sanctions

ExxonMobil said on the 28th February that it will pull out of exploration and research joint ventures with Rosneft due to US and European Union sanctions against Russia.

 

Exxon, the world’s largest publicly traded oil producer, said the exit will result in an after-tax loss of US$200 million.

 

Source: Energy-pedia