Exxon Mobil has been in talks with Russian state oil company Rosneft to return to the development of the Sakhalin-1 project if the two governments give it the green light as part of the peace process over Ukraine, The Wall Street Journal reported, citing sources.
According to their data, representatives of the two energy companies discussed in Qatar's Doha a proposal to resume joint production on the Far Eastern shelf. Moreover, Exxon Mobil's senior vice president Neil Chapman took part in this dialog, and the head of the Texas giant Darren Woods talked about a possible return to Russia with Donald Trump at the White House in recent weeks, the publication notes.
According to WSJ interlocutors, Exxon and other U.S. companies have a license from the U.S. Treasury Department that allows them to negotiate frozen assets with Russian counterparties. Exxon and Rosneft talks intensified around the time of Trump's inauguration in January, the publication writes. The fact that US and Russian officials discussed energy deals, not excluding Exxon's return, is confirmed by Reuters.
Exxon pulled out of Russia in 2022 after the Ukrainian conflict began, accusing Moscow of expropriating its assets.
Shares of Exxon Mobil at the postmarket - when the WSJ material was published - fell in price within 0.5%, after which they recovered their losses, but continued to fluctuate. At the time of publication of this text, the quotes were in slight plus.
This article was AI-translated and verified by a human editor
