Skip to content
Subscriber Only

Exxon Faces Stark Choice After Rivals BP, Shell Abandon Russia

  • U.S. oil giant is partner with Rosneft in Russia’s Far East
  • Shell quit Sakhalin-2 partnership citing “military aggression”
Bloomberg business news
BP to Exit Nearly 20% Stake in Rosneft

Exxon Mobil Corp. is facing a tough choice over whether to leave Russia as rival supermajor oil explorers quit the country’s vast oil and natural gas fields in response to the invasion of Ukraine.

Although BP Plc and Shell Plc have announced plans to cut ties with Russian partners, Exxon hasn’t disclosed intentions for its 30% stake in a huge offshore crude development in the Russian Far East.