Exxon Held Talks With Rosneft Over Russia Re-Entry, WSJ Says
Exxon Neftegas Ltd.'s Sakhalin-1 oil and gas onshore processing facility site near Nogliki, Sakhalin Island in 2005.
Photographer: Hector Forster/Bloomberg
Exxon Mobil Corp. held talks with Russia’s state-controlled oil company about returning to its Sakhalin-1 oil development, the Wall Street Journal reported, citing people familiar with the matter.
Exxon and Rosneft Oil Co. officials recently spoke in Doha about the proposal, the newspaper reported. Exxon exited Russia in 2022 after the country’s invasion of Ukraine. The company said its departure was the result of the Russia’s “expropriation” of its assets at the time.