Russia extends ExxonMobil's deadline to exit Sakhalin-1 project to January 1, 2027

Summary

Russian President Vladimir Putin extends the deadline for ExxonMobil to sell its stake in the Sakhalin-1 project until January 1, 2027. This extension aims to assist Exxon in recovering losses from its exit following the Ukraine conflict. Exxon previously took a $4.6 billion impairment charge on its 30% stake in the project.

Recent Coverage

• Russia Gives ExxonMobil More Time to Exit Sakhalin-1 Oil and Gas Project

  Asian Oil & Gas • Dec 26