ExxonMobil Joins Other Big Oil Companies in Withdrawing from Russia

U.S. Big Oil corporation ExxonMobil joined multiple other multinational energy firms in announcing that it would distance itself from Russian business ventures Tuesday.

The American energy giant announced that it would begin the process of exiting the Sakhalin-1 drilling project, a major oil and gas development located off the far east coast of Russia. The Houston-based corporation currently owns a 30% stake in the offshore oil drilling project, Barron’s reported.

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