SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Big Dog's Boom Boom Room
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: kidl8/18/2025 8:51:38 AM
1 Recommendation

Recommended By
sixty2nds

  Read Replies (1) of 206084
 
Will Exxon and others take the bait?

Russia appears to open door for potential Exxon return to Sakhalin-1 project

Aug. 16, 2025 8:30 PM ET Exxon Mobil Corporation (XOM) StockBy: Carl Surran, SA News Editor

Russia's President Putin has signed a decree that could allow foreign investors, including Exxon Mobil (NYSE: XOM), to regain shares in the Sakhalin-1 oil and gas project, Reuters reported Friday.

The signing occurred on the same day that Putin met President Trump in Alaska to discuss a potential ceasefire in Ukraine, and possibly on opportunities for investment and business collaboration.

Exxon (NYSE: XOM) previously held a 30% operator share in the Sakhalin-1 project, and was the only non-Russian investor to have abandoned its stake after the invasion of Ukraine in 2022; the company took a $4.6B impairment charge to exit its Russian business.

Putin signed a decree in October 2022 that established Rosneft as Sakhalin-1's new operator, allowing the Russian government to decide foreign investors' ownership rights in the project; in December 2024, Putin signed another decree extending the sale period for Exxon's ( XOM) unclaimed stake until 2026.

Any path to Western investment returning to Russia is unclear given the U.S. and European Union would need to lift far-reaching sanctions to facilitate investment.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News