Exxon Mobil may completely withdraw from Russia by June 24 – sources
2022.04.21 18:32
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo
LONDON (Reuters) – Exxon Mobil (NYSE:XOM) is considering a complete withdrawal from Russia by June 24, two sources familiar with plans told Reuters on Thursday, following the U.S. group’s earlier decision to exit from its oil and gas operations in the country.
Exxon Mobil removed employees who are U.S. citizens from Russia last month after Moscow launched what it calls its special military operation in Ukraine. It hadn’t provided a timetable for the withdrawal.
The initial departures included staff from its large oil and gas production operations on Sakhalin Island in Russia’s Far East, including the Sakhalin 1 project.
Now it is looking into shutting down its other businesses in Russia, including sales of popular Mobil lubricants, by June 24, two sources familiar with the discussions told Reuters.
Exxon didn’t immediately reply to a request for comment.
Exxon last year employed more than 1,000 people across Russia, with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst, according to its website.
Its deliberations come after dozens of other Western companies – from Apple (NASDAQ:AAPL) and Boeing (NYSE:BA) to BP (NYSE:BP), Shell (LON:RDSa) and Equinor – that have halted business or announced plans to abandon their Russia operations.
